One of the biggest questions we face recently, as a real estate firm is the effect of the two month lock down on the real estate market and how business and prices may change within this new normal. While no one can predict the future of Real Estate in Trinidad and Tobago given this lock down, we have seen unique patterns appear through our data.
We have all experienced a very interesting period of our existence over the last few months, where we were all required to take residence in our homes for our own protection. As the airlines canceled flights and borders began to close many visitors made a last-minute attempt to cancel their vacation plans to be safe in their own countries of residence. However, a few choose to ride out the lockdown period here with us in Barbados!
The Hotel School, Cornell SC Johnson College of Business held a webinar with US industry experts to discuss the current state of the hospitality industry and what the future might look like. While the North American and Caribbean Markets differ in their offerings and customer base, Lisanne our Leader of Advisory highlights 5 key takeaways which are also relevant to the Caribbean region.
When it comes to buying or selling a home, there are a few factors that one should always take into consideration as it relates to pricing. The buyer wants a great deal and the seller wants as much as they can get for their property. In the end, both should feel that they got a good and fair deal. To help you (whether you are the buyer or seller or both) make informed decisions and have a realistic approach to the potential current value of a home, we have highlighted some basic characteristics that affect the value of properties.
The COVID 19 global pandemic has had a profound impact on the business environment giving rise to unprecedented consequences. The Prime Minister announced a phased reopening of certain businesses from May 4, but we cannot yet determine when our economy will fully emerge from this crisis, particularly as Barbados still has a few active COVID-19 cases. To successfully navigate the “new normal” will require business leaders to consider a number of things.
During these challenging and uncertain “covidious” times landlord and tenant negotiations have been at the forefront of many conversations in both the commercial and residential contexts. The reality is at the core of this conversation and negotiation is that these relationships are controlled by landlord and tenant law but flexibility on the part of both landlords and tenants is key to achieving an optimal outcome. Having to wear both hats during this time as well as act as a mediator or middle man in some instances has provided a unique and informed perspective as it relates to the various ways these negotiations can proceed.
As the real estate industry is impacted by the current crisis, and with other sectors of the economy continuing to struggle, several people are starting to pay attention to sustainability, diversity, food security and products we can export. We can all point fingers at who is responsible and what should have been done in the past to boost agriculture, but ‘Hindsight is 20/20’. This simply means that it's easy to know the right thing to do after something has happened. This blog post is not to put blame on anyone; frankly, we should aim to move forward by developing proper plans and solutions.
Water is vital to everyday living and we are constantly advised to do our best not to pollute our water sources, and ensure we drink as much as we can. But did you also know that water can significantly impact where you can build? Did you know that Barbados has been classified by the UN as the 15th most water-scarce country in the World, or that the majority of water-scarce nations on the UN list are located in the Middle East and the Caribbean?