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BARBADOS
www.barbadospropertynews.com April - May 2014 Issue 92
Endorsed by theBarbados Estate Agents andValuers Association
Inc.
Artist Impression, Apes Hill Clubhouse, West View - Page 20
Caribbean Island Properties - Page 15
Boarded Hall Green - Page 19
Sunset Villas - Page 27
PROPERTYNEWS
FREE&
ONLINE
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This beautiful 3-bed penthouse condo situated in the prestigious
Port St. Charles marina, features a 60 ft. boat berth, private
pathway to the beach and 2 terraces.Sale Price: US $4,250,000
Port St. Charles 371, St. Peter
Specialising in luxury properties for sale and rent in
BarbadosContact one of our experienced sales agents:T: (246) 422
2618 | E: [email protected]
Villas On The Beach 403, St. James
This luxurious 3-bed penthouse features an open-plan layout and
enjoys dazzling sea views and direct beach access. Its accentuated
with an inviting lagoon-styled pool and landscaped gardens.Sale
Price: US $1,950,000
Waterside, St. James
Well-appointed 1, 2 & 3-bed beachfront condos and a
contemporary 5-bed penthouse have high-end finishes with beautiful
interiors. Stunning views of Paynes Bay Beach, pool and on-site
gym.Sale Price: : US $675,000 - $2,800,000
EXCLUSIVE COMMUNITIES
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Newton House, Battaleys, St. Peter BB26094, Barbados W.I.
This elegant 3-bed duplex highlighted by a plunge pool and
beautiful lake and garden views, is nestled in the exclusive Apes
Hill community. Its elevated location, affords cooling breezes.
Sale Price: US $850,000
Our portfolio ranges from expansive villas to modern beachfront
residences
www.bajanservices.com
Apes Hill Polo Villa 18, St. JamesBeam Reach, St. Peter
Set on 20,000 sq. ft. of gardens, this stately 5-bed villa
features a swimming pool, deck, pavilion and apartment. Near to
Mullins & Gibbs beaches.Sale Price: US $800,000
Enjoying spectacular views from a prime ridge-front location,
this impressive 5-bed villa is spacious and features a charming
self-contained apartment on a lower level.Sale Price: US
$2,995,000
Villa Anthena, St. JamesHeywoods Estate 160, St. Peter
This magnificent 3-storey home features 3 bedrooms, a pool with
a gazebo and large living spaces for entertaining. Close to Port
St. Charles and Heywoods beaches.Sale Price: US $945,000
Elegant Retreats
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We live in an era of great economic challenges and everyone has
an opinion on thebest way forward. However, not many people are in
a position to influence materialfactors so we must place a lot of
trust in Government, economists and leaders acrossa number of
business sectors. And therein lies the dilemma. Why do these
expertsand decision makers send out conflicting messages when the
information they workwith must be the same for everyone? Little
wonder the proverbial man in the street is confused. That said, the
most important decisionmaker in our lives is you and throughout
life
we have options and opportunities even in toughtimes. We pick
our career, our partner, our car, ourlifestyle, our sport, our
church, where we want tolive, and if we want to buy or rent our
home. These
are big decisions in our lives and the ones that matter most in
bringinghappiness, success and satisfaction. Everyone can point to
a particularchoice that has been the most important part of their
lives and very often itis the choice of home. It is a huge decision
and one, which should not betaken lightly. We hope through the
pages of Barbados Property News youfind the professionals to
assists you in your choice and above all, theproperty that will
form a huge part of your everyday life. Even if you are avisitor
and seeking a second or retirement home, the choice is just
asimportant.
Select wisely and you will reap the benefits over many years,
perhaps alifetime.Best wishes, Pamela HilesEditor
Editors Comments
If you would like to advertise in Barbados Property Newscall Pam
at 228-9122 or 232-0692
Publisher Hiltop Publications Ltd,11 Cottage Ridge, St George,
Barbados,BB19071Tel (246) 228-9122, Fax (246) 228-0243Email:
sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.caribbeanmortgageservices.com
Editor/Advertising Pamela L Hiles
Design and Art Direction 809
Distribution Hiltop Publications Ltd,Brians Print Brokerage
Printing Coles Printery
The Material and editorial contained in thispublication have
been deemed accurate at thetime of going to print. The views
expressed aseditorial are those of the Editor unless
statedotherwise. No part of this publication may bereproduced
without the consent of thepermission of Hiltop Publications
Ltd.
On the Cover: Apes Hill Clubhouse
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2014 Wolseley. All rights reserved.
Browse our spacious showroom at Canewood Industrial Estate for
quality appliances by SMEG, BOSCH and U-LINE. See the latest
sanitary ware and plumbing products from Kohler, Duravit, Hansgrohe
and
Grohe. We also feature architectural hardware by Rocky Mountain
and Ashley Norton and lighting by Progress, Seagull and Feiss. Come
in today to see all this and more!
#6 Canewood Industrial EstateSt. Michael246-627-0580
[email protected]
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FO
R R
EN
TF
OR
SA
LE
Visit our website www.cipcaribbean.comor call David Coombes at
826-6263 or (246) 424-6633 Email: [email protected]
FO
R S
AL
E
St. Lawrence GapTwo x 2 bed apt. property near beach, Shortterm
rental investment - BDS$950,000
Eagles Nest, Dairy Meadows, St. JamesAttractive 5 bed home with
large swimmingpool near the west coast - BDS$10,000
Highpark Meadows, St. JamesSpacious, modern and beautifully
finished 4-bed/4 bath home with pool - BDS$2,590,000
Long BeachSuperb Beach front lot with planning permission
for 2 units. - BDS$790,000
Durants, Christ ChurchCharming 3-bed/3-bath residence with
swimmingpool in mature neighbourhood - BDS$5,500
Oasis, Fort George Heights, St. MichaelBeautifully furnished
4-bed/3-bath family home withpool in desirable neighbourhood -
BDS$7,500
Yorkshire Plantation - This superb Great house is in fabulous
condition and captures the spirit of a grand traditional Barbadian
Plantation home with its magnificent wooden staircase, large
reception rooms, patios and bedrooms. The property sits on three
acres,is beautifully maintained and includes some out
buildings.
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It may not be obvious to the passive observer, but a lot
ofexciting things are happening at Apes Hill these days.Perhaps the
most exciting news is that construction of the new
Apes Hill Clubhouse will commence later this year after the
ApesHill Club appointed renowned local Architect Larry Warren to
thejob. We have since learned that the preliminary design
isprogressing well and that the completed clubhouse willaccommodate
the Golf Operation, Fitness Centre, Tennis Centreand Resort
Swimming Pool as well as the Clubhouse Restaurant& Bar. This is
a tremendous fillip for the development, whichalready boasts some
magnificent real estate and one of the bestgolf courses in the
Caribbean. Soon it will add a vibrant socialhub in its majestic
setting.Certainly the artists impression has fired the enthusiasm
of
everyone associated with the project and is sure to enhance
analready impressive sporting real estate lifestyle. Everyone
appreciates the construction climate in Barbados is
experiencing contraction, but in many ways this has worked
wellfor the buyer and resulted in a more competitive market.
Whilstsome material prices have increased and there have
beenfluctuations in energy prices, labour rates have
remainedunchanged since 2009 and in many cases builders have
reducedoverheads and profit margins to remain competitive. This
providesan exciting window of opportunity for the owners and buyers
at
Apes Hill Club, as it is a great time to plan and build a new
home. The Project Management Team, headed by Donovan Bagwell,
will be delighted to discuss the design and construction of a
newvilla at Apes Hill Club. This Project Management Team
hasunrivalled experience in building luxury villas with access
tonumerous designs and close relationships with a number ofleading
local Architects. They will not only manage your project,but also
assist you navigating the design and construction maze,a process
that may seem bewildering and often stressful toprospective
buyers.Donovan isnt one to rest on his laurels and when asked
to
highlight the assets of his team he preferred to quote one
veryhappy owner; "Before we embarked on this project in 2011 we
were inclined to
buy a completed house rather than purchase land and build.
Wewere nervous of building as we had no experience of such
matters,Barbados is a long way away and everyone has nightmare
storiesabout builders. Using the Apes Hill Club Project
Managementservice made the process straightforward and enjoyable"
Owner, "Ard Na Mara", Moonshine RidgeWe understand more owners are
coming forward to start
building and there has been considerably more interest
inpurchasing lots than this time last year. These are exciting
timesfor the Apes Hill Club.
Plenty Happening at Apes Hill Feature
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FINAL PHASE ONLY FIVE UNITS LEFTPRICES STARTING AT
BDS$425,000
NOW
SELLING
Land/Construction detached single storey homes
1,200 sq ft three-bedroom design
Small community of 15 units in quiet cul-de-sac
Plot sizes approx 4,000-4,500 sq ft.
First phase of 10 units sold and six completed
Located just off Enterprise Road a few minutes drive from
Oistins
Up to 100% mortgage facilities available
FOR MORE [email protected]
Tel- 230 9215Or visit website- www.carters-grove.com
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Everyone thinks of Barbados as anisland of glitz, high costs and
expensiveproperty, and while it certainly has allthree elements,
everyday life is muchthe same as many other parts of theworld. And
that includes property atrealistic and affordable prices.
To own your home is a bigachievement and while most peoplebuy
with the benefit of a mortgage, it is
an investment into your future and can create a lifestyle that
hasmany benefits. It may seem tough for first-time buyers to get
onthe property ladder, but in many cases it is a question
ofprioritizing your ambitions and setting plans in place to
achievethem. And financial planning in your Fifties is just as
importantas in your Twenties so buying property is not governed by
age.That said, many tenants look back over the years at the
moneythey have spent paying rent and lament the missed
opportunity.Quite often the cost to repay a mortgage would have
been lessthan a monthly rent, and after 25 years you own your home,
notfill the pockets of your landlord. Buying your home is not
justbuying a lifestyle it is an investment that will become a
valuableasset once you have cleared your mortgage. Or if you decide
tomove to a bigger and better home, it will be collateral that you
cansell and have a bigger deposit as you move up the market. The
local market will also appeal to returning nationals, many ofwhom
regularly visit the island and harbour strong feelings toretire
here in the future. Not only is purchasing straightforwardfor them,
but mortgage finance is also available to help defray thecost.
Carters GroveCarters Grove ticks all the right boxes for home
seekers in the$425,000-$445,000 price range. This small development
islocated in a quiet cul-de-sac just off Enterprise Main Road
inUpper Carters Gap a few minutes from Oistins. It has a
ruralambience and the ten three-bedroom detached units are all
onindividual freehold lots. All ten are sold and five are
currentlyoccupied with the other five under construction. The
second andfinal phase of five more units has now been released and
theentire development should be completed within the next
12months.A sales package is available and extras can be
accommodated onrequest. Mortgage finance is also available from a
number of lendersand free mortgage broker services are available
from CaribbeanMortgage Services ([email protected])
to ensuregetting finance is not a problem. Purchasers can get up to
100%funding if they qualify.Carters Grove will appeal to a variety
of people including first-time buyers, people who love the
Enterprise/Atlantic Shores areaand returning nationals looking to
buy a piece of the rock. Thepurchase price includes buying the land
and construction, bothof which must be done at the same time.
Located within two minutes drive from beautiful Miami Beachand
Atlantic Shores and four minutes from Oistins fishingvillage,
Carters Grove is also within easy access to all SouthCoast
amenities and the Grantley Adams International Airport.It offers a
wonderful opportunity to buy your own home andenjoy the rewards of
a healthy lifestyle.For more information call 230 9215 or email
info@carters-
grove.com or visit the website www.carters-grove.com
Carters Grove presents a greatopportunity to get on the property
ladder
Feature
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Come home to luxury, privacy and service.
CAPTURE your MOMENT
Saint Peters Bay Luxury Resort and Residences o ers spectacular
three- and four-bedroom beach- front homes for ownership or
vacation rental. Located on the islands northwest coast, this
resort is the epitome of gracious Bajan service and features a
lagoon- style pool, fi tness centre, gazebo bar, beauty salon and
water taxi service. Saint Peters Bay, capture your moment of Luxury
with Soul.
246 419 9602 stpetersbaybarbados.com
[email protected]
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Fast growth leads toexpansion and relocation!Caribbean LED
Lighting Inc (CLL) is proud to officially announcethe opening of
their new location in Lower Estate, St. Michael.The move to a new
larger factory and office space is a directresult of CLLs continued
success in the Barbados and exportmarkets. As the only accredited
manufacturer of LED lighting inthe Caribbean, CLL continues to grow
its export market whiletaking a leading role in the local LED
market. The new facilityprovides the space to expand manufacturing
and better serveour local and export customers. With distributors
in Trinidad &Tobago, St Lucia, St Vincent, Turks & Caicos,
Puerto Rico andSuriname, CLL continues to earn much needed foreign
exchangefor Barbados while creating new green collar jobs here
inBarbados.The Energy Efficiency (EE) and Renewable Energy (RE)
markets continue to grow despite the current economicsituation.
CLL is addressing both these markets with high qualitymade in
Barbados products backed by extensive warranties. Weare excited
about the future and the team of high caliberindividuals who are
making CLL a Bajan and Caribbean success
story said Jim Reid, CLLs CEO; he added, we no longer haveto
import these products from the USA or elsewhere, we canmake them
just as good- if not better right here!
About Caribbean LED Lighting Inc.CLL officially incorporated its
operations here in Barbados inAugust 2011 and manufactures under
exclusive manufacturinglicenses; a wide range of high quality LED
lighting products both(EE) and (RE) with warranties ranging from 3
to 5 years. As therecent winner of the IDB Compete Caribbean
Innovation Award,CLL intends to ameliorate the Barbadian economy
through theircontinued fast growth and export achievements.
For further information contactMr. Jim Reid, C.E.O, Caribbean
LED Lighting Inc, at#3 Square Foot Complex,Lower Estate, St
Michael, Barbados;telephone number 621-0092/94or visit the website
at www.caribbeanledlighting.com
Above: Jim Reid (right), CEO Caribbean LED Lighting Inc with the
British High Commissioner Victoria Dean
Caribbean LED LightingOfficially Opens New Facility
Feature
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Disc ScrubberBDS 43/175Scrubs & polishes oors
$2999.99Inc VAT.
Karcher Warrens Tel: 425-9999Karcher Wildey Tel:
[email protected]
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44
According to Wikipedia homeownership in many Baltic States is
over90% and communist countriesdominate the top 20 positions on
theglobal list. Home ownership is thepercentage of properties
ownedmeasured against the total number ofproperties in that country
and it maysurprise many people that Romaniatops the list with
96.6%. What will notsurprise many people is that no
Caribbean country figures in the 43 countries where the
break-off is 40%.The statistics are illuminating given the feelings
of the West towards theEast and while there are many advantages to
democracy in the freeworld clearly home ownership is not the best
of them. Russia (84%) andChina (90%) sit well above the UK (67%),
United States (65%) andCanada (69%). There are probably
socio-economic factors that mayexplain the reasons behind the
numbers, but it is unlikely they apply tothe Caribbean where many
islands have very low levels of income andconsequently home
ownership.Owning a piece of the Rock is a well-worn marketing
slogan that hasbeen rattling around Barbados real estate for years.
SuccessiveGovernments have also given it plenty of coverage in
their electionmanifestos and leading party officials often talk
about the importance ofBarbadians having the opportunity to buy
their own home.But are we really serious about it?After all,
property prices are high and the cost to purchase is punitive
incomparison to other countries. Even when the would-be buyer
savesenough to make the down deposit, the ancillary costs outweigh
thedeposit and become deal breakers for many people. High legal
costs, highinterest rates, high mortgage fees and high insurance
charges are lethalblows to new buyers and the common denominator is
the word high.The problem is not one that can be solved by the
customer and thereinlies the dilemma. Who will take responsibility
to champion the cause ofmore home ownership? In reality there are
only two contenders, namelythe Government and the lenders. Other
players can help, but the thrusthas to come from these two sectors
and right now they dont appear tosee it as a high priority. After
all, what has Government really done topromote home ownership?
There has been plenty of rhetoric, but littledelivery. And what
about lenders, what innovation and vision have theybrought to the
table? Unfortunately, very little!
Virtually all the lenders in Barbados continue to lend with
terms andconditions that have been in existence for decades. Quite
simply, theyhavent moved with the times and their motives remain
transfixed in theprofits zone. Thats not to say you cant have
profits and boost homeownership. Quite the contrary. What is takes
is commitment, vision anda willingness to help more Barbadians
purchase their own home. We need100% mortgages, lower mortgage
interest rates, deferred payments forfirst-time buyers, lower legal
fees, a fairer mortgage indemnity scheme,24-hour processing, one
month completions, valuation fees paid by thelender for their
valuation report, removal of obligatory life cover, and
noadministration or negotiation fees. After all, the administration
is doneby staff already in place and there is no negotiation. Why
should thecustomer have to pay this fee?As for Government-what
about really taking the initiative and driving apolicy of home
ownership for the good of Barbados and its citizens?What about
directing attorneys to set a fixed fee for all conveyancing
andmortgage work, abolish or lower Stamp duty on house purchase
andmortgages, offer tax relief for mortgage interest payments and
set specificstandards within the buying process through the Fair
TradingCommission? These standards should govern turnaround times
and thecost of buying and selling. They should determine legal
fees, real estatefees, and valuation fees and embrace the
mysterious and self-governingworld of insurance. After all, the
compulsory mortgage indemnityinsurance is almost a license to print
money, very expensive and notneeded in many instances. Property
insurance premiums could be lowerif the Government gave some
guarantees or at least colluded with theindustry to drive costs
down.Other players in the market could make a significant
contribution
towards home ownership by reducing their costs and fees, but
realisticallythis is not going to happen. The legal profession is a
mess, real estateand valuation fees are being kept high through
self-preservation and self-regulation. Why would we expect any
profession to lower its income?Well, because it would help
stimulate a suppressed property market,
generate more sales, lead to greater efficiency and delivery,
help controlproperty prices, and boost home ownership for the good
of the country. After all, everyone should have a real opportunity
to own a piece of therock rather than listen to hollow
words.Clarence Hiles is a mortgage broker and former banker with
over 35years experience in property finance and related financial
services. Hecan be contacted at 246 230 9215 or by email
[email protected]
Are We Really Serious AboutHome Ownership?Asks mortgage broker
Clarence Hiles
Finance
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Weve Been There
We know this house, like we know every house we insure
HomeBusiness
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52
BEAVA News Real Estate News
Another lively, interactive training session was recently
hostedby BEAVA Inc. (Barbados Estate and Valuers Association) for
itsmembers on the uses of the Multiple Listing System.The refresher
course was held at Coconut Court recently and wastailored with
agents and staff from various real estate offices inmind, who were
experiencing challenges with the system, and alsofor those who
simply needed to improve on their skills.Paul Alleyne and Cherita
Odell, both BEAVA board members
were the facilitators of the three-hour session.Pooka Yhap was
one of the participants and walked away
grateful for the opportunity to lean more about the MLS and
itsbenefits: The interactive session certainly assisted with how
topresent the benefits of MLS to the vendor, she said.
Theapplication session was also very informative BUT more timeon
this section would have been better. (This training) is foranyone
who has not uploaded a listing on to the MLS site.Lauren Kierulf of
Rex Realty Ltd said she missed the first training
courses which BEAVA would have initiated just before
theintroduction of the MLS in Barbados: (so) I was very much in
thedark when it came to how to work with the programme.
Attendingthe training session allowed me to see the simplicity of
theprogramme and the advantages of this system. I am now a
keensupporter and will be uploading my listings any day
now!Participants also benefited from a presentation delivered
by
CIBC on its new mortgage packages promotion. It was
aninteresting, interactive delivery, said Cherita Odell. We told
them(CIBC) what agents were looking for from a mortgage
financecompany which is speed the ability to find out in a
timelymanner whether a client qualifies for the purchase of a
particularproperty and they educated us on various aspects of
theirmortgage finance offerings.Stay tuned to BEAVA news for
another engaging course coming
you way again soon!
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