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Terra Caribbean: 2018 In Review

Posted on Fri January 18, 2019 | By Terra Caribbean

 

Time

 

For 2019, the Terra team has renewed their vow to give continued expert guidance and knowledge to all clients in their real estate endeavors. This keen outlook to 2019 is all thanks to the momentum gathered in 2018.

Click "Reade More" to find out a few of our favourite 2018 moments!

Virgin Holidays Launches Departure Beach

Posted on Mon December 31, 2018 | By Laura Rotchell, Real Estate Agent

Exciting news for British travelers flying with Virgin Holidays to Barbados this winter season!

Virgin, one of the main British holiday- provider’s to the island has decided to pioneer a revolutionary idea. "Departure Beach" as coined by the group is essentially a super-cool Virgin Holidays' lounge but on the beach!

 

A More Appealing Barbados!

Posted on Thu December 27, 2018 | By Emma Hutson, Real Estate Agent

Barbados is looking more inviting than ever for 2019 and with great leadership, we are seeing positive results. 

We Wish You a Canine Christmas!

Posted on Fri December 21, 2018 | By Terra Caribbean

K9 Christmas 2018

Christmas isn’t Christmas without the K9 Friends Barbados Charity Auction! The charity, which is synonymous with the festive season, continues to benefit the island’s furry residents by epitomizing the spirit of the season as locals and visitors patronize in the spirit of giving!

Adams Castle Estate- Lots in a great area

Posted on Thu December 13, 2018 | By Terra Caribbean

Adams Castle Estate Development

When preparing for your future build, one key factor takes precedence - location. The Adam’s Castle Estate development near Sheraton Mall is certainly one to be considered if central accessibility is high on your priority list.

Great Commercial Office Rental Space in High Demand

Posted on Wed December 05, 2018 | By Laura Rotchell, Real Estate Agent

There is an abundance of choice for businesses looking to rent commercial space these days in Barbados. Although there is a lot of choice, when it comes down to it, clients seem to struggle with finding the perfect office without compromising too much on their ideal requirements.

A Real Estate Minute - Episode 3

Posted on Fri November 09, 2018 | By Terra Caribbean

In Episode 3 of ‘A Real Estate Minute’ our Real Estate Agent Andrea Chase answers her most frequently asked question “I’m ready to purchase a property. What’s my next step?” Join Andrea, a veteran in the Barbados real estate market with over a decade experience in commercial, residential and multi-million dollar development sales! Watch the video to learn more. Look out for more of these videos coming soon!

If you have any questions for our agents, simply let us know!

Introducing Latest Brochure - The Red List

Posted on Wed October 17, 2018 | By Terra Caribbean

We're excited to launch The Red List! This is our latest brochure that showcases key property listings, highlights some of the newest listings to hit the market and provides data on some of the most notable sales that have happened recently.

Food and Rum 2018!

Posted on Tue October 09, 2018 | By Terra Caribbean

This year, the Barbados Tourism Marketing Inc. will stage its prestigious Barbados Food & Rum Festival a month early on October 18 - 21 - a move which has been reportedly received with delight by many who have been unable to participate in the festival in previous years. In addition to the date change, another novelty of this year’s event is its month-long run - yes, the whole month of October will be a celebration of food, with several pop-up events, food truck crawls, restaurant specials on the Dine Around programme as well as many other food festivities.

A Real Estate Minute - Episode 2

Posted on Fri August 31, 2018 | By Terra Caribbean

 

Join our Real Estate Agent Lisa Coyle in Episode 2 of  ‘A Real Estate Minute’ - as she answers one of the most frequently asked questions from clients: ‘How's the Market?’ Gain more insight on why this is a popular FAQ and get a few tips on property investment. Watch the video to learn more!

Look out for more of these videos coming soon! If you have any questions for our agents, simply let us know!

A Real Estate Minute - Episode 1

Posted on Thu August 16, 2018 | By Terra Caribbean

To kick off our new series ‘A Real Estate Minute’ - our agent Susan Armfield answers one of the most asked questions she gets from clients: ‘How do I know how much to offer?’ Watch the video for more insight!

Look out for more of these videos coming soon! If you have any questions for our agents, simply let us know!

Price in the New Market

Posted on Thu April 26, 2018 | By Hayden Hutton

How much longer can we continue to be romantic about the glory days of 2008?  Property values have changed substantially since then, however property ‘prices’ have not necessarily followed suit. 

Terra Caribbean Releases 11th Edition of The Red Book

Posted on Thu April 26, 2018 | By Gemma Holder

The Terra Group, a well-established and reputable real estate leader in Barbados serving all market segments through its brands Terra Caribbean, Terra Luxury and Blue Sky Luxury, today announced the release of its annual Barbados real estate insights publication, The Red Book 2018â.  

How Does Your CAM Stack Up?

Posted on Thu April 26, 2018 | By Janelle Chandler

Common area maintenance (CAM) fees, also referred to as ‘Service Charge’ in some commercial leases, refer to the costs associated with operating and maintaining the space shared by the tenants within a facility, and is charged in addition to the base rent.

Real Estate Investment in the Caribbean

Posted on Thu April 26, 2018 | By Andrew Mallalieu

Often market commentators are heard speaking about the Caribbean as if it is a single market for real estate investment. That is like going to the Olympics to watch sports.  There is everything from a sprint to a marathon, from horse riding to the hammer throw, and everything in between.  Pick a sport please – they are not all the same.  From my seat I get to see the southern Caribbean real estate market from both the helicopter, and in the trenches.  While there are similarities it's the differences that provide the insight.

Creating Office Environments to Attract Tenants

Posted on Thu January 04, 2018 | By Janelle Chandler, Assistant Manager

Janelle Chandler, Assistant Manager Bsc Eng. MSc FM

 In today’s tough economic times many companies have sought to reduce their footprint by optimizing their operations. This has subsequently reduced the demand for commercial office space across the island.

As a result, landlords are now forced to think outside the box and revamp their offering to attract the budget conscious, modern day commercial tenant who is looking for value for money when selecting their ideal office environment.

Aerial Tour of Wildey Commercial Estate

Posted on Mon November 20, 2017

Fully Functional warehouse and office space for use today!

 

Are you Ready for Run Barbados 2017?

Posted on Thu November 16, 2017 | By Terra Caribbean

December in Barbados will open with the exciting Run Barbados Marathon Weekend - the Caribbean’s most highly anticipated road race event that is an annual staple with the local, regional and international road racing fraternity. This decades'-old running tradition has grown exponentially over the years, and is now in its 34th year, promises to be even more exciting than ever.

In the Market for a Great Land Lot?

Posted on Tue November 07, 2017 | By Terra Caribbean

The best way to achieve the perfect home is to build it. This provides a blank canvas to achieve your personal blend of fine details that you may sacrifice when considering an existing home. But in addition to creating your perfectly customised kitchen or one-of-a-kind wrap-around staircase, there is also the step of deciding on the perfect plot to complete your building story.

Could You Be Our Missing Link?

Posted on Wed November 01, 2017 | By Terra Caribbean

Terra Caribbean now has four offices operating across the region. We are looking for an energetic and enthusiastic individual to strengthen the bond between the offices in St. Lucia, Grenada, Barbados and Trinidad in the capacity of Regional Coordinator.

 

 

Investor Attitudes Survey 2017

Posted on Thu September 28, 2017 | By Terra Caribbean

 Investor Attitudes Survey 2017 Intro Image

With all the noise in the market, from BREXIT to the recent budget and NSRL to elections on the horizon, we thought this would be an opportune time to look at investor attitudes and the general Barbados market sentiment.

We sent a short questionnaire to a number of corporate/investor clients to gather their views on a few specific areas of the market. The results were notable and offer some interesting insights into the investors’ mindset in 2017.

Buying Property in Barbados

Posted on Wed September 20, 2017 | By Terra Caribbean

 Buying Property in Barbados

Below is a guide to buying, selling and owning property in Barbados. There are no restrictions on the purchase of property in Barbados by persons who are non-nationals or permanent residents. There are no capital gains or inheritance taxes in Barbados.

 

Settle in St. Philip

Posted on Mon August 21, 2017 | By Terra Caribbean

In our last edition of The Red Book, we acknowledged the fact that the rural landscape of the island has now become the focus for local and overseas investors - and the most noticeable case of this is the parish of St. Philip. Now, the quiet, south-eastern countryside of Barbados is beaconing with residential and other developmental opportunities, positioning it firmly as one of the most desirable parishes to live in on the island.

The Grove - It Really Does Feel Like Home!

Posted on Wed August 09, 2017 | By Andrea Chase

My name is Andrea Chase and I am the lead agent for The Grove development. Officially launched mid last year, The Grove land development has proven to be a success story having sold approximately half of the 158 lots to date. 

Introducing the Country Club Cottages

Posted on Thu July 27, 2017 | By Terra Caribbean

Managing Director at Apes Hill, Donovan Bagwell, recently sat down with the Terra Luxury team to give an update and some insight into one of the most prestigious communities on the island.

Our 6 Hottest New Listings

Posted on Mon July 03, 2017 | By Terra Caribbean

Looking for a great new home or the perfect spot to build your family home? Our agents are ready and able to match you with the perfect property!

Now is the Time to Buy!

Posted on Tue June 13, 2017 | By Susan Armfield

Here’s to a great June and start of the second quarter of 2017!

Fashions change, but principles tend not to, so a man/woman’s home is still their Castle.

Most of us do not have enough savings or collateral to qualify for a mortgage or land loan before we are in our late 20’s or later.

New to Market! Ocean Reef Condos!

Posted on Thu June 01, 2017 | By Terra Caribbean

We're excited to announce the release of a selection of condos for sale at the Ocean Reef development in Worthing. The five-storey development offers the most stunning views of Worthing Bay, private access to Sandy Beach and an excellent location near St. Lawrence Gap.

Join Us at the Republic Bank Mortgage Fair!

Posted on Fri May 12, 2017 | By Terra Caribbean

 

So you've decided that 2017 will be the year you purchase your very first home or piece of land to build your dream home but you aren't sure about financing nor the process for purchasing property. Come take advantage of some expert advice from Republic Bank and our experienced Real Estate agents this Saturday at the Republic Bank Mortgage Fair!

Rental Property Standards

Posted on Tue May 02, 2017 | By Terra Caribbean

Making a property ready for the rental market is largely straightforward, the property must be clean, well maintained and ideally in a desirable area. Clients in the corporate rental sector are often diplomats or workers in the international business corporations and have housing included in their employment package. These requirements while not essential for the general rental market may be necessary for a property to be considered suitable for some of these clients. Some examples of common requirements can be seen below.

Regulated by RICS

Posted on Tue March 28, 2017 | By Lisanne Graham

Ownership of property, whether as an investment or for occupation, is nothing to take lightly. When making the step towards such a purchase, one of the first things typically done is to obtain a valuation of the property.  For peace of mind and protection, every buyer should ensure they select a qualified Valuer from a Firm “Regulated by the RICS”.

Andrew Mallalieu: A Life of Real Estate and Formula 1

Posted on Mon March 27, 2017 | By Terra Caribbean

 

Andrew Mallalieu is a man of many facets. Locally, his face and name are pegged to the role of Chief Executive of real estate conglomerate The Terra Group, but it is his lesser known title that resonates across one of the biggest global sporting fraternities...

Build the home you want at The Grove!

Posted on Mon March 20, 2017 | By Gemma Holder

The Grove is a cleverly master-planned land development with convenient access to all of the amenities on the South Coast. With land lots averaging 5,700 sq. ft and starting at just BDS$750* per month.

 

TERRA CARIBBEAN RELEASES 10th ANNIVERSARY EDITION OF THE RED BOOK ®

Posted on Thu January 19, 2017 | By Gemma Holder - Brand Manager

50 Years On

Posted on Wed January 18, 2017 | By Andrew Mallalieu, CPA, MRICS, CEO

As we publish this 10th edition we cannot ignore that it falls at a time in the 50th year of independence of our small island state.  As a nation we have all been struggling to focus on what we can be proud of when there is so much that is not meeting the high standards that we set for ourselves 50 years ago.  From a real estate perspective I choose to focus on the words and meaning in the the chorus of our national anthem:

A Night to Remember - Terra Caribbean Web Launch

Posted on Wed December 21, 2016 | By Terra Caribbean

Thursday December 15 was a night to remember for the Terra Caribbean team: the venue, the newly finished and amazingly stunning Apes Hill Club House; the occasion, a cocktail reception officially launching our new Terra Caribbean website.

Come Join Us at The Grove Open Day!

Posted on Wed November 16, 2016 | By Gemma Holder

This Independence, create your own milestone by owning a piece of the rock! Join us at The Grove Open Day this Saturday November 19th from 9am-2pm to reserve your very own land lot with an extra special financing offer from Scotia Bank!

 

 

Introducing The Grove Development!

Posted on Thu September 29, 2016 | By Terra Caribbean

The old Barbadian adage ‘owning a piece of the rock’ is as relevant today as it has ever been. Developments such as The Grove ensure that Barbadians have the chance to keep the tradition alive, while enjoying peace of mind knowing that they have secured a sound, lucrative investment.

The Reality of Investing in Land

Posted on Fri September 16, 2016 | By Susan Armfield, Real Estate Agent - Terra Caribbean

Barbados’ economic stability, plus a growing and constant demand, makes land one of the most sound investments on the island.  This is even more pertinent given the depressed present state of the industry, where land prices have declined over the past six years and the prospect for good appreciation is at last in sight. This has re-kindled buyers’ interest and has given trend followers good reason to anticipate significant land value appreciation in the coming four-to-six years. Such appreciation will likely outstrip interest on most other available investment options. But, before making the final decision on a land investment, it is crucial to have an overall appreciation of the market, and be acquainted with the benefits of investing in our ‘Rock’.

The Value of a Valuation

Posted on Wed July 27, 2016 | By Terra Caribbean

Over the past five decades, Barbados has offered investors a climate of steady appreciation on property values thanks to a resilient economic standing. This steady appreciation, doubled with economic factors, saw land values in some areas of the island go from $0.12 per square foot to $100 per square foot in more recent times. For several investors, this value served as a direct reflection of physical and perceived value of their investment, and would be made official through a solid valuation provided by a qualified, trusted valuer.

Barbados’ Tourism Resurgence

Posted on Wed July 27, 2016 | By Terra Caribbean

Barbados’ most intricate sector is its tourism industry, and for property investors, this offers an attractive holiday rentals market. It encompasses several sub-sectors which feed what is considered the foremost driver of the island’s economy.

Changing Times In the Commercial Rental Market

Posted on Thu July 14, 2016 | By Lisa Coyle, Real Estate Agent

Whether you are an entrepreneur, businessman or woman, attorney, doctor, restaurateur, barber or retailer, at some point you will need commercial space. This space has to first suit your budget and it also has to be the ideal location for your clients. Typically, your choice of commercial space will fall under the general term of either A, B or C class rental space. A class - being the most prestigious premier office space with rents at the top end of the scale. Whilst, B & C spaces compete for a wide range of users with rents in the middle to lower end of the spectrum.

Shaking Up Thursday Night at Primo Bar & Bistro

Posted on Wed June 01, 2016 | By Terra Caribbean

If you haven’t had the chance to dine at Primo, the new culinary hotspot on the South Coast of Barbados, it’s a must. Tucked away in a secluded beachfront location just as you enter the St-Lawrence Gap, this two-level restaurant not only serves up some sumptuous meals, but also delivers on those must-capture sunset views. But don’t just expect to snap beautiful pics over a delicious meal. Primo is the latest venture for the owners of Cin Cin located on the West Coast of Barbados, so here’s the best spoiler alert you’ll ever get: it’s a completely luxurious experience from start to finish.

Summary of the Budgetary Proposals Relating to Land Tax

Posted on Tue July 07, 2015 | By Knowledge Department

The recent budgetary proposals tabled by the Minister of Finance the Hon. Chris Sinckler, included a number of amendments to the land tax rates for all categories of properties. The amendments included a reduction in the residential value bands and an increase in the non-residential and unimproved land rates.

Plantations 101 - A Brief History

Posted on Thu April 23, 2015 | By Hayden Hutton

The six-year period leading up to the peak of the market in 2006 is widely regarded as a period of unprecedented growth in the Barbados market. This boom period saw compound annual growth in some market segments of 12% and staggering prices being achieved for property in some areas of the West Coast. The reality is that this growth cycle paled in comparison with the island’s first property boom, which occurred much earlier in our history.

What Factors Determine The Value Of Your Property?

Posted on Wed March 04, 2015 | By Annalisa Sealy, Real Estate Agent

Annalisa is one of our savvy Real Estate Agents

"Market conditions are key in determining value. To a large extent, the value of the home is currently driven by what the average purchaser is willing to pay for a property, rather than what we would consider a ‘bricks and mortar’ or replacement cost value."

-Annalisa Sealy, Real Estate Agent

Open House at South View!

Posted on Wed February 04, 2015 | By Gemma Holder

You are invited to an Open House at South View, this Saturday, February 7th from 10 a.m. -  2 p.m. This is your opportunity to get a guided tour of the development, including the individual land lots available for sale and the modern, well-designed South View 222!

 

What A Client Wants: Trends In Commercial Space Leasing

Posted on Thu January 29, 2015 | By Sue Armfield

Sue's one of Terra Caribbean's knowledgeable Agents

Sue Armfield - Real Estate Agent

"With the start of a fresh new year, it’s a good time to take a holistic look at the changing demands and trends in office leasing - in order to plan and to budget more effectively, to make adjustments where indicated and, to generate prosperity for landlords, developers, tenants and agents alike."

Red Book Welcome 2014

Posted on Fri May 09, 2014 | By Andrew Mallalieu

It’s seven year itch time!  Yes, this is the seventh edition of The Red Book.  The challenge each year is to make it better, and by ‘better’ we mean more relevant to you the reader.  This year we have added more statistics, more professional articles and we have even done some “ancient history” research with Hayden interviewing the two agents responsible for the sales at Sandy Lane Estate in the 1960s.  I think you will find that article both informative and entertaining.

The Investor and Compulsory Acquisition - Barbados Law

Posted on Fri November 02, 2012 | By Michael Alleyne, Attorney-at-Law

Legal scales

 

For the average Barbadian citizen, most encounters with the powers of the Crown are limited to fixing roads, maintaining order and things of the like, nothing alarming at all. However, occasionally, citizens come face to face with the awesome power of the state, when they receive a notice expressed in some legal jargon, informing them that their land is to be acquired for some public purpose.

International Business and Financial Sector Makes An Impact

Posted on Wed June 27, 2012 | By Marita Greenidge

Barbados Parliament Building

 

 

 

 

The International Business and Financial Services sector contributes nearly US $500 million (BDS $1 billion) to the Barbados economy. The greatest portion of this spend does not emanate from direct taxes paid to the Barbados Government but from indirect spending in the Barbados economy. Real estate in particular, with earnings of just over US $15 million (BDS $30 million) in 2010 is one of the primary beneficiaries of this sector.

Market Outlook and Emerging Trends

Posted on Wed March 21, 2012 | By Andrew Mallalieu, CPA MRICS

Real estate clock

 

Last year I opened the Pink Pages by speaking to uncertainty in the market. This year I thought I would provide you with “miscellaneous ramblings” of what we have seen in the market and what we are likely to see. While it is probably impossible to predict with complete certainty the direction of the market in every segment, I hope that from these perspectives you will have an indication of the direction that the market is likely to take. (Please do not skip to the conclusion as it may make no sense without following the progression in thought.)

Valley View Barbados - LAUNCHED!

Posted on Thu February 16, 2012 | By Kathy-Dawn Burke

Valley View Barbados LaunchThis morning several Barbadian real estate agents had the opportunity to view the island's latest property released to the market ... Valley View. A new 37-home community in Vaucluse, St. Thomas, priced from BBD $722,000 (including house and land), this new development demonstrates one of the most compelling options for middle-income homes in Barbados.

Real Estate News from the UK Market

Posted on Mon February 13, 2012 | By Ramona Smart

Prices in Prime Central London climbed January 2012

 

 

 

Knight Frank, a leading independent global residential and commercial property consultancy, and the UK affiliate of Terra Caribbean sister comapny, Bajan Services Ltd., recently released an update on the UK Residential Market. I'm delighted to share this report which gives a snapshot of the UK housing market in January 2012.

Expanding Our Knowledge to Serve You Better!

Posted on Fri November 11, 2011 | By Marita Greenidge

Terra Caribbean has strengthened its brokerage and advisory department expanding the range of services offered to clients. We are delighted to announce that Director of Brokerage and Advisory Services, Hayden Hutton, has become the first real estate professional in the island to be awarded the prestigious Certified Commercial Investment Member (CCIM) designation.

Where Have We Come From – Where Are We Going?

Posted on Mon October 10, 2011 | By Andrew W. Mallalieu

Barbados Real Estate Certainty is what we want; uncertainty is sometimes what we get. Making real estate decisions in times of uncertainty requires good research, experience and courage. We have seen courage paying off in the past six months; and we have seen weakness punished. My father told me that the best time to buy something was when you did not need to buy, but the vendor needed to sell. The reverse is also true.

Barbados Land Tax Ease!

Posted on Mon September 05, 2011 | By Symon Clarke

The Honourable Christopher Peter Sinckler, M.P. - Barbados

 

On Tuesday August 16th, The Minister of Finance, The Honourable Mr. Christopher Sinckler presented to the House of Assembly, the Financial Statement and Budgetary Proposals for the year 2011. Relevant to the real estate industry, there was a proposal to modify the land tax value bands, which at first glance would mean lower taxes.

The Root of Buying and Selling Property in Barbados

Posted on Tue August 09, 2011 | By System Administrator

 

Legal ProcessLEX Caribbean explains the laws and procedures of buying and selling Barbados property in their article taken from The Red Book 2011, written by Vidisha Hathiramani and Alana Goodman-Smith. We trust you will find this informative and please let us know if there are any other questions or comments you might have on the subject.

When buying or selling real estate in Barbados, purchasers and vendors alike often wonder what goes on behind the scenes, in terms of the process involved. Sometimes this question is posed in relation to the length of time it may take ...

When Reality Bites In Paradise - Covering Your Assets

Posted on Tue July 12, 2011 | By Kathy-Dawn Burke

Tranquil Caribbean ocean BarbadosBeing the start of our hurricane season we thought we would share one of the informative insurance articles from The Red Book 2011, written by Richard Ince of CGM Gallagher (formerly Atria Insurance Brokers) ... Enjoy! We hope you will find it helpful and please let us know your thoughts!

So, you have found your “dream-of-a-lifetime” home! You walk off your patio and it is twenty yards to a perfect Barbados beach encircled by the calm blue water of the Caribbean Sea. A natural paradise!

Land Tax 2011

Posted on Wed June 29, 2011 | By Andrew Mallalieu

Within the past week the new notices of valuation have been arriving at mailboxes around the island.  In Barbados, every three years is a valuation year. The last valuation year was in 2008, thus making this year, 2011, a valuation year as well. Here is a quick background on the valuation legislation and the process to be followed.

A Tremendous Achievement for Barbados: Bridgetown Now A World Heritage Site

Posted on Tue June 28, 2011 | By Kim Howard

The Clock Tower at The GarrisonBarbados now has the international distinction of being included on the United Nations-managed World Heritage List. News of this came this past weekend from Paris, France when the World Heritage Committee determined that “Bridgetown and its Garrison deserved a place on the List.” The list includes over 900 cultural or natural sites all over the world, which are deemed to be of outstanding universal value.

Barbados Rental Property: Flexibility Brings Success

Posted on Mon August 23, 2010 | By Kim Howard

Karyn Rezende - Agent

In today's highly competitive real estate market landlords can struggle to get properties rented at the rate that they want. For many this creates a dilemma. Should they continue to wait for the right tenant who is willing to pay what they're asking? Or should they consider reducing the rental rate and get a new tenant in the property as soon as possible? Of course there are advantages and disadvantages in either approach.

For Rent to Rented - Nine DOs and DO NOTs

Posted on Wed August 18, 2010 | By Kim Howard

Just RentedMost people who offer property for rent want a tenant moved in as soon as possible. Recently we helped one of our clients to get their apartment rented in just over 48 hours! The client was thrilled, the tenant was thrilled and so were we. While scenarios like this are uncommon, there’s much that can be done to reduce the length of time it takes to get your property rented. Here are some key tips to take you on the fast track from “For Rent” to “Rented”.

First Time Buyer: Securing Property

Posted on Fri August 06, 2010 | By Kim Howard

After seeing one of our emailsLand For Sale with land for sale in Barbados, Ron, a first time buyer sent us a question. He asked:

How much would I have to pay upfront to secure this piece of land?

We’re always happy to answer real estate questions, especially from a first time buyer!