EE NE FR NLI O &
BARBADOS PROPERTY
Alleyne Real Estate - Page 7
NEWS
The Crane - Page 21
www.barbadospropertynews.com • April - May 2013 • Issue 86
Realtors - Page 33
Endorsed by the Barbados Estate Agents and Valuers Association Inc.
Sugar Water at Apes Hill - Page 26
Editor’s Comments We have a new government, albeit the same party has been elected for another term. New governments create a buzz almost like a New Year, and we have high expectations of better times ahead. We wish the Dems well and hope that their policies address some key real estate issues and help our industry in the next five years. A bustling property market leads to more construction, higher employment and overseas investment. These are key areas going forward. Barbados Property News is read all over the world through our online copy and many visitors carry the hard copy back with them. We know this from the feedback we receive from readers and advertisers. Each edition highlights property, property services and property products and the reader can use it for their own particular needs to sources what they want. If I could highlight one particular feature it would be the wide range of properties to suit every pocket and the quality of the product. We have beautiful properties that embrace all matters of taste and at prices that are reasonable and fair. We also have a destination that attracts thousands of tourists every year and we are told more and more of them are looking to rent properties rather than stay at hotels. This augurs well for property investors. I hope you find something to your taste in this edition. Pamela Hiles Editor
If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692
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On the cover: Sugar Water at Apes Hill
Publisher – Hiltop Publications Ltd, 11 Cottage Ridge, St George, Barbados, BB19071 Tel (246) 228-9122, Fax (246) 228-0243 Email: sportingb@caribsurf.com www.sportingbarbados.com www.barbadospropertynews.com www.caribbeanpropertymag.com www.caribbeanmortgageservices.com Editor/Advertising – Pamela L Hiles Design and Art Direction – 809 Distribution – Hiltop Publications Ltd, Brian’s Print Brokerage Printing – Coles Printery The Material and editorial contained in this publication have been deemed accurate at the time of going to print. The views expressed as editorial are those of the Editor unless stated otherwise. No part of this publication may be reproduced without the consent of the permission of Hiltop Publications Ltd.
A PLACE WHERE MEMORIES ARE MADE . For now. For everyone. Forever .
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www www.stpetersbaybarbados.com .stpetersbaybarbados.com MEMBER OF THE HE
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DB HOME Limegrove Lifestyle Centre, t. 434.6745, email: dbhome@sheratonmall.com
FOR SALE
Cave Hill, St. Michael
Cane Garden Crescent, St. Thomas
Traditional coral stone residence with magnificent Elegantly converted 5-bed /6-bath Managers home view of Bridgetown and sea - BDS$2,995,000 with apartment and pool - BDS$2,300,000
Sugar Hill Estate, St. James
Furnished 2-bed/2bath apartment in Sugar Hill community - tennis, gym - BDS$990,000
Maple Cottage
Quaint 3 bed, 2 bath home with cottage near the beach on the south coast - BDS$800,000
Dairy Meadows, St. James
Spacious executive residence in sought after neighbourhood - BDS$1,525,000.
Also for rent BDS$6,500
Welches Grove, St. Thomas
Recently built 2-bed/3-bath townhouse 3 minutes from the amenities of Warrens - BDS$675,000
FOR RENT
Palm Beach, Christ Church
3 bedroom/3.5 bathroom spacious ground floor luxury beachfront condominium - BDS$10,000
Dukes, St. Thomas
Newly built 3 bed/3.5 bath townhouse with quality finishes in country setting - BDS$3,800
Millennium, St. Thomas
Atlantic Shores, Stargaze, Ch Ch
3-bed/2.5 bath lake-view duplex with extended deck in gated community - BDS$6,500
2 bedroom apartments; newly built Mediterranean style condominium complex - BDS$3,300
South Ridge, Christ Church
Fairway Gardens, Rendezvous, Ch Ch
Bright split level 3 bed/2.5 bath semi-detached house with superb sea view - BDS$3,200
Unfurnished 3-bed/2-bath upstairs apartment on the south coast - BDS$1,650
Visit our website www.cipcaribbean.com • Tel: (246) 424-6633 • Email: info@cipcaribbean.com
The Most Environmentally Friendly Luxury Home in Barbados: Sugar Water at Apes Hill
By Laura Williams
Here are some additional features:
The most environmentally friendly luxury home in Barbados is now complete. "Sugar Water" is a four bedroom, four and a half bathroom home located directly on the 3rd Golf Hole and also has views through 15th Hole. This property has features including a roof made of recycled rubber, recycled porcelain floor tiles looking just like wooden floors, solar electricity, a wine cave, LED lighting, and kitchen garden featuring over two thousand variations of plants. The home is accessed thorough the open plan living room and kitchen and has two remote "walls” that once open allow for a complete indoor/outdoor living. The kitchen features an impressive island madeout of a fallen mahogany tree, which blends perfectly with the clean white Italian designer kitchen. The kitchen has Miele Appliances, a wine cooler, a professional cooktop and views of most of the home. There is a large infinity edge saline swimming pool with steps both from the deck and a set leading from the master bedroom. The architect has taken full advantage of the cool trade winds and views by positioning each bedroom to be facing the swimming pool, and each with their own private patio and bathroom. The developers have chosen to allow the new purchasers of this home the option of fitting out the large basement, which would be perfect for a guest cottage, gym or media room.
• Net zero, the house produces as much energy as in consumes and when the owners are off island they will receive a credit from light and power • Site orientation to allow free flow of air through all rooms Passive airflow through roof void to keep it cool and in turn reduces the interior temperature of the house • Zero voc paints used throughout the house to improve the air quality. • Saline pool system that uses salt, broken down from sodium chloride to sodium and a natural chlorine which is healthier for skin and eyes and also no harm if there is a leak into the ground water table. • Swimming pool runs on a solar pool pump • Floor tiles made from 40% recycled material • Roof made from 95% recycled material and has a 50 year warranty • Roof made from recycled content steel frame. Stronger house which is rated to withstand a minimum of a cat 3 hurricane.
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Because wood has been taken out of the building to a large extent there is no termite treatment which means once again improved air quality for the home owners who are not breathing in those chemicals
• High efficiency appliances to ensure energy efficiency • Locally salvaged butcher block counter made from a fallen mahogany tree and and drift wood mirror. • Up cycled brick pavers
• Locally made joinery and furniture all made from sustainably farmed lumber. • Carbon offset program. Trees were planted in Barbados to offset the co2 emissions of bringing in all goods for the building of the house.
• 150 banana fig and plantain trees in the gully • DC motor fans, allow maximum airflow while being the most efficient fans on the market
• Edible landscape with over 2000 edible plants. All organic and no chemical pesticides or fertilisers.
• Aerating shower heads and faucets, these allow air to be mixed with the water and use about 1/3 of the water as traditional shower heads while keeping the same level of performance
• Chemical free cleaning . All cleaning is done using nonchemical organic products that are healthier for you and your family.
• Solar water heating
• All LED lights in the house, the new technology allows for ambiance and energy efficiency.
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This home redefines environmentally friendly living in Barbados and is available on the market now for $3,950,000 USD.
Available Summer 2013
Rattan Storage Baskets Set/3 $179.95
Sozni Cushion $69.95 - $99.95
Rusticana Square Bowl $79.95
Summertime Bliss
Beachstone Placemats $32.95
Rustic Pillar Candles $19.95 - $32.95
Mona Slipcover Sofa $4995
Get Get a free free mortgage mortgage check-up check-up and see how how you you could: could: Reduce your monthly payments. Reduce your monthly payments. Save thousands in interest over time. Save thousands in interest over time. Add living space or upgrade with a renovation you can afford. Add living space or upgrade with a renovation you can afford.
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Visit yyour our near nearest est br branch anch toda todayy †Conditions apply. apply. Subject to credit approval. Ask for details in the branch. *Trademark *Trademark of The Bank of Nova Scotia, used under licence (where (where applicable).
Discover what’s possible
JOHN PLAIN 15, HOLDERS, ST. JAMES
JAMES TOWN PARK 14, HOLETOWN, ST. JAMES
HALCYON HEIGHTS LOT 30G, ST. JAMES
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SALES PRICE: US$1,125,000.00 REDUCED
SALES PRICE: US$695,000.00 REDUCED
SALES PRICE: US$500,000.00
BELLE VIEW, HALCYON HEIGHTS, ST. JAMES
CORAL CLIFF LOT 19, ST. PETER
SEAVIEW ROAD 48, CHANCERY LANE, CHRIST CHURCH
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SALES PRICE: US$2,500,000.00
SALES PRICE: US$600,000.00
SALES PRICE: US$1,050,000.00
FOREST HILLS 14, ROYAL WESTMORELAND, ST. JAMES
FOREST HILLS 28, ROYAL WESTMORELAND, ST. JAMES
THE SET, SEAVIEW ROAD, ST. JAMES
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SALES PRICE: US$1,800,000.00
SALES PRICE: US$895,000.00
SALES PRICE: US$600,000.00
PALM BEACH, HASTINGS, CHRIST CHURCH
ALLEYNEVILLE, HASTINGS, CHRIST CHURCH
ROWANS PARK 128G, ST. GEORGE
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SALES PRICE: US$950,000.00 to US$1,100,000.00
RENTAL PRICE: US$2,000.00 per month
SALES PRICE: US$499,000.00
We sell real estate, but our business is people! PROPERTY SALES
HOLETOWN, ST. JAMES, BARBADOS, BB24016, W.I.
3&/5"-4 t "113"*4"-4
TEL: (246) 432-6930 · FAX (246) 432-6919
"6$5*0/&&3*/( 4&37*$&4
EMAIL: SALES@REALTORSLIMITED.COM WWW.REALTORSLIMITED.COM
Something Special
Finance
Our island remains the gem of the Caribbean sea After five years of adversity the local real estate market has every reason to feel better times lie ahead. After all, we’ve taken licks for matters we didn’t create and our beautiful little island remains a tropical paradise that many people dream of visiting. And the reason is simple-we have something special. Barbados has not been alone in its struggles with global meltdown. Much larger economies in Europe and North America have yet to recover and there are mixed opinions as to when that recovery will be effected. Scandals and financial impropriety have rocked consumer confidence and made most investors a lot more wary of where they put their hard-earned cash these days. Governments have had to bail out banks and the financial playing field has been changed forever. The economies in countries like Spain, Italy, Ireland, Iceland and Greece have been decimated and they continue to face fiscal challenges that continue to threaten the very future of the European Union. The mighty United States fights on and despite having the biggest financial scandals of the last five years, it will recover because America is America and its economy is on a scale unprecedented worldwide. And what has this got to do with Barbados real estate you may ask? A lot, is the simple answer! Over the past five years the local real estate market (sales to Barbadians) has gone along much the same as pre-2008 because people needed a home to live and some of the more successful locals moved up the prosperity ladder into a bigger and better homes with the higher income they earned. Admittedly investor confidence has been jolted, but not rocked, because local people need a home and they already know Barbados is a very special place to live. The biggest blow to local real estate has been the huge drop in second
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homebuyers who have seen much of their income eroded in financial scandals overseas. They have not disappeared completely, but their numbers have been decimated and the new breed of second homebuyers is much more cautious and discerning. Barbados offers a lot to second homebuyers, not least our beautiful sand, sea and sunshine. We repeatedly hear tourism gurus say the modern tourist is looking for more these days, and without challenging their perception, the lure of sand, sea and sunshine is still our greatest asset. We could add a friendly people, good education system, excellent infrastructure, health facilities, economic opportunities, and social amenities. We could also add the fact that there are no serious restrictions on non-residents buying property here, mortgage facilities are available and when selling, our Property Transfer Tax is one of the lowest in the region at 2.5%. And therein lies one of the biggest attractions of Barbados in the current Caribbean real estate market. When compared to other destinations Barbados has weathered the crisis better than most. Our property values have certainly dropped, but not in every sector, and in some instances they have increased. And the reason is that we have something special. People buy in Barbados because they love our island and all the extras give them comfort that is not so easy to identify and qualify today in other Caribbean islands, Florida, Spain, Portugal, France, Dubai, and Eastern Europe, the preferred haunts of many second homebuyers in the past decade. Nothing is perfect in life and there are a number of areas that need to be improved in the journey towards perfection, but we have a new government and if they are serious about their business then they need to place tourism, construction and overseas property investment at the top of their priorities as that’s where Barbados will achieve prosperity in the next five years. Clarence Hiles is a mortagage broker, developer and business journalist. He can be contacted by tel: (246) 230 9215 or by email: clarence@caribbeanmortgages.com
We understand your needs! ‘Owning a piece of the rock’. It’s a bit of a cliché in Barbadian dialect, but in terms of personal wish lists, these six words are perhaps the ones that most persons hold nearest and dearest and continue to strive to attain. Indeed, this ‘piece of the rock’ statement is not built around emotional symbolism but is a physical representation of financial stability and upward social mobility – something we all strive for. Whether your dream home is a chattel house, a family home in the country, a secluded villa or a townhouse in the island’s ‘heights and terraces’, once achieved, home ownership helps to maintain Barbados’ economic and social stability. It can be vital in the financial cycle, serving as collateral that owners can pass down to future generations, or can use for other sources of revenue such as property rentals or sale. Regardless of purpose, owning a piece of the rock has a crucial role to play in the economic development of our country. From a societal perspective ‘home’ is where culture is embedded, important family traditions are created and where generational dreams are born and realised. It is a safe haven and a
Finance
place where there is comfort in knowing you belong – your oasis in an extremely busy world. Given all of this, it is therefore no surprise that for some, the concept of home ownership may be daunting. Whether you are a firsttime homeowner or already own a home but are considering moving to a larger space or getting a second home, you need to work with a team that understands your specific needs. That’s where we come in. We understand the needs of first-time and experienced home purchasers and we are willing to provide you with the expert advice and support you need. At First Citizens, we are happy to play a role in helping individuals and families realise their dream of home ownership. If you’d like to work with a Bank that is passionate about helping you to achieve your dreams, give First Citizens a call. The path to your dream home could start with a phone call, an email or a visit to First Citizens. Take that step today and allow us to show you how we put you and your dreams first. If you have any questions about our lending services, please feel free to contact Joy Carter at 431-4518 or joy.carter@firstcitizensbb.com.
Natz’ Home Furnishings New Store opens in Warrens Natz Home Furnishings, a well established home furnishings and design studio has moved – literally next door! Easily doubling its floor space, the carefully planned and organized layout allows for a more relaxed browsing experience in an airy and luxurious new setting. Whatever you’re interior decorating needs, the new Natz’ store has anticipated them. An accomplished interior designer herself, Natalie Manning grabbed the opportunity to expand the store and move her business to the next level “The space became available and I knew that this is just what we needed at this point in our growth,” said Natz. “It gives us an opportunity to display our beautiful products to their full extent and also allows us to expand our product range.” Natz’ is now located and open for business in the Williams Industrial Complex, Warrens. We highly recommend that you visit this new store, especially if you are looking for a fresh new look for your home.
Real Estate News
Property & Development Consultants - Chartered Quantity Surveyors - Project & Construction Management - Real Estate Valuers & Appraisers Barbados Office I Orena I St. Lawrence Main Road I Christ Church I Barbados I T 1 246 428 8091 I E infobarbados@bcqs.com I www.bcqs.com BAHAMAS
BARBADOS
BRAZIL
BVI
CAYMAN ISLANDS
GUYANA
JAMAICA
ST LUCIA
TRINIDAD & TOBAGO
TURKS & CAICOS
BEAVA Inc.
Members of the board of BEAVA Inc. (Barbados Estate and Valuers Association) recently approved a new and enhanced logo which truly encompasses how the board intends to move forward.The logo demonstrates a more finite union between the MLS (Multiple Listing Service) and BEAVA, as the two entities become one. It is BEAVA’s belief that as it pushes forward with some marketing initiatives that property owners and the buying public would recognise that listing with a BEAVA/MLS Barbados agent, is the most practical option for getting your property sold or rented. In fact, doing so guarantees your property is being listed with some of the most reputable and efficient agents the country has to offer.
One of the first public displays of this logo is on this and the opposite page where you will find 45 property listings in what is our first print advertising of MLS listings. BEAVA thanks all of its members who participated and said “yes!”, a sure demonstration of their confidence in us and Barbados Property News (BPN). We are excited to have this classifieds page and its reality is in no small measure due to Pamela Hiles, Publisher of the magazine. She has offered the association tremendous support and we hope the BEAVA/MLS Barbados page becomes a main stay in the BPN. For more details and a wider selection of BEAVA’s properties, please log onto www.beavainc.com or www.mlsbarbados.org.
RECEIVE HEALTH CARE ANYWHERE WITH SAGICOR GLOBAL CARE
W G NOLLIN SE
Carter’s Grove Two Units left at BDS$405,000 each
• Three bedroom homes on lots of over 5,000 sq ft • Small community of ten units in quiet cul-de-sac • Located just off Enterprise Road a few minutes drive from Oistins fishing village • Up to 100% mortgages available • Five units sold and two completed • Three units reserved and only two available for purchase
For more information call 230 9215
Relocation Services A unique and vibrant relocation management company has just opened its doors in Barbados! Barbados Relocation Services provides a single centralized point of control while coordinating all logistics relating to both individual and business relocations. The company's services include: • Airport Meet & Greet • Sourcing of both rental accommodation and property to purchase. • Immigration requirements and work permit applications. • Sourcing education options for children of all ages. • Local club memberships • And lots more! The local processes and administration can be baffling
Real Estate News
to anyone outside the system, and so we found there to be a real demand for this kind of service. We provide a professional and warm experience to all those relocating to our beautiful island. For the business owner, your employees are your most valuable asset, and their successful relocation to Barbados is essential to the success of your company. We take care of every detail and every aspect of your journey to living comfortably in Barbados". On their website, you will find lots of helpful information, as well as an online form which allows you to select all of the services you require. Within 24 hours you will receive a FREE quote and then your hassle free journey can begin. Barbados Relocation Services..Making it easy! info@barbadosrelocate.com www.barbadosrelocationservices.com
Hurricane, Security & Sun Protection