Luxury Property Barbados

Luxury property in Barbados is proving irresistible for wealthy overseas property buyers and those in search of sun, sea and tranquillity. Barbados real estate market has gone from strength to strength with overseas buyers from the UK making up a large percentage of international buyers. Owning a luxury holiday home in Barbados can be very rewarding with the islands tourist industry booming. Recently the cricket world cup saw all rental accommodation under so much demand ships were brought in to provide more accommodation.

Featured Luxury Property For Sale

The Penthouse Apartment Luxury property in Barbados

Luxury property for sale Barbados

The Penthouse apartment is a luxurious three bedroom three bathroom apartment overlooking the beach at Mullins, one of the most sought after areas on the exclusive platinum, west coast of Barbados. The property offers stunning views over the Caribbean from both the shaded, lower terrace and the upper sun-terrace, which also includes an indulgent spa pool. The lower terrace affords comfortable, cool, alfresco dining, whilst retaining the views of the beautiful turquoise sea. The table seats six and is accompanied by a barbecue grill and 30-bottle, wine fridge.

Penthouse Apartments A Luxury holiday home

The sale of this apartment presents a sound business opportunity for investors who could generate a good income from a buy to let, vacation or holiday home venture.

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Tax on luxury holiday homes in Barbados

Owning a luxury apartment in Barbados can be very lucrative the rental income achieved from a destination that is available all round will be better than long term rentals. There is an active rental market for both long-term and vacation rentals. Returns in the residential market can vary widely depending o the type of property but in general investors should expect returns in the 5% to 12% range on income plus capital appreciation. Property owners wishing to rent their property on the short-term rental market must apply 7.5% VAT to the rent. The registration for VAT allows the property to deduct VAT on input costs. The profit derived from the rental activities will be subject to income tax in Barbados, and a remittance of a dividend or interest.

Capital: Bridgetown

Population: 268,000

Currency: Barbados dollar

Official language: English

Political status: independent nation, member of the Commonwealth

Entry requirements: please go to the official Barbados tourist site – click the link above

Area: 166 square miles. (430 sq km)

Religion: More than 70 denominations, the largest Anglican, with big groups of Methodists, Moravian Brethren, Roman Catholics and Jews.

Business: Banks are open 8am-3pm, Monday to Thursday, and 8am-5pm on Fridays. The main banks are Barclays Bank, Bank of Nova Scotia, Barbados National Bank, Canadian Imperial Bank of Commerce, Caribbean Commercial Bank and Royal Bank of Canada. Cash dispensers are available. Shops are open 8am-6pm weekdays and 8am-noon Saturdays. Payment cards are widely accepted.

Electricity: 110 volts AC, 50 cycles. Most hotels have 220 AC.

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Barbados - Wikipedia, the free encyclopedia

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