Real Estate Prices in Barbados

Barbados has established a well-deserved reputation for a comprehensive selection of real estate opportunities and location choices, from studio apartments to luxury villas and magnificent plantation homes, lifestyle resorts, golfing and polo estates, and everything else. The popularity of secure or gated communities has driven a sharp growth in these developments; many have different phases planned and include a broad range of community facilities on site.

The price of real estate – land, property, or both – varies considerably according to location. Beachfront anywhere on the island is at a premium, and prices will reflect this, especially on the West Coast, where a luxurious villa directly on the beach could set you back well over $10 million in US currency. The high demand for oceanfront views has resulted in many new condominium developments, some of which can be picked up for around just under $1 million. There are more affordable opportunities to invest in studio beachfront condos on the South Coast, starting at $175,000; several projects are planned to build luxury oceanfront apartments in Christ Church. Some residential developers offer purchasers all-inclusive packages, including land and house, taking some guesswork from creating your own home.

There has recently been a resurgence in the popularity of country estates and plantation homes as an alternative to beachfront living; depending on the size of the estate, prices can start at under a million US for a stand-alone plantation house that needs some work to rise considerably for a well-restored country estate luxurious outfitted from the furnishings to the fittings. Traditional Barbadian-style homes in residential areas can start from around $200,000 for a three-bedroom in St Philip to $650,000 for a four-bedroom in St George.

In terms of building your own home, be prepared to pay anywhere from $150-300 per sq ft depending on the finishes; don’t expect to be able to start building until at least May 2007, as the current building boom together with the frenzy of projects driven by the impending Cricket World Cup has the majority of construction companies fully booked until then.

Whatever your reasons for purchasing, once the sale is complete, it is necessary to consider the many options in the market for property services. Most leading real estate companies have been property managers for over twenty years and have a great deal of experience; the best are recommended by word of mouth and will have a complete package of services, including a rental program and dedicated management staff.