Property owners in Barbados have reportedly been reducing their asking prices by up to 10% in a bid to sell their property before the traditional ‘selling season’ comes to an end.
These reductions are not by a few thousand pounds either; with Barbados being one of the most expensive countries in the world, reductions are substantial. For example a Barbadian property was recently reduced from $2.5 million to a mere $1.8 million – bargain!
A firm favourite with British buyers, if you are looking to buy a property in Barbados, then now is the best time, as winter draws nearer and the prices fall dramatically. You don’t need to be a millionaire to buy in Barbados however, and a 2 bedroom property can be purchased for around $500,000 (about £300,000).
Barbados is the perfect place to own second homes too, as rental investments make very good returns all year round. The island is also widely regarded as a financial haven, meaning things retain their value well.
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