It’s that time of year again, and I don’t mean Christmas! Land tax bills will soon be issued, and the 2020-2021 year is a revaluation year. What this means, is that the Barbados Revenue Authority (BRA), will have completed their triennial revaluation process and while only the tax rates changed last year, the assessed site value (for vacant properties) or improved value (for built properties), may change on the land tax bills for this year resulting in an increase in tax due.
You’ve found your dream property, or parcel of land with spectacular views and now have to source the funds to pay for it. Your Bank advised that you need to get a Market Valuation Report to support your lending application and after deep thought you’ve selected a Valuer from the approved list… so what’s next? After formally engaging the Valuer and arranging for them to get access to the property, providing the following information is very helpful and can reduce the time taken to complete the report and get you a step closer to moving in.
Property Transactions can be stressful and one of the biggest decisions of your life. If you are looking to buy, sell or lease - whether a residential house or apartment, commercial office, warehouse or retail store - we can help!
Our Leader of Advisory, Lisanne Graham weighs in on the heavily discussed topic, Land Tax. Read more to find out how these newly proposed implications may impact you.
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”.