Homes for Sale in Barbados Have Whopping Price Tags

Homes for Sale in Barbados Have Whopping Price Tags

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We may like our homeland, but if we had the means, few of us would say “no thanks” to owning a vacation home abroad. Most of us don’t get tempted by just any home in just any country, so Point2Homes has looked for you at properties for sale in one of the most dreamed-of tourist destination in The Caribbean — the island of Barbados.

We were a little surprised to find that many Barbados homes are listed for median prices close to $2 million.

Point2Homes data shows that these are spread over more than half of the island. Just to make a quick comparison, in 2012 homes in the Hamptons, another preferred destination for Americans (New Yorkers in particular) looking for a second home, sold for median prices lower than $1 million.

What does “pricey” really mean in Barbados?

Barbados is made up of 11 parishes, almost half of which boast impressive home listing prices. This makes the island one of the most expensive real estate markets in the Caribbean. According to a recent New York Times article, Canadians are the second and Americans the third most important real estate investors in Barbados, while British top the list.

Houses are the most common (and expensive) types of property on the market, with a median asking price of $2,032,500 or $520/sqft, although the same article in the New York Times points out that after the financial crisis, home prices have seen a 15%-20% price cut.

Top 3 most expensive Barbados parishes (for houses):

Apart from being the most expensive, St. James also has the largest number of listings and is, along with St. Peter, part of the ”Platinum Coast,” a region in Barbados preferred by the wealthiest of investors.

Barbados chart 1

Have a look at these 10 top-of-the-list houses for sale in Barbados to see what we mean:

Top 3 most expensive parishes (for apartments):

Apartments for sale, although fewer in number, are not that much cheaper. They are listed, on average, for $$1,675,000 or $688/sqft, but in St. Peter and St. James parishes they can sell for much higher prices.

Barbados chart2

For top 10 most expensive apartments for sale in Barbados, prepare to be amazed below:

Point2Homes currently has almost 500 active listings in Barbados, 56 of which have asking prices between $5 million and $18.9 million.

The most expensive listing on the market is this 12-room, 12,000 sqft mansion on the Sandy Lane Estate, St. James. Just check out the pool:

Barbados pool

Sandy Lane Estate, St. James, Barbados

 

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