Luxury Home Sales Uptick in Barbados
Royal Westmoreland in Barbados has reported the best sales period in more than ten years, with $60 million of its villa sales coming largely from Brits. The sales upturn shows that the appetite for overseas property is returning and the enduring appeal of Barbados as a place to buy a second home.
Royal Westmoreland, located in the parish of St James on the coveted west coast of Barbados, is undergoing its most intensive construction period in its history with $30 million of new villas now being built and with another $30 million of homes in the next six to nine months.
Construction Director Ian Putley says, "I can honestly say this is the busiest period for me in 11 years at Royal Westmoreland. Everything we are building is for somebody who has purchased the property so we are not building anything speculative. We have seen a substantial turnaround from the previous five years."
Sales Director Kim Goddard says: "Most of the sales are to British buyers who are feeling more confident about the economy back home and in the product that is Barbados. They want a sure bet when it comes to making their lifestyle choice for a second home. This means built amenities, established vibrant community and lower risk on protecting resale values."
The estate which is itself up for sale currently, with a price tag of $75 million, has expanded onto new land purchased in 2006 which covers 250 hectares and has planning permission for another golf course and hotel. The new collection of 31 lots are on a high ridge with sweeping views over the golf course and the southern stretch of the west coast.
Famous residents of homes at Royal Westmoreland include cricketers Andrew Flintoff, Michael Vaughan, Ian Boatham, golfers Ian Woosman and Lee Westwood, boxer Joe Calzaaghe and footballers Wayne Rooney, Andy Cole, Rio Ferdinand and Stuart Pearce, amongst others.
The estate remains the only completed gated community in Barbados with a golf course and a beach club, and is a short drive inland from the 'Platinum Coast' with its beautiful white sandy beaches, chic restaurants and laid back beach bars.