Unlocking Paradise through Real Estate Investment
It
is with great pleasure that we welcome you to Terra Caribbean’s 2024 publication of "The Red
List," your definitive guide to some of the hottest properties in the vibrant Barbados real estate market.
If you've ever dreamed of owning your very own slice of paradise, you're in the right place. This year, we’re spotlighting a curated selection of properties that epitomize the infectious Bajan lifestyle and o er sound investment potential.
Whether you've already fallen in love with Barbados' stunning beaches and warm culture or are just beginning your journey, investing in a property here o ers exceptional benefits. In this article, we'll walk you through the purchase process, highlight the perks of owning a condo, and dive into a real-world case study that details the costs and revenue you can expect when running a property on the island.
Buying property in Barbados as a non-resident is a streamlined and welcoming process with no restrictions on foreign ownership. You start by engaging a local real estate agent and making an o er when you settle on your dream property. Once your o er is accepted, you will be required to appoint an attorney who operates in the Barbadian jurisdiction to conduct due diligence on your behalf. On the other side, the vendor’s attorney provides a sale agreement, and upon signing, you are required to pay a 10% deposit. After ensuring all legal requirements are met, you'll proceed to the final closing where the 90% balance of the funds is due. With the transaction complete after approximately 3 to 6 months as a standard, you can enjoy the benefits of owning a piece of paradise in beautiful Barbados.
Owning an investment property in Barbados provides not only a potential for financial returns but also the joy of a personal
retreat in a tropical paradise. When evaluating the viability of an investment property, it's crucial to consider its location. A property close to beaches and amenities, or situated in a central and convenient area, provides an incentive for visitors to choose your property, enhancing its potential for generating rental income. Investment properties close in proximity to local hot spots like St. Lawrence Gap on the south or the Mullins to Speightstown area on the west also contribute to the desirability for both short-term and long- term rentals. These prime locations are not only convenient for guests but also o er vibrant experiences that enhance the appeal of your property. Often, the properties that meet these criteria are condominiums or apartments within gated communities or buildings. This Red List features several examples of such properties, helping you make an informed decision on your investment. So, dive in and get ready to fall in love with the possibilities!
The chart below is not property specific and the range indicated considers the properties that are being featured in this edition of The Red List. If you would like specific details, a Terra Caribbean agent will gladly assist you and provide you with all the information you will need to make an informed decision.
NET REVENUE in USD
$23,000 - $60,000
EXPENSES in USD
Common Area Maintenance
Contents Insurance
Land Tax
Electricity
Telephone/TV/WiFi
Water
Property Management
Sta
Pest Control
Miscellaneous
TOTAL in USD
$4,000 - 18,000
- $400 $250 - $5,000 $1,000 - $6,000 $1,000 - $1,6000
$475 - $700 $400 - $4,500
$2,500 - $5,000 $250 - $450 $200 - $2,500 $9,000 - $41,000 2.1% - 7.0%
We hope the 2024 publication of "The Red List" serves as a valuable resource in your journey to find the perfect property in Barbados. Whether you are looking for a vacation home with the potential to earn income or a permanent residence, the properties highlighted in this guide represent suitable options available on the island. Take the next step towards making your dream of owning a piece of Barbados a reality and let our team at Terra Caribbean assist you in navigating the exciting world of Barbados real estate.
Jessica Gittens Real Estate Agent
OCEAN REEF 301
Worthing, Christ Church
Welcome to luxury living. Each ultra-modern, condo is furnished to the highest standards and o er private covered parking. Apartment 301, has an additional study, and provides stunning southwestern-facing views. Residents enjoy private ocean access, a beach area, an onsite gym, and 24/7 security, making Ocean Reef a premier turnkey investment opportunity.
3 Beds • 3 Baths Floor Area: 1,929 sq. ft. Furnished List Price: USD$1,250,000
LANTANA 15
Weston, St. James
ST. LAWRENCE 10
Dover, Christ Church
Located on the top floor of a secure, gated complex, it overlooks the communal pool and o ers distant sea views. With an open-plan living and kitchen area that features large bifold doors leading to a private patio, its perfect for alfresco dining and enjoying sunsets. Lantana 15 is also a quick 5-minute walk from Thunder Bay beach.
2 Beds • 2 Baths
Floor Area: 958 sq. ft. Furnished
USD$545,000
Nestled in the heart of St. Lawrence Gap, this charming apartment o ers both convenience and tranquility. Just steps from a secluded beach, it features a pool, a private terrace with sea views, and a fully-equipped kitchen. Perfectly located within walking distance of dining options, this apartment is the ideal base for enjoying the vibrant south coast of Barbados.
2 Beds • 2 Baths Floor Area: 1,044 sq. ft. Appliances Only List Price:
SANDY HOOK 32
Maxwell Road, Christ Church
A beachfront apartment o ering breathtaking views of Oistins Bay. The open-plan kitchen and living area lead to a terrace perfect for dining and enjoying the ocean vistas. The primary bedroom features ocean views, with an en-suite bathroom, with two additional en-suite bedrooms. This apartment provides beach access and is ideal for a quintessential beachfront lifestyle.
3 Beds • 3 Baths
Area: 2,300 sq. ft.
FAIRWAY VILLAS 3
Dairy Meadows, St. James
SEAFOAM HACIENDA 1
Worthing, Christ Church
This townhouse resides in a quaint gated community. Upon entry, an inviting open-plan kitchen greets you, seamlessly transitioning into a combined dining and living area, adorned with French doors that unveil a patio overlooking a cozy garden space. Fairway Villas residents also enjoy the convenience of a shared swimming pool and designated parking spaces for each unit.
2 Beds • 2 Baths • 1 Half Floor Area: 1,200 sq. ft.
AQUA IXORA 7
Jamestown Park, St. James
A ground-floor apartment with approximately 1200 sq. ft. of total space including a private patio where the beach is practically an extension of your living space. This apartment consists of a spacious open-plan kitchen, living and dining area. Sea Foam is a cooperative community and ownership is held by a single share of a corporation and each building is a separate corporation.
2 Beds • 1 Bath Floor Area: 1,200 sq. ft.
THE SANDS 76
Sandy Beach, Christ Church
Located in Holetown on the West Coast, Ixora 7 is just a 5-minute walk from the beaches and local amenities. A generous covered deck positioned on the end facing south/southwest, providing plenty of light, breeze, and stunning sunsets. Featuring secure entry, parking, and a communal pool and terrace area, making it a "turn-key" solution for easy holiday living and management.
1 Bed • 1 Bath
Centrally located in the Worthing area on Barbados' south coast, these stylish and contemporary condos feature many high-quality resort facilities, including two restaurants and bars, a large swimming pool, and a health spa. This two-bedroom duplex o ers, stunning views of manicured gardens and spacious grounds, just steps from the calm waters of Sandy Beach.
2 Beds • 2 Baths
Area: 1,000 sq. ft.
ZINNIA APARTMENT NO 12
Fitts Village, St. James
List Price:
USD$290,000
Nestled on an elevated plot, Zinnia o ers the perfect blend of serenity and convenience, just a leisurely 1-minute stroll from a pristine beach renowned for its tranquil swimming conditions. Unit No. 12, located on the second floor, is a fully furnished, open-plan sanctuary - ideal for those seeking a relaxed lifestyle.
1 Bed • 1 Bath
Floor Area: 612 sq. ft.
Furnished
RAINBOW VILLA
Worthing, Christ Church
List Price:
USD$1,950,000
A beachfront retreat nestled on Worthing Beach, o ering an escape amidst pristine white sands and crystal-clear turquoise waters. Adorned with local art, the Villa boasts a culturally rich interior, providing all the comforts of home. The verandah o ers a relaxing space creating the perfect beach retreat experience. Located within easy access to shopping, dining, and banking facilities.
4 Beds • 4 Baths
Floor Area: 1,937 sq. ft. | Land Area: 7,287 sq. ft.
Furnished
ASPIRE
Brighton, St. Michael
Two-bedroom condos introductory price: Starting at USD$995,000
Three-bedroom condos introductory price: Starting at USD$1,400,000
Introducing Aspire by IMAGINE - a limited collection of residences perfectly situated on the pristine shoreline of Brighton Beach. With only seventeen residences spread across five floors, this exclusive address presents a unique opportunity for private waterfront living. The residences include a four-bedroom penthouse, ten three-bedroom condos, and six two-bedroom condos, each impeccably appointed and boasting incomparable sea views. Outstanding amenities include an expansive roof deck, two pools, a gym with sea-facing windows, and covered parking. Aspire is currently under construction, with completion set for 2025.
Two-bedroom condos - Floor Area: 1,432 sq. ft.
Three-bedroom condos - Floor Area: 1,941 sq. ft.
ABOUT TERRA CARIBBEAN
Terra Caribbean is the leading regional real estate firm with o ces in four Caribbean territories, o ering a comprehensive suite of real estate services for both residential and commercial properties. Our experienced team assists with purchases, sales, long-term rentals, facility management, and advisory and valuations, and is dedicated to helping clients realize real estate success.
Terra, Welches, St. James, BB 23016
T: 1 (246) 434-9000
e: infobb@terracaribbean.com
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