The effect of the global recession on the local market has been significant, characterized by substantial reductions in transaction volume and demonstrably longer exposure periods across all property segments.
Beachfront land has always had great appeal to persons wanting to own a piece of paradise. In Barbados, beachfront development has ranged from as far north as Port St. Charles, all the way down to The Crane Private Residences in the South-East of the island. Over the years, this range has seen increasing prices as the supply of land, villas and condos declines.
So, you want to purchase a property and have been advised to request a Market Valuation report. Your report has arrived, but how was the Market Value derived? In this blog we will first define Market Value, and then walk you through the main methodologies/ approaches for valuing real estate, to give you some insight into the process.
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”.