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Real Estate Sales, Rentals and associated services in Barbados
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www.westcoastvillas.com
West Coast Villas - Page 19
BARBADOS
www.barbadospropertynews.com • December - January 2016 • Issue 102
Endorsed by theBarbados Estate Agents andValuers Association Inc.
The Sandbox Tree Spa at Port Ferdinand - Page 17
Claridges - Page 25
Port St. Charles - Page 23
PROPERTYNEWS
FREE& ONLINE
Welcome to the final edition of Barbados Property News for 2015. It hardlyseems a year since last Christmas, but during that time we have passed our100th edition and continue to bring you a quality niche publication thatdeals exclusively with property sales and rentals, property products andproperty services. We enter 2016 with controlled optimism. Our economy still faces some
major challenges, but all the signs indicate a better tourism season than thepast few years. Some real estate agents have also confirmed a better year in2015, and in this edition we welcome the re-launch of Battaleys Mews, close to MullinsBeach on the popular West Coast.We hope the annual Christmas gift feature
stimulates your shopping buds as the rangeand quality of goods in Barbados continues to improve and we stronglyrecommend visiting these stores as they offer much more on site. Finally, a huge ‘thank you’ to all our advertisers, supporters and readersfor continuing to make Barbados Property News such a strong voice inthe local property market. We distribute the hard copy to over 320outlets on island, eblast to a database of over 6000, and our electroniccopy on www.barbadospropertynews.com is enjoyed all over the world.We wish you a happy and peaceful Christmas and best wishes in theNew Year.
Editor’s CommentsPublisher – 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: Port Ferdinand
Pamela Hiles, Editor
If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692
17/11/2015 13:45
RK Complex, The Pine, St.Michael, BarbadosTel: 246.427.1627/9 * Fax: 246.427.1642
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APES HILL LOT J49 - Apes Hill, St. JamesOverlooking the 6th green on the fabulous Apes Hill course, this lot is in the perfect location for building your own customeco-villa. With its stunning unobstructed views of the west coast, island living truly can be achieved.
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APES HILL ECO-VILLA - 28 Holders Meadow, Apes Hill, St. JamesThis revolutionary 4 bedroom home has not sacrificed luxury in the pursuit of sustainability. A combination of luxury, qualityand sustainablility that sets the standard for eco-luxury in Barbados.
Lot Size: 25,000 sq. ft. • Asking Price: USD$3.3 million
MALTA - Cattlewash, St. JosephA 3 bedroom, beachfront villa located on Cattlewash Beach. Property also has an additional 1 bedroom cottage. This truly isthe perfect spot to experience the cooling Atlantic tradewinds and relaxing pace of life found on the east coast of Barbados.
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SECRET SPOTFor those seeking privacy and nature, this plot of land o�ers lagoon and ocean views with miles of beautiful, pristinebeach close by to stroll on. The perfect place to build an o� grid eco-home and enjoy outdoor activities.
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ChristmasMarketplace
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DB Home1. A large assortment of shellsavailable from DB Home Sheratonand Millhouse. Baroque Pearls andshells available from AlwaysSummer- Limegrove Lifestyle Centre2. These mini porcelain diffusers willcreate a lovely fragrance in anyroom in your home3. Middle Kingdom wares areinspired by a long and distinguishedhistory of design and craftsmanshipin Chinese Porcelain. Their exquisitecraftsmanship make the perfectholiday gift for the discerning eye.
Standard1. Covered shell jar $692. Decorative Bowls $1193. Metal Lanterns $49
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Dwellings1. Joy Jar Candle $89.952. Waffle Maker $149.953. Forever Family Frame $99.95
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Ashley1. Key Wall Clock $119.952. Metal Tray 5 Candle Holder $119.953. Bicycle Wine Rack $99.95
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ChristmasMarketplace
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Walker’s World1. Mirrored Chest $1599.002. Georgian Beaded Lamp $389.953. Hammered Enamel Bowl set $489.95
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Natz1. Blue Swirl Glass Bowl $230.902. Mahogany Finish & Mother ofPearl Chest $2,428.553. Multi Blue Floral Indoor –Outdoor 5 x 8’ Rug $828.60
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Gajah1. Decorative Glittered Xmas Tree ConesSml $102.00 Lrg $179.002. White Phalaneopsis Orchid in ClamShell $768.003. Driftwood Candle Holder $564.00
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Canewood St. Michael (246) 424-7160 Mon-Fri 9-6 Saturday 9-5 Sunday 11-4www.gajahhome.com
©2015 Wolseley. All Rights Reserved.
#6 Canewood Industrial EstateSt. Michael246-627-0580
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Tel: (246) [email protected]
SEEK TOTALLY INDEPENDENT ADVICE
THE BEST MORTGAGE rates and service in Barbados.
At the time of writing a lot hasbeen happening in the world.Speculation is rife that stockmarkets are going to crash, mediacoverage of the hostile bids forBanks shares has been paranoiac,the Barbados economy and itsgovernance continues to beridiculed by international
agencies, a local investment conference added more doomand gloom for investors, local crime is increasing no matterwhat the police say, a high-powered CARICOM Committeecalled for the immediate disbandment of the West IndiesCricket Board, and amidst everything, callous and cowardlyISIS terrorists blew Paris to pieces killing 130 innocent peopleand injuring hundreds of others. Perhaps we should bemotivated by the prospect of a better tourist season and thefun and revelry associated with the Christmas break, butsomehow everything pales into insignificance if we can’tcontrol terrorism and crime.It is difficult to put a positive spin on a finance article thesedays and I’m glad I wasn’t part of the recent InvestmentConference because I’m not sure how it could be done in thecurrent environment. It’s easy to make money when theeconomy is buoyant and overseas markets are thriving, butalmost impossible these days. Understandably some peopleleft this conference quite depressed, as the assessmentspresented were so pessimistic. At the end of the day Barbados is a small player in worldfinance and the number of significant investors even smaller inreal terms. The accumulation of wealth is largely in the handsof a minority of people within our midst and good luck to themfor reaching a level of consummate security, but most peoplewill view wealth accumulation as a myth. And for many ofthem it will always to be a myth as their confidence in financialintegrity has been destroyed by big banks, finance houses andinvestment companies after the 2008 global crash. After all,
why save all your life and invest in what you were told weresolid long-term investments and pensions, only to find thefigures were fabricated and your hard-earned savings orlegacies were gone? How can anyone convince the nextgeneration they should be motivated by wealth accumulation? After a lifetime in banking and investment advisory services Inow understand the merit in living life and enjoying it, ratherthan place your savings and investments in the hands ofothers. I also understand why more and more young peopleare empowering themselves and shunning traditional forms ofinvestment like pensions, annuities, bonds, managed funds,endowments etc. and turning to self-management of theiraffairs. After all, nobody knows their finances and aspirationsbetter than themselves, and if some advice is needed theInternet is bulging at the seams with positive and negativesuggestions. This approach has been successful in the UKwhere ordinary people have built up property portfolios withBuy-to-Let schemes, aided and abetted by lending institutions.I don’t think they are entrepreneurs, but simply realists, whohave looked at how traditional companies have invested fundsand felt they could do it better?Much depends on how you handle risk and your personaloutlook in life. If we are prepared to speculate then the ‘higherthe risk the higher the return’ is a well-worn cliché in financespeak, and if you are not a risk-taker then a fixed interest ratefrom a reputable finance house, bank or government bondmight be a more comfortable option. If you like a nice car andenjoy overseas holidays there’s nothing wrong with that either,because many philosophers feel you should live in the presentand not get too preoccupied by either the past or the future, ifyou want a better frame of mind and quality of life.One way to accumulate wealth and get the best of bothworlds is to buy your own home. Everyone has to livesomewhere, so the options are straightforward. You can buy,rent or live at home. Setting aside the latter as short-term, thedebate on rent versus mortgage repayment is a no-brainerwhen it comes to wealth accumulation and it doesn’t matter
Is Wealth Accumulation a Myth?Mortgage Broker Clarence Hiles looks at the uncertain world ofinvestment and identifies the most straightforward way to accumulatewealth within the reach of everyone…
Finance
whether you are rich or poor as the principles are common atboth ends of the scale. It all boils down to what you can affordto pay and when you compare the numbers you can evaluatewhat you get for your dollar. When you rent you can pick where you want to live and if youdon’t like it you can move on. Your landlord should do therepairs and renovations, but very few do, and you still have topay utilities. In reality you get more freedom to come and goduring your life. In comparison, you can buy your own home,improve it, and do anything you want with it. You may also useyour equity to borrow against it, and when you have paid it off,it is yours. At this time you have accumulated wealth andenjoyed a similar lifestyle as renting, if the monthly payment isthe same. And, at any stage you can sell the house, pocketyour profit, and move upmarket or switch to renting!If you pay rent of $1,000 a month it equates to a mortgage ofapproximately $180,000 over 30 years at 5.5% so if you securea 100% loan your price range is $180,000 plus any savings youmay have. That means you will pay $360,000 over 30 years,but you now own property, which should be valued muchhigher than what you paid for. Also your repayments arefinished. In this comparison the renter will also pay $360,000, buthave nothing after 30 years and will still be paying rent for therest of his/her life. The challenge might be finding a propertyin this price range, but you have to cut your suit according tothe cloth. However, the same principle applies at every level ofoutlay. Age is not a factor although the younger you get on theproperty ladder, the higher the rewards. For example a couple paying $2,500 in monthly rent will layout a whopping $1,170,000 over 30 years and still havenothing to show. If they had taken out a mortgage using thesame terms as above they could buy a property at $450,000,own it after 30 years, and have nothing more to pay for the restof their life. It doesn’t matter whether property values go up ordown over the course of those 30 years as this is your home,and you are always going to live in it. The risk of financial lossis negligible set against a rental, which is a lost leader fromDay 1. Perhaps wealth accumulation is not a myth after all? If you want to find out more about buying a property emailme at [email protected] or telephone 2309215.In the meantime Merry Christmas and a Happy New Year toall our readers.
Finance
Battaleys Mews
Face the mortgage monster... or meet an RBC representative.
Main Branch467-4000
Chelston Park431-6600
Hastings431-6650
University Drive417-1700
Sunset Crest419-8510
Six Roads416-8544
Private Banking Center431-6500
Call or visit any RBC Royal Bank branchor go online at rbc.com/caribbean
™
Traditional mortgage process
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Christmas Cocktails at Natz! Real Estate News
Annelise Inniss, Natalie Manning, Justin Inniss (Flow)From left to right: Vashti Ince, Senior Manager, Credit Risk;
Rodney Mayers; Lisel & Mark Owen.
Jan and Evans Husbandsfrom left to right:Kelly Ann Hurley, Michelle Barber (Planned Maintenance), Ann
Hunte (Natz’ Home Furnishings), Nicola Birkett (Realtors)
Natalie Manning and her dad Bizzy WilliamsBuffy Hall, Susie Ray (Realtors), Vicki Cozier (far right) and friend
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BEAVA NewsReal Estate News
Message from theBEAVA president 2015
As the year closes andanother approaches, it gives us amoment to reflect to the progress ofBeava during the year.
The real estate marketcontinued to have anotherchallenging year due to theeconomic climate. BEAVA pushedahead with focus on its members,
having several educational seminars, meeting with variousgroups, Valuers & Brokers and hosting a real estate Home EXPO.I would like to thank CIBC FirstCaribbean for their support of all
our educational seminars as well as our BEAVA EXPO. These
seminars have resulted in a better understanding of the Bank’sprograms and provided an easy learning platform for members.The BEAVA members showed their full support again at the RealEstate Home EXPO and I thank the organizing committee for ajob well done.I look forward to working with all members next year as we
continue to chart our way forward. Our focus will be on increasingmembership to encompass all real estate agents and valuers onthe island. This is a very important step in preparation oflegislation. I want to thank the board members, members of the sub-
committees and our administrative team, for their hard work andcontinued support. “On behalf of the BEAVA family, we wish all our customers,
clients and business partners all the very best for the New Year.”
Vice- President George Ramsayat the Valuers Meeting Booth BEAVA Home EXPO 2015
President Suzanne Davis
Battaleys Mews is back Real Estate News
Now you can rent or buy at one of the mostprestigious developments on the revistalised‘platinum’ West Coast
Following a comprehensive renovation under new ownership,Battaleys Mews unveils 24 restored, three-bedroom propertieswith the highest quality interiorsWith a limited number of properties available to buy from
US$595,000, the development represents incredible value forsuch a prime location on Barbados’ famed west coast.October saw Barbados’ infamous Platinum Coast welcome a
reinvigorated face to its legendary property scene with theunveiling of the new look Battaleys Mews. With the three-bedroom properties priced from US$595,000, Battaleys Mewsoffers a real niche in the island’s property market – combiningspacious, high specification units in such a prestigious locationthat until now has only been accessible by the glitterati crowd. Located in Mullins on the island’s west coast, privately-gated
Battaleys Mews was originally completed in December 2006 butnewly acquired in 2015 by respected UK property investordeveloper, Prestbury owned by Nick Leslau. Battaleys Mews has since undergone an extensive, nine-month
renovation project; the result of which sees 24 superblyrevamped three-bedroom/two-bathroom properties thatindividually span over 2,350 square feet, each boasting extremelyhigh specification and European-style interiors that epitomiseopen-plan living. Highlight features include contemporarykitchens complete with Smeg and Bosch appliances, Duravitfitted bathrooms, a private terraced garden with plunge pool andoutdoor seating, plus high speed wireless internet throughout. Each property further benefits from access to the brand new
social area comprising large swimming pool, tennis court,clubhouse with bar, children’s play area, fitness centre andtropical gardens for those seeking a spot of shade. The entiredevelopment is highly secure with 24-hour security, and everyproperty comes complete with two car parking spaces and ample
storage area too, making it ideal for young families and couplesalike. Properties at Battaleys Mews are perfect for private owners
who can relax safe in the knowledge that their property is secureand that grounds are being maintained when not in residence.Equally investors can look forward to the best possible returnfrom Barbados’ mature and well-reported rental market, with anumber of properties being available for rental throughSotherby’s West Coast Villas. Prices at Battaleys Mews start from $595,000USD, with
additional service charges and land tax payable, but easilyrecovered by those choosing to rent out their property over thepeak Christmas and New Year period. Buyers will further benefitfrom zero capital gains tax and the option of purchasing afurniture pack including all beds, dining table, outside loungeseating, sofa and coffee table. With shipping costs to Barbadosbeing notoriously high, this furniture pack offers great value andeliminates any logistical headaches. For holiday guests choosing to stay at Battaleys Mews, every
detail has been considered to guarantee a hassle-free break. Onarrival, guests renting a villa will be greeted with a welcomehamper including all the daily essentials such as bread, milk,coffee plus a few local treats. All linen, bathroom and beachtowels are provided and for the little ones, travel cots and highchairs can also be arranged on request. A full concierge serviceis on offer to all guests who might wish to arrange any extrasduring their stay such as additional house-keeping or a morecomplex, customised trip itinerary taking in the island’s variousactivities. www.battaleysmews.com
For sales enquiries, please contact the selling agent,Chestertons, on: +1 (246) 432 2470For rentals, Battaleys Mews offers a one-week rental stay fromUS$2,200 per villa on a self-catering basis, with full serviceavailable on request. Please contact, West Coast Villas on +1(246) 432 2470
59
Pictured from Chestertons are Alexandra Ortiz, Kieran Kelllyand Daryl Kelly. Second from right is Ben Wolford. Battaleys Mews
F O R M O R E I N F O R M A T I O N C A L L : 2 4 6 . 4 2 8 . 2 9 2 0 O R V I S I T O U R W E B S I T E : W W W . F I B E R P O L I N C . C O M
NEWTON PLANTATION YARD, CHRIST CHURCH, BB17033, BARBADOS
CALL: 246-428-2920 EMAIL: [email protected]
SurfacesRESIDENTIAL AND COMMERCIAL USE
D E C O R A N ®
• Land/Construction detached single storey homes• 1,200 sq ft three-bedroom design• Small community of 15 units in quiet cul-de-sac• Plot sizes approx 4,000-4,500 sq ft.• First Phase of 10 units completed and occupied• Located just off Enterprise Road a few minutes drive from Oistins• Up to 100% mortgage facilities available
FOR MORE [email protected] • Tel- 230 9215Or visit website- www.carters-grove.com
VISIT
OUR NEW
WEBSITE FOR
MORE DETAILS AND
A COPY OF OUR
ELECTRONIC BROCHURE
www.carters-grove.com
FINAL PHASE ONLYFIVE UNITS LEFTPRICES STARTINGAT BDS$425,000
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