Embed Size (px)
DESCRIPTION
Property Sales, Rentals and Services in Barbados
Citation preview
BARBADOS
www.barbadospropertynews.com • October - November 2013 • Issue 89
Endorsed by theBarbados Estate Agents andValuers Association Inc.
Alleyne Real Estate - Footprints - Pages 27 & 50
Terra Caribbean - Page 2
Boarded Hall Green - Page 30
Vuemont - Page 21
PROPERTYNEWS
FREE&
ONLINE
9:31:30 AM
6 Bedrooms | 5 Bathrooms | Appliances: Dishwasher
8
Tourism drives the Barbados economy and indeed most of the economies in theCaribbean islands, but it can’t carry the full burden and in these tough times so muchmore support needs to be directed across other key industries like construction andreal estate. It was disappointing that the recent Budget missed the opportunity toinject life into these sectors as overall, the Barbados real estate market continues totread water. This is in contrast to the US and UK markets where house prices andvaluations have been on the increase. London is an exception with an annual 10%increase distorting the UK averages, but throughout the UK most regions areshowing increases. The same could be said forhouse prices in the top 20 US cities where 12% hasbeen the revolving annual increase in recent times.This is important for islands like Barbados, as it
has taken longer than predicted for confidence to return to the propertymarket. Our main sources of overseas property investors come from theUK and the US, so when their markets show improvement the spin-offwill eventually filter into the Caribbean. Like most places we took anundeserved hit with global recession so we welcome any positive changethat will help restore former prosperity. After all, it seems unfair as ourlovely island hasn’t lost its charm or beauty and remains an idyllic place tolive and holiday. That’s why so many people have second homes here andwhy it is the wish of every Barbadian to own a home.We hope through the pages of Barbados Property News or our website atwww.barbadospropertynews.com you find the property to fill your dreams.Pamela HilesEditor
Editor’s 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,Brian’s 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: Footprints
live what you loveget creative
Products ,photos and contentprovided by:
3 simple ways to get you startedThe easiest and most budget friendlymakeover ever, is to spruce up your spacewith interesting soft furnishings and exctingaccessories. Add your favorite paint colour
Decide what you want to achieve with yourmakeover. Open up and brighten a dark room withlight walls and accent with colourful artwork.
Choose your favorite colour and do notbe afraid to mix patterns and textures.As long as you use complementary colours,your room will look pulled together.
For your ultimate designer lookselect conversation pieces and create visualinterest by adding accents rich in texture andcolour. Here this sunburst mirror becomesan interestingfocal point.
Remember togroup accentsin varyingshapes andsizes foroptimumappeal. Finishgrounding yourroom with acomplementingrug.
3.
2.
1.
st.lawrence gap 428-1183 millhouse & home 421-7968
www.walkersworldbarbados.com
Caribbean LEDLightingCaribbean LED Lighting has grown steadily since inception in early2011. We have seen consistent quarter on quarter growth both indomestic and international sales. Export sales will be the largestpart of revenue going forward as we continue to expand our reachthrough a growing network of authorized dealers. Wemanufacture, under exclusive licenses, using the very latest LEDlighting technology. From our Barbados factory we currently exportto nine countries, with dealers in Trinidad & Tobago, Suriname,Guyana, St Vincent, St Lucia, Turks & Caicos and Jamaica. Thisgrowth has meant that we recently have had to more than doubleour production and office space.
LED lighting is not just a good idea, it is the future and thebenefits of LED lighting make a compelling proposition:• Up to 80% savings in electricity consumed• Zero Mercury so safe to use and handle• Fully recyclable• They last over 50,000 hours• They are easy to install• Significant health benefits with safe natural lightingThere has never been a better time to “Look on the brighter
side” with Caribbean LED Lighting!
Feature
™Trademarks of The Bank of Nova Scotia.
Get a free mortgage check-up and see how you could:
Reduc y a
Sav ere
A ac ra r ovay c affor
Visit your nearest branch today.barbados.scotiabank.com/checkup
ould: ou cw ysee hotgage checkee mort a frGeould:
-up and tgage check
Nova of Bank The of rademarks ™T
barbados
Scotia.
Visit y
orfforfacycaA
ervSa
yeducR
om/checkupc.tiabankk.o.scbarbados.yy.anch todaest brour nearVisit y
avorar
eer
a
Barbados Office I Orena I St. Lawrence Main Road I Christ Church I Barbados I T 1 246 428 8091 I E [email protected] I www.bcqs.com
B A H A M A S B A R B A D O S B R A Z I L B V I C A Y M A N I S L A N D S G U Y A N A J A M A I C A S T L U C I A T R I N I D A D & T O B A G O T U R K S & C A I C O S
PROPERTY AND DEVELOPMENT CONSULTANTS
CHARTERED QUANTITY SURVEYORS
PROJECT AND CONSTRUCTION MANAGEMENT
REAL ESTATE VALUERS AND APPRAISERS
40
There is a life after Budget,although the long running saga ofcriticism, uncertainty, justification,punitive measures, reduced wages,misunderstandings, and in someinstances self-denial, might keepthe kettle boiling forever.Robbing Peter to pay Paul has
always been an integral part ofBudgets worldwide and thisBudget was no exception. The
Government had to show an austerity strategy and it did itwithout fear, but at the end of the day the shortage of moneywithin their coffers meant it was largely a case of punitive action.It remains to be seen if the proposed measures achieve theexpected results, but it hardly matters, as governments are onlyaccountable for their actions every five years. They answer onlyto their electorate and the results of the last election showedclearly not everyone understands the gravity of the currentBarbados economic mire. Worse still, we appear to be treadingwater awaiting the IMF lifeboat or lifebelt and unable to swim tosafety under our own steam. This Budget won’t jet-ski us tosafety no matter what rhetoric is used by the key players. It begs the question why do we need Budgets? After all, aGovernment has the mandate to rule 24/7 during its term inoffice and doesn’t need to present a Holywood-style presentationon any particular day to shift fiscal direction. If it is doing its jobproperly we have to assume that it takes the appropriatemeasures as and when they are needed rather than build up toa crescendo of give-and-take measures aimed at controllingexpenditure and increasing revenue. Budgets take more thanthey give and in tough times they can destroy the spirit of anation. Ask the UWI undergraduates or the high school studentswho won’t be going to university because they don’t have anyGovernment financial support. With regard to property, investment and helping young peopleget onto the property ladder, the Finance Minister missed anopportunity to make a meaningful contribution across severalsectors and help stimulate investment, employment, foreign
exchange earnings, tourism and local business. Of course, hecould still make life better by taking measures outside the glareof publicity, but in the business of winning Kudos and publicacclamation this seems unlikely. He could have stimulated the construction industry with taxconcessions on the import of materials and worker’s schemesto encourage aspiring young artisans to earn qualifications inthe workplace.He could have stimulated the real estate and tourism industriesby encouraging overseas purchase at a time when it is a fractionof what it was five years ago. Lower Land Tax tariffs, taxconcessions on rental income, and lower Property Transfer Taxare straightforward incentives, but he could also tackle the highcost issues associated with buying and selling property. Legalcosts are outrageous and worse still the level of customer serviceis probably the worst of any industry in Barbados. WhyGovernment continues to ignore it and at the same time laudour strong business ethic and high standards is simply self-denial. Our Finance Minister could also have helped people buyinghomes with a tax relief scheme to ease the burden of mortgagerepayments and he could have introduced a scheme for first-time buyers that would give them a lower mortgage interest rateto help them get on the property ladder. Schemes already existfor small business so why not for the small property buyer? Thiswould cost the Government nothing, as the interest rate chargedwould still be higher than the cost of funds. Stimulating the construction and real estate industries is vitalfor Barbados’ prosperity. We can’t expect the tourism industryto fund everything and we are not aligning the synergies of keyindustries for mutual benefit. We need innovation, stimulation and motivation or we’ll stoptreading water and sink!
Clarence Hiles is a Director of Caribbean Mortgage Servicesand Editor of Caribbean Property Magazine. He has writtenextensively on Caribbean business matters over the past 20years. He can be contacted [email protected]
Life After Budget Finance
42
Sagicor General AppointsNew President and CEOSagicor General is pleased to announce the
appointment of Mr. David Alleyne as its newPresident and CEO.Mr. Alleyne succeeds Mr. David Deane, who was
at the helm of the organization for over 20 years.Mr. Deane lauded the appointment of his
successor as an exceptional choice, whose academicqualifications, expertise and outstanding qualitieswill redound to the benefit of Sagicor General.Mr. Alleyne praised the outstanding contribution
made by Mr. Deane and promised to maintain theexcellence exhibited by the company; whileintroducing initiatives to ensure that theorganization remains relevant in an increasinglydifficult and competitive environment.Mr. Alleyne’s appointment started September 1,
2013.
Feature
SagicorGeneral.com | Tel: (246) 431-2800
HOMES AREN’T FIREPROOF.HOME INSURANCE IS.
Wise Financial Thinking for Life
• All BARP members 10% discount• Sagicor Life Insurance customers an additional 5%
Double BaffleGrease Traps
•• Fiberglass Construction.•• Smooth gelcoat interior for easy cleaning.•• No Rust. No Odour. No Rodents.•• Internal plumbing complete.
Rainwater Storage Tanks
•• Low Profile – Less Excavation Depth.•• Available in EPD recommended sizes.•• Polypropylene sealed cover. Odour Resistant.•• 4” Inlet and Outlet connections for easy plumbing.
Protect the Environment. Save our Water.
– The perfect combination of nature’s beauty and man’s
practicality!
Making YourDream Kitchen…
“Make The“Make TheResponsible Choice”Responsible Choice”
Newton Plantation Yard Christ Church • Tel: (246) 428-2920 • Email: [email protected] • Website: www.fiberpolinc.com
– The sculptured, elegant and personalised lookof Decoran adds distinction and harmony to any décor!
DECORAN
Newton Plantation Yard Christ Church • Tel: (246) 428-2920 • Email: [email protected] • Website: www.fiberpolinc.com
– From uniformedcrystalline beauty,
to a spectrum ofunpredictable
veins!
GRANITE
…aBeautifulReality!
QUARTZ
•• Rainwater is an inexpensive way to keep your property green.•• Fiberglass Construction.•• Custom sizes available.•• FREE site visit & quotation.
SEPMASTERSEPMASTERSEPMASTERSEPMASTERSEPMASTERHorizontal Septic Tanks
46
BEAVA EXPO AT BARBADOS YACHT CLUB
Members of the board of BEAVA are excited and ready to greetyou with smiles and open arms at its EXPO on Saturday October19, at Barbados Yacht Club.A special team of sponsors has joined BEAVA and will host aseries of mini-seminars in the Club’s Ball Room, aimed ateducating potential home owners and those who are simplycurious about home ownership or home remodeling orupgrading. These sessions will be held at various timesthroughout the day of the EXPO which runs from 10 a.m. to 5p.m. BEAVA is thrilled that CIBC First Caribbean, Flow (Columbus
Barbados) and Globe Finance Incorporated accepted itsinvitation to partner as sponsors of this inaugural event.Patrons will have many a presentation from which to choose
as these sponsors deliver on a range of interesting topics homeowners never tire of hearing:• Home Improvement – How Can Financing Help Me;• Sellers & The Law: What you ShouldKnow Before You Sell Your Property;• Things To Consider When Designing Your Home;• Home Sweet Home – Telecommunications & Entertainment Advances;• The Importance of Using A BEAVA Real Estate Agent;• I’m Ready To Buy, Now What and Buyers And The Law: What You Should Know Before You Purchase A Property.
Some 30 vendors will showcase their products and services inthe covered, but outdoor area to the front of the property.Visitors will mingle, browse and ask questions of real estateagents, residential and security experts, bankers, insurancebrokers, housing developers, interior design and furnishingexperts, property managers and surveyors.
BEAVA AGENTS GRADUATE
Sixteen men and women in the local real estate industry hadlots to smile about when they graduated from a course organisedby their membership body, Barbados Estate Agents and ValuersAssociation Inc (BEAVA).The members were formally acknowledged at a meeting and
cocktail event in September at Barbados Yacht Club forcompleting the four-week real estate course hosted by BEAVA inassociation with Barbados Community College, home of thecourse.Course topics covered included Code of Ethics and Standards
of Practice; The Real Estate Process; Comparative MarketAnalysis and Valuation; The Sales Process, A Legal Prospectiveand Leases and were taught by members and associates ofBEAVA Inc as well as attorneys from the law firm, Clarke Gittensand Farmer.
BEAVA News
(L-R) A. Michael Wood, Diana Marshall, Allan Kinch, Allison Maynard-Taylor,Cindy Coombes, Lara Jones, Jonathan Simpson,Anna Lee Warren, Luther Miller, Suelan Hart.
Real Estate News
Mrs. Suzanne Davis, Managing Director of Realtors RealEstate Limited is happy to announce that Realtors Real EstateLimited has joined forces with ERA Real Estate Global Networkas of October 1, 2013. Mrs. Davis said that we realise the benefitsof making the global resources and top tools of ERA Real Estateavailable to our customers and that is why we are proud to bean ERA Network Member. The ERA Network includesapproximately 2,400 offices throughout the United States and36 countries and territories.Realtors Real Estate Limited has a wide selection of properties
and a wealth of experience in the Real Estate business. Mrs.Davis said that the company has seven agents including herself,and two administrative staff and is still affiliated with Mayfair outof London. We feel this gives us the best reach across the worldand we are proud to be affiliated with both of these companiesand look forward to a long and prosperous association.
Realtors Real Estate Limitedjoins The ERA Real Estate Global Network
Real Estate News
Sitting on approximately 12,000 sq ft of prime beachfront land,Footprints is a property of quality and distinction.This Avant-Garde luxury beachfront villa is the first of its kindon Barbados’ Platinum West Coast and features clean lined andcontemporary architecture by Jeremy Gunn of Italica Design. Theluxurious interiors have been designed, furnished andaccessorized exclusively by “Kelly Hoppen.”The striking contemporary style and overall ambience takes fulladvantage of this unique elevated location to create the ultimatein Caribbean living. Two of the features are very special-The shimmering infinity edge pool softly blends into the strikingblue Caribbean Sea and an enticing meandering garden paththrough radiant tropical vegetation leads to an idyllic white sandybeach where you can relax with a tropical cocktail and enjoy theamazing array of burning colours from an unbelievable WestCoast sunset.The house is approximately 6,500 sq ft of covered space withfive bedrooms and five and a half bathrooms. The very spaciousMaster-Suite is elevated with a stunning view of the ocean andthe majestic Caribbean Sea.Footprints is what luxury beach front living in the Caribbean isall about. For information on this exclusive listing contact AlleyneReal Estate email [email protected] tel 246 432 1159.
Footprints:A Building of Distinction
50
![IB - Barbados International Finance & Business Magazine 2010 [Barbados]](https://img.pdfslide.us/doc/110x75/5553d3efb4c905c4048b4c4b/ib-barbados-international-finance-business-magazine-2010-barbados.jpg)
