Caribbean Investment Property, which is located on the west coast of Barbados, has proven to be some of the most secure real estate investments in the region. The return on investment for Barbados luxury real estate has been an average 8-10% per year for more than twenty years. Because of the increasing scarcity of beach front property on the west coast of Barbados, there has been a growing trend to Barbados luxury condominium developments on the few remaining sites.
Caribbean Investment Property – Barbados Luxury Condominiums Leading The Market
Barbados luxury condominiums have been leading the demand for Caribbean investment property because of the high quality of these developments and the exceptional quality of life that has been achieved in this Caribbean island.
International interest in Caribbean investment property has been steadily growing even in times of economic slow-down as we are currently experiencing. Wealthy individuals and families from northern climes have continued to seek warm weather destination where it is safe and the quality of life is enjoyable. While luxury real estate developments are being offered in almost every island in the Caribbean, Barbados continues to stand out because of the amazing quality of life that it has achieved over the last forty-four years since it gained independence in 1966. It should be noted that Barbados is the first country in the Caribbean and Latin America to be classified as “Developed” in the recent 2010 UN Human Development Index (HDI). Barbados therefore joined the ranks of the world’s “developed” nations in terms of providing people with an excellent quality of life.
The Human Development Index (HDI) measures performances in health, education, income, and other quality of life indices. Based on the HDI, Barbados, which has been called the “Singapore of the Caribbean,” joins such countries as Israel, Hong Kong, Singapore, Slovenia, Cyprus, Malta, Lichtenstein, Bahrain, Qatar, Andorra, San Marino, Brunei Darussalam, Monaco, United Arab Emirates, and Estonia on the list of “developed” countries.
Barbados Luxury Condominiums – West Coast Still Most Popular
In the last few years there have been several Barbados luxury condominium developments on the west coast. Starting in the north near Speighstown, these investment properties have been sprouting up on beaches going all the way south to the area between Sandy Lane Hotel and the new Four Seasons Hotel project. The architecture, the amenities and the landscaping of these luxury developments is incredible. One of these Barbados luxurious condominium developments has been awarded the prestigious 2009 Best International Apartment by International Property Awards in association with CNBC Arabia, as well as two five-star awards for “Best Apartment in the Caribbean” and “Best Development in the Caribbean”.
These incredible luxury condominium developments, which are being offered on the Barbados west coast, are some of the best to be found in the Caribbean. Most of these Caribbean investment properties are the kind of luxury developments that appeal to wealthy individuals, who are seeking a unique second home in a safe and enjoyable warm weather Caribbean island. Barbados has positioned itself as the number one place to buy investment property in the Caribbean.
Barbados Luxury Condominiums – South Coast Beach Environment At Risk?
Because of the growing scarcity of beach front land on the west coast of Barbados, there is a growing interest in luxury developments on the south coast. One recently completed Barbados Luxury Condominium project that is of note is the Palm Beach Luxury Condominiums. The south coast beach, on which this project was developed, is particularly interesting because it is a protected beach access for the sea turtles, which come to nest in the soft white sand. It is an unbelievable sight to see the large turtles (up to four feet wide) digging a place in the sand, laying hundreds of eggs and covering them before returning to the ocean. You may also be fortunate to see young turtles struggling out of the sand (after they have hatched) and making the short trek to the ocean on a clear moon light night. A few of these little creatures will grow and survive to return to the same beach and lay their eggs to produce another generation of these fascinating sea creatures.
While the development of Caribbean Investment Property is welcomed by small island states like Barbados, there is a growing awareness that each development project must be evaluated to ensure that the environment and wild life will be protected. Governments in the Caribbean will need to be vigilant in maintaining this fine balance between the need for economic development and the need to ensure protection of the environment; a feature, which makes these islands such precious gems.