Overseas Property, is it the little things that matter?
What really attracts people to purchase an overseas property, apart from location, price, and dimensional suitability? I would argue that it is normally the LOVE factor. Most people fall in love with the property they want to purchase and will normally go with the one that just feels right when they go to view it, sometimes even in spite of it not being “the best deal.”
The reason for the question is, believe it or not, to do with overseas properties and what developer’s currently use to entice buyers to part with their hard earned cash. We have just experienced something which we feel is a fantastic idea from the developer of our Barbados Property Investment.
As I said, I believe it’s the little things that matter when it comes to a purchase, so what if a developer gives you the chance to fully customise your apartment when you purchase it? On our apartment in Barbados, because we purchased early, we were given the option to change the layout of the apartment by moving non load bearing walls as well as specifying if we wanted air conditioning in extra rooms, fans in extra places, different styled lights, the list is endless!
The reason I write about all of this now is that all purchasers on Weston Resort and Ixora Resort are given their own personal secure area on the developer’s website, which details all correspondence, construction progress, legal documents and now… “Interior styling” the interior styling tab is a new feature and we think it’s just great! We are now given the chance to customise the whole colour scheme of our apartment as well as choose between different finishes in our kitchen from the worktops to the tiles even down to the washing machine.
We think it is vitally important for clients to feel happy right the way through their purchase of an overseas property, this is why we stay in contact with all of our clients, offering advice and updates right up to completion.
Please use the link for more details on our Barbados Property.
Barbados – Things are heating up!
Barbados, probably one of the most revered holiday destinations in the UK and arguably the world. The traditional busy period in Barbados tends to last from around the end of November to the end of January and with this, British Airways are advertising their Barbados winter holiday packages in order to convince some of those tourists to fly with them.
British Airways announced earlier this year that they would be increasing their services between London Gatwick and Barbados as a result of the increased demand currently being shown for the Caribbean island this is great news for anyone that has a vested interest in property in Barbados.
Although Barbados has a strong economy away from tourism it also relies heavily on the industry and all of the money bought into the country and spent in the country by tourists from around the world. This money can be invested into the local economy to promote future growth, which is good for the country as a whole.
All this is good for those investors that have purchased in Barbados or are thinking of purchasing in Barbados in the near future.
We are working (and investing) with a pioneering developer in Barbados that is offering excellent investment opportunities as well as properties ideal for a lifestyle purchase. All of the properties are priced far below any other comparable properties in similar locations. There is a unique system in place to ensure that maintenance costs are kept affordable and the developer has multiple offers from top hotel operators to run the development on completion. This gives purchasers – a low purchasing cost, low ongoing costs and high rental returns! Win, win, win!
Please click the link for more details of our Barbados Property Investment.
Barbados still holds strong in competitive tourism industry
News released by the Barbados minister of tourism earlier this week, is sure to put a smile on many of our clients faces! Even in tough times economically, Barbados is thriving as a tourism hotspot and still growing in terms of its tourist arrivals.
Any investor that is looking for maximum occupancy rates in their purchased property in Barbados will be happy to hear that Tourism numbers are increasing as it ultimately means there are more people visiting the island and there is more chance of their property being filled and thus a higher rental return.
Figures released this week stated that there was “250 385 stay-over visitors recorded during the period of January 1 to May 30, an increase of 13 724 from last year’s numbers, representing a 5.8 per cent increase in arrivals. Cruise ship passenger arrivals also grew 3.4 per cent for the same period in comparison to 2010.”
The above is great news for property investors however; apart from the increase in the stay-over visitors through this period, could there be an underlying message? To be able to determine this, I would like to see the figures for the traditional busy period of December to January when room rates tend to be higher. If these figures have stayed stagnant, or decreased, it may prove that holidaymakers are still going to Barbados, just at the times when it becomes more affordable, in a bid to save money.
As saving money is on most peoples mind at the moment , the case has to be bought forward for purchasing on one of our developments in Barbados.
Both Weston and Ixora Resort are both located in St James on the West Coast of Barbados. Anyone that has visited the island will know that St James is truly the most luxurious and arguably beautiful part of the island. Property prices in this area of Barbados are traditionally sky high! However “A keenly negotiated land purchase price, innovative construction methods and very well managed build costs are the key elements to this development. The developer is renowned for delivering high quality apartments in premium locations at exceptional value. Their choice not to embark on expensive marketing campaigns and to avoid costly gimmicks often associated with overseas property sale has kept the project lean and helped to deliver high value.”
It seems there are two ways this latest news can be interpreted:
1. People are looking for cheaper alternatives to their yearly holiday in Barbados, which is exactly what Weston and Ixora can provide. We have worked out that even with low room rates and occupancy rates compared to other developments, our purchasers will still have yields in excess of 10%pa
2. Tourism in Barbados is increasing, which is great news for the whole of Barbados, including both of our developments where, even on pessimistic figures by today’s standards you will receive rental yields of 10%
If you would like some further information on any of our property investment opportunities, please contact us.
New world heritage site – Barbados
As news surfaces of Bridgetown being named a world heritage site by UNESCO. What does this mean for Property owners in the country and future investors in Barbados Property?
There are many factors which affect property prices in the Caribbean and Barbados in particular. Barbados has a more established economy than many of its Caribbean counterparts, this can be attributed to its history of food production and the fact that many people don’t just come to Barbados for a holiday, they buy property there and many decide to settle upon retirement. The country can therefore be less reliant on tourism; however it is still heavily reliant on tourism which is as always, strong.
The World Heritage news is a good sign for the island and should affect property prices positively. Not only this, but the increased tourism to the island should lead to better occupancy rates for anyone renting their property, which we are particularly happy about. Our property on the West Coast of Barbados, was purchased at a fraction of the price of others in a similar location and for precisely that reason we are confident that rentals achieved by the professional hotel operator will not only pay our mortgage, but provide us with a healthy net income every year.
We have already received projections from various hotel operators on what room rates they believe they could achieve. We took the room rates per night and multiplied it by various occupancy rates and the results were quite frankly, astonishing. At just a 38% occupancy Annual Rental Revenues after management costs were £12-£30k! After mortgage repayments on a 55% LTV mortgage, income would be £8k-£25k, dependent on apartment size. Another point to take into account is the maintenance fees applicable to various properties in Barbados, where fees can easily be US$12,000 per year for just a 1 bed apartment! Both Weston Resort and Ixora Resort will utilise an owner’s cooperative upon completion which will take charge of the maintenance, thus eliminating costly providers taking a large profit. For more information on maintenance figures please contact us.
Barbados is an established market with a stable political system, huge regular tourism fan base and is a great investment or lifestyle property purchase, even better when you purchase through us!
Availability across our 2 fantastic sites on the West Coast of Barbados is as follows:
Weston:
Block 3 apartment 2 – A raised ground floor 4 bed apartment right by the pool and one of the closest apartments to the beach. $432,000
Block 6 apartment 2 – A raised ground floor 1 bed apartment with sea views! This apartment is a large 1 bed with a partial sea view. $270,000
Block 7 apartment 6 – A first floor 2 bed apartment with full sea views. This apartment is an excellent opportunity for a couple or smaller family looking for excellent views of the Caribbean Sea. $340,000
Ixora:
Apt 3 & Apt 4 – Both of these apartments represent a great opportunity for someone looking for a “bolt hole” property in Holetown, Barbados – $215,000
*All prices in US$
Golf Property in Barbados
A = Weston Resort, B = Royal Westmoreland, C = Apes Hill, D = Sandy Lane
Property near to a golf course on the West coast of Barbados can be:
a) Far cheaper than you’d imagine,
b) A stones throw from the beach,
c) A great investment for years to come.
Weston Resort in St James Barbados is not only a great property investment but can provide an excellent getaway for the golfing enthusiast.
With 3 top class golf courses all within 6 kms of the properties, these will be a welcome sight for any holidaymaker looking for reasonably priced accommodation on the West Coast of Barbados, with easy links to the local golf course.
The three courses within close proximity to the properties are Royal Westmoreland (2 km), Apes Hill (6 km) and the Sandy Lane golf course (5 km). There are many more on the island though, for those willing to travel slightly further.
This is great news for us, for the simple reason that we have purchased on Weston Resort ourselves and are looking forward to playing once we get out there! Below I have highlighted a few of the reasons that led to us purchasing on the Weston Resort in St James, Barbados:
- A fantastic location just 100m from the beachfront at Alleynes Bay,
- The developers have achieved a very successful pre sale, leaving the development financially secure,
- Prices that are far below anything comparable on this coast,
- Attractive maintenance fees, far lower than any other developments on island,
- An offer from a top hotel operator in Barbados to manage rentals,
- Attractive payment plans that can be designed to suit the individual.
At present there are just 3 apartments remaining on the development all of which represent a great buy for investment and lifestyle purposes.
- Block 3 apartment 2 – A *raised ground floor 4 bed apartment right by the pool and one of the closest apartments to the beach. $432,000
- Block 6 apartment 2 – A *raised ground floor 1 bed apartment with sea views! This apartment is a large 1 bed with a partial sea view. $270,000
- Block 7 apartment 6 – A first floor 2 bed apartment with full sea views. This apartment is an excellent opportunity for a couple or smaller family looking for excellent views of the Caribbean. $340,000
There is another reason I believe these apartments are a great purchase at the moment and it lies on the investment side.
As I see it, I believe the demographic for holidaymakers in Barbados may begin to see a change soon, with prime beachfront land on the west coast all but developed, I believe large price rises could be on the horizon in areas just in land. I also believe that the rental market may begin to look towards the self contained apartments in search for a lower cost holiday that gives more freedom to travel when on the island.
Completion is set for February 2012 and construction is progressing well see here. With 10%+ yields available at just a 38% occupancy rate and purchasing prices as far as 40% below nearby comparables I am personally excited for the future of this development.
Please click the link for more information on our excellent West Coast Barbados Properties
Barbados Property – Weston Resort update
Weston Resort, a development of 45 apartments on the west coast of Barbados, at prices far below anything seen in this location in recent years, is still progressing well and the exterior shell of the building is coming up very quickly.
After a small set back due to an unforeseeable amount of rain in the past few months, Weston is still taking shape quickly. We have been constantly updating our construction progress page with more and more pictures of the site as it begins to take shape and form one of the best investment opportunities in Barbados we have ever seen.
Weston offers investors the chance to purchase on the West Coast of Barbados at prices which are completely unheard of in this location. The development was first marketed at the beginning of 2010 and since then 95% of apartments have been sold, couple this with the fact that clients have exchanged contracts on their apartments and the build security is phenomenal. Apartments have sold so quickly on this development for a variety of reasons, mainly:
- An excellent location,
- Prices far below any local comparables,
- Desirable payment plans,
- A UK based developer with a long track record,
- No restrictions on usage for owners,
- Low maintenance fees, through the use of an owners’ cooperative,
- Strong rental returns, with an offer from an excellent hotel operator
It has been a struggle for a long time to find something on the West coast of Barbados, which will not only provide the Capital Growth that has come to be expected in such a desired location, but with this, a return that could pay the mortgage on a leveraged property and hopefully provide a return on top as well. When you can leverage your property safe in the knowledge repayments will be met with no money directly from your own pocket each month, you’re on to a winner. This also opens the investment opportunity up to a wider audience, leading on to a better price and further capital growth realised on resale as the deposit needed to buy the property and have a long secure income is reduced. We are sure that even when leveraged to the maximum LTV mortgage for Foreign nationals (70%LTV) these properties will show a strong net yield!
For more details on Weston Resort, please either use the “request information” tab on the web page or give us a call (freephone) on 0800 043 69 56
Build Progressing on Weston Resort Barbados
As many of you will know, Weston in Barbados has been our most successful development to date. After being recommended this development by a client of ours we have successfully transformed this developer’s sales focus to investment as well as holiday home buyers.
At first glance, Weston seemed like a low priced development, one back from the sea front with sea views to many apartments, perfect for holiday makers but with no obvious investment characteristics.
However, after digging further we realised that it’s low prices and fantastic position mean’t room and occupancy rates could be set at a premium and even on a 20 week occupancy would provide yields a lot higher than many other competitors.
Fast forward 6 months and we are now due to launch our 3rd development in Barbados, both Ixora and Weston having sold out in record time.
Weston is due to complete in November/December 2011 and build is progressing nicely.
Above is a picture of the front of phase 2, about where the swimming pool will be, coming along nicely…
Back corner of phase 1 ground floor with sea views possible, 1st and 2nd floor views should be fantastic!
Back corner of phase 2 with the sea viewable, a lot of the apartments in phase 2 will have sea views thanks to the height increase between phase 1 and 2.
This will be the view available from 2ft below where apartment 7-6 will be on phase 2.
As construction progresses we will bring you pictures from the 1st and 2nd floor showing even better views. The sea is just 200 metres from the entrance to Weston meaning the beach is only 5 minutes away.
There are still 3 apartments remaining for sale:
1 bed sea view apartment – £166,050*.
2 bed sea view apartment - £209,100*.
4 bed apartment – £265,680*.
* Subject to exchange rates.
If you want further details please contact us on info@freshinvest.co.uk or call us freephone on 0800 043 69 56.
Barbados property investors will see the benefit
As news keeps flooding in regarding the increase of flights to Barbados we thought we should share our opinion on how we feel it will be a positive impact for Barbados property investors… that includes us!
Barbados remains a strong location for investment at the moment and with news that British Airways are putting on even more flights to cope with demand, we feel strongly that now is as good a time as any to invest, particularly in one of our excellent developments on the famed West Coast.
Unlike many overseas property investment destinations, Barbados’ property prices are not solely determined by a commercial factor, in occupancy rates and tourist arrivals, don’t get me wrong, it has an effect, but is not the only factor to take into account… What I mean by this is, many people purchasing in Barbados are not just doing it for a rental yield and Capital Growth, they purchase because 1. It has a stable economy and 2. It is somewhere they genuinely want to live in the future. Many of the purchaser’s on Weston Resort and Ixora Resort in Barbados invested for exactly that reason; they want to retire in Barbados in the future. Because of all of this, property prices in Barbados are stable i.e. a small drop off in tourist arrivals will not saturate the market with underperforming properties. However an increase in tourist arrivals and occupancy rates will still benefit owners on our developments handsomely.
Weston and Ixora Resort offer investors the chance to purchase in Barbados at an attractive price, with brilliant payment plans and most importantly in an excellent location. The most important factor with regards to Weston and Ixora Resort is the fact that the property prices are kept low enough to enable investors to take a mortgage if necessary and have that mortgage paid by rental income, with a net profit as well! Actually, through research of rental prices on the west coast of Barbados we envisage that a 55% LTV mortgage on these properties could be paid with just 6 weeks rental occupancy! Couple all of this with the fact that, the developer has an offer from a top hotel operator and you have a very strong property investment indeed.
For more details on any of our property investments in Barbados please contact us.
No snow for me next year! – Barbados Property
As I sat at home yesterday unable to get to the office, I could not help but let my mind drift to warmer climates, particularly that of Barbados, where my siblings and I have recently purchased our latest overseas property investment
Now, Weston Resort is not just a great place for us to holiday but we have done some conservative figures for rental returns and the results are absolutely staggering!
Barbados is a great country for investment, but it is imperative that you find the right development in the right location! Weston Resort is a breath of fresh air on the normally, very expensive west coast of the island. As many reading this will know, there are two things you really want to achieve with a property investment and they are: Yield and Capital Growth.
Capital Growth has, for a long time not been a hard thing to achieve in Barbados, It has always remained popular with sun seekers and particularly English sun seekers; however, yield is a different matter. Where prices in Barbados have traditionally been high it is hard to achieve a rental income that will. 1. Service the mortgage repayments and 2. Provide you with an income on top.
This is where Weston separates itself from other developments in Barbados. Because of prudent cost management, the developer’s long background in construction and their knowledge of planning systems, they are able to offer apartments in their development at around 40% below the market value of similar properties in the local area. This alone gives you the upper hand when it comes to renting your apartment out as you will receive a larger return in comparison to your purchase price.
Because of the low purchase price, we are able to take just a small mortgage, which means that repayments are also low. On just a 38% rental occupancy and room rates that undercut the competition we have worked out that we should receive a rental yield of over 10% and a net return after mortgage repayments of over £10,000!
Rather than battling the snow next year, come and join us on the beach at the brilliant Weston, Barbados Property Investment.
The developer is currently working on another Property Investment in Holetown click the link for more details.
The West Coast of Barbados. So good I purchased there myself!
One of the benefits of being the director of a property investment company is that you generally get first dibs on the property opportunities you source!
For years this has helped some of us acquire good sized property portfolios. We generally need them as not many of us have pensions!
Now over the last few years the property investment market has got increasingly hard to operate in, there simply are not the funds that there were a few years ago. This means that we all have to be a lot smarter about where we invest, we can’t just take a chance!
Well as of yesterday I am the proud owner of apartment 6 block 4 at the Weston Resort, Barbados.
I thought I would write a brief summary on why I decided to invest here as opposed to any of the other investment opportunities we are offered on a daily basis.
1. The Location
In a market where yield really is king, I make sure I concentrate on areas that are already established. Areas that I know people will holiday at no matter how dire the financial market is. For me the West Coast of Barbados has this.
The types of people that regularly holiday here are not bothered that their mortgage rate just crept up a few percent. Most probably don’t have mortgages!
2. The Developer
Another important point for me is the quality and financial stability of the developer.
I have met the directors of Candelisa on numerous occasions, in London and at their fantastic glass fronted offices in Leeds.
I know that they have the facility to not only build this out but also deliver it on time.
3. Its Rental Return
I have holidayed in Barbados before so have an idea of the amount you pay to rent on the West Coast.
Before offering Weston to yourselves, we took some time to delve into rental values in the area, as well as reading through the information provided by the developer. We found that with just 38% occupancy a return after mortgage payments of over £10,000 per annum was achievable. This amount of return in such a quality area is almost unheard of.
In the UK you would not expect the same amount of rental return in Kensington as you would in Manchester, at Weston we have achieved exactly that!
4. Its Re-Sale Value
The final straw came when I conducted further comparable research on competitors resorts in the area. Quite simply, nothing came close.
The fact that I could purchase a 2 bedroom apartment within walking distance of Royal Westmoreland golf course at just £200,000 sealed it for me. Especially when I realised they were selling 2 beds at Royal Westmoreland at over £1m! The closest comparable I could find was over £50,000 more expensive!
5. My Long Term Goal
I don’t actually plan to visit Barbados in the near future, I will put my apartment in their management scheme and plough the profit back into the mortgage. I have worked out that I should be able to clear the mortgage in just over 10 years taking into account renting for just 20 weeks out of 52. If I manage to rent for 40 weeks out of 52 this is reduced to just under 4 years!
Why have I mentioned this?
I know if I was looking at purchasing abroad, the fact the guy offering me the property was in the same boat would definitely give me some comfort.
As of today there are just 11 apartments left at Weston. (One just came back to market)
4 X 2 bed apartments (1 with sea views) Invest from just £62,000.
4 x 3 bed apartments (3 with sea views) Invest from just £78,000.
3 x 4 bed apartments (1 with sea views) Invest from just £92,000.
Remember these are selling quickly, the sooner you come back to me the sooner we can secure your chosen apartment.
Barbados property news
British Airways last week announced that, as of summer 2011 they will be putting on more flights to Barbados.
Barbados, as a holiday destination has traditionally been a favourite for the British public. These extra flights from BA can only mean one thing. The demand from the UK to holiday in Barbados is increasing and hasn’t wavered throughout the recession.
Barbados is an inspiring holiday destination. The East coast offers rugged shores fronting the Atlantic Ocean, where keen surfers can enjoy themselves on some very highly regarded breaks. As a contrast to this however the West Coast which fronts the Caribbean Sea is regarded as one of the most tranquil and beautiful coastlines in this part of the world and as such, prices are at a premium and have been steadily rising year on year for a very long time.
The west coast is our primary area of interest today. We have carefully sourced an investment opportunity on this prestigious coastline in the Caribbean and we are ecstatic about it.
The opportunity is to purchase an off-plan apartment on a site which is due for build completion in November 2011. The apartment, on completion, will be run by a top class hotel operator and on this basis, investors can expect rental returns of 10%+ on just a 38% occupancy. The apartments start from prices of just £183,000. These prices are unheard of in this location and through lots of market research we feel they represent a discount of around 40% from other local comparables. Not only this, but we have devised some very attractive payment plans which means you can purchase on this resort for as little as £83,250!
Another unique and exciting option with this investment opportunity is that when clients purchase a unit, they are given a login to a website which will allow them to customize the design of their apartment throughout the build period; this can be from the colour schemes right through to the inner walls of the property.
With this latest news and an increasing amount of demand for Barbados holidays, rental returns on this development could be at a level of around 20%. When we put together our expected returns for investors on this resort we worked to just a 38% occupancy achieved by the hotel operator, the average for Barbados is 80% and with this latest news we think this will be easily within reach for this resort.
We have been operating in the overseas property market for a long time and feel that these are an excellent opportunity to own property on this very sought after coast, for a fraction of the cost and with the added benefit of seeing a great rental return when you’re not using the apartment.
Please click here for more information on our Barbados property investment.
Barbados Bound – Why Celebrities flock here year on year!
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.
My top 5 places to invest for 2010 – Part 1
The property market in many countries has taken a real hit over the last few years, however this sometimes is not a bad thing.
If your looking at property investment as an alternative to stocks and shares then the time may be ripe to invest.
Below are my top 5 places to invest.
1. Cape Verde:
When looking for an overseas investment opportunity the first thing you should always ask yourself is “would i go there”. If the answer is no, the chances are your not in the minority.
The next question is, if you would go there, why?
For me Cape Verde offers a unique proposition, 360 days worth of sun that you can access via a 5 hour flight.
Combine these 2 points and it narrows the field down considerably; quite honestly the competitors i’ve either been to or i’d never want to.
The reason for this is as follows, not only does Cape Verde have a Caribbean climate but also a laid back lifestyle unlike many of its competitors.
The Prices are still relatively low compared to the likes of Tenerife and some Caribbean islands, this is mainly due to the infancy of the islands that make up Cape Verde.
This will not be the case for long, already some major 5 star hotel operators are building on the islands of Sal and Boavista, this will increase tourism and put more pressure on Airline operators to increase their flights.
One such 5* hotel operator is Sol Melia – the worlds largest hotel resort operator, they are taking over the running of our Dunas Beach Resort investment opportunity.
Conclusion:
Risk = Medium
Returns = High
Yields = High
Minimum cost to invest = £33,640.
2. Barbados:
If you have deeper pockets abd want slightly less risk then Barbados may be for you, offering the true 5* lifestyle with prices to boot.
The reason i think this is a good investment is that even though prices are high, you can still achieve yields in excess of 10%, as witnessed in our opportunity on the West Coast Barbados.
Yields this good along with the knowledge that you are investing in the holiday makers favourite Caribbean island means that occupancy rates should remain strong. Most other Caribbean islands are so far behind that no threat to this crown seems anywhere near appearing.
Demand is Barbados is so high it has become the place for celebrities to have second homes, as proved by a host of premier league footballers, golfers and tv personalities.
Conclusion:
Risk = Low
Returns = Medium
Yields = High
Minimum cost to invest = £64,990.
3. Spain – Barcelona:
I love Barcelona, its my favourite city by a long ways.
Sea, Sun, Football, Great Beaches, Great Nightlife andf now a grand prix! I don’t know another city that offers so much.
I also think its a bit of a hidden gem, 1 bed apartments on the outskirts of Barcelona can be picked up for around €160,000 and if you can rent them for 40 weeks of the year you should be on for close to a 8% yield. Not bad for one of the most cosmopolitan cities in the world.
Demand will always be strong because of the sheer size and climate of Barca.
Combine this with the fact that house prices in Barcelona have hardly been effected by the global financial crisis and you know that values will remain robust in all but the most dire of circumstances.
Conclusion:
Risk = Low
Returns = Medium
Yields = Medium
Minimum cost to invest = £27,111
