Barbados: top of the props?
Properties in Barbados, where it is widely claimed that values have never fallen, is the most popular destination with property investors and holidaymakers buying homes and visiting the Caribbean, according to fresh research...
The data comes from the number of Caribbean holiday homes currently advertised on Holidaylettings.co.uk, which has significantly more properties in Barbados compared to the other Caribbean islands, as a consequence of the island's popularity.
The majority of holiday rental homes currently available in the Caribbean, including Barbados, are being supplied primarily by long term owners, rather than new purchasers, suggesting that fewer investors - particularly those in the buy-to-let sector - are buying property in the Caribbean at this moment in time. This is unsurprising given the recent global economic turmoil.
"Overall, demand has fallen slightly as a result of the recession and fewer long haul breaks are generally being taken", says Kate Stinchcombe of Holidaylettings.co.uk.
From a holidaymaker perspective in these tougher economic times, Stinchcombe reports that smaller villas - three and four bedrooms - are proving more cost effective and therefore most popular. Locations where this is particularly apparent include Bottom Bay in St Philip Parish, Barbados and Jolly Harbour in Antigua.
Stinchcombe adds: "Bottom Bay in St Philip Parish is the most popular location, but it is also relatively reasonably priced with three bedroom homes available during peak periods for £650p/wk.
"Perhaps the greatest obstacle to holidaymakers trying to reach the Caribbean is Air Passenger Duty increases and transatlantic flight costs - especially when taking the family away."
Travelling to Barbados
British Airways, Virgin Atlantic and Caribbean Airlines all fly non-stop from the UK to Barbados ' one airport - the Sir Grantley Adams International Airport.
• British Airways from Gatwick - up to twice a day year round
• Virgin Atlantic from Gatwick - daily flights year round. There are also flights from Manchester on a Sunday only
• Caribbean Airlines from Gatwick - five times weekly flights
· Charters also operate from Gatwick and Manchester with Thomson.co.uk
Flight times to these airports are under nine hours.
Prices are from around £569 return in economy including all taxes. See www.travelsupermarket.com.
Source: www.homesoverseas.co.uk/news