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Barbados Bound - Why Celebrities flock here year on year!

26th August 2010

Michael Winner, Simon Cowell, Philip Green, Trevor Eve, Richard E. Grant, Amanda Burton, David and Victoria Beckham, David Frost, Lulu, Andrew Lloyd Webber, Wayne Rooney, Jemima Khan, Hugh Grant and not forgetting Cliff Richard and Cilla Black!

What do all these people have in common?

They all either holiday or have property in Barbados.

So why is this Caribbean island the second home location of choice for all of these celebrities?

I think firstly it is the idea of security, you are in the Caribbean but as long as you stay on the west coast you are never far from a cocktail bar, mulit million pound house or exclusive golf club.
Over the last 15 years the West Coast of Barbados or the Parish of St James has risen from relative obscurity to command the name ” the platinum coast”. It is now widely known as one of the most exclusive and expensive areas to live in the world.

With the cost to stay at the exclusive Sandy Lane Resort coming in at around £40,000 for a week over Christmas this location is certainly not cheap!
Expect to pay roughly the same in Barbados as you would in central london for dinner at a top restaurant.

So after all of this, why does tourism in Barbados continue to grow year on year?

Well actually its kind of because of this, the average joe would rather pay more to be near these kind of celebrities, they will probably never meet Michael Winner strolling down Sandy Lane beach but its the prospect of this happening that keeps people enthused.

And for the celebrities, its like a home away from home, at Christmas around Sandy Lane the same celebs come back year on year, they all know each other, they know the restaurants they  can go to unhounded, they know the areas they can sunbathe without being papped!

Why would this change, the celebs can afford to holiday here, prices can increase as much as you like, your not going to price any of the above out of the market!

So what about the average person?

Well there are still some areas where you can pick up property at reasonable prices.

Just 5 minutes from Sandly lane and 2 minutes from The Royal Westmoreland golf course is Weston Resort, prices here start from just £180,000 for a ground floor 2 bedroom apartment. Fully furnished and ready to rent you are probably looking at £200,000. With mortgage available at 65% loan to value and only needing a 35% deposit you can buy one of these with just £63,000!

With possible rental yields of over 10%, not only could you afford to buy it but it would actually make you money year on year. Compound this with the fact you could safely holiday in this every year and remain fairly exclusive (under 50 apartments on this development) and you begin to imagine why this scheme is nearly sold out with around a year till completion.

For more information on how you can invest alongside the celebrities of barbados call 0800 043 6956 or email info@freshinvest.co.uk.

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