Barbados need not be sorry for being costly – Sir Paul

bOne of Barbados’ leading luxury estate agents is making no apologies for the cost of owning a home here.

Choosing to focus on overseas clients, Managing Director of Altman Real Estate Sir Paul Altman admitted that Barbados is indeed an expensive place to purchase homes.

However, he said the many attributes and facilities available here justify the cost.  Still, Sir Paul was not certain that a study by Australia-based moving company Assured Removalists on house prices here was entirely correct.

The study found that Barbados was the world’s second most unaffordable destination to buy a house, when average house prices are measured against average income ratio

“I am not sure that the statistics are 100 per cent accurate, but we don’t make any apologies for the fact that we are an expensive destination. Prices now have come down, it depends if you are comparing prices five years ago . . . .In the old days people came and pay whatever the price was, now-a-days people are negotiating and the sellers are wiling to negotiate, so we have a lot of flexibility more than people realize,” Sir Paul told journalists yesterday during the introduction of the second phase of the Beach View Villas and Suites in Derricks, St James.

“I am not suggesting Barbados is inexpensive but I certainly don’t think it is one of the most expensive places. I think that we compete at every level with what I would say are the top tier of properties that exist in any part of the world in terms of holiday destinations. Think about what we have here in terms of our facilities – restaurants, sports and even just the natural environment – and I always throw people in that equation because the quality of people that we have around here add a tremendous value to everything. You can’t go to many places in the world and have all of those components and expect that it is going to be at the mid-level in terms of pricing,” he explained, while adding he remained upbeat about the future of the real estate market here.

Similar sentiments were shared by Managing Director of Property Consultancy Services Terry Hanton, who, also focusing on overseas buyers, agreed that Barbados was an expensive destination to own a home.

In fact, he said, just getting to Barbados is costly, and Barbadians must “live with what we are”.

“Barbados is an expensive place to get to first of all. It is remote from many other places. The strong part of the market is the UK market so if you think about where the sterling is now it is really difficult to buy because they used to buy when the value of the pound was US$2 but it is now $1.30.
So it is quite challenging from that perspective,” he said.

“We have to live with what we are.
We have to try to be a top-notch destination and we can’t compete with cheaper destination in many respects. So we have to niche ourselves at the top end,” Hanton said.  

38 Responses to Barbados need not be sorry for being costly – Sir Paul

  1. Simon Gooding
    Simon Gooding August 31, 2017 at 2:52 am

    …….After reading this article ….one word comes to my mind ..Greed(y)……

    • Shawn Phillips
      Shawn Phillips August 31, 2017 at 5:20 am

      Its people like him that has it that way

    • Lennox Phillips
      Lennox Phillips August 31, 2017 at 7:34 am

      If he had it they do what they did in Zimbabwe to the blacks until they put the machete on their ass

  2. Carson C Cadogan August 31, 2017 at 6:39 am

    Everything in Barbados is sky high , thanks to the Barbados private sector.

    Too much profiteering in Barbados by the merchant class in all sectors of our economy.

    I would like Charles Herbert to address these issues.

  3. Rubertha Blackman
    Rubertha Blackman August 31, 2017 at 7:28 am

    Greedy and so damn out of touch comes to mind with these people.

  4. Lennox Phillips
    Lennox Phillips August 31, 2017 at 7:33 am

    White trash

    • Lennox Phillips
      Lennox Phillips August 31, 2017 at 7:53 am

      They are so greedy that they would upset every system in place to bridge the gap between tourist and residents

    • Albert Edwards
      Albert Edwards August 31, 2017 at 11:12 am

      Another racist who needs to grow up

    • Lennox Phillips
      Lennox Phillips August 31, 2017 at 11:49 am

      Weve grown enough to know u wo t get away

    • Judy Mahon Vickers
      Judy Mahon Vickers August 31, 2017 at 12:54 pm

      Is that necessary Lennox?????

    • Lennox Phillips
      Lennox Phillips August 31, 2017 at 1:06 pm

      If they had their way we would only be allowed in certain places with white shirt,black pants and black bow tie

  5. Coleridge Best
    Coleridge Best August 31, 2017 at 7:45 am

    Plus Barbados drell on capitalism!for sure it gone mad ,song by mighty Sparrow.

    • Lennox Phillips
      Lennox Phillips August 31, 2017 at 7:55 am

      Nothing wrong with capitalism as long as ure sending to jail corrupt officials,its impossible here and there

    • Coleridge Best
      Coleridge Best August 31, 2017 at 7:56 am

      True that!

  6. BigTaw August 31, 2017 at 7:59 am

    Come to Bermuda and see house prices.

  7. Sophia Cumberbatch
    Sophia Cumberbatch August 31, 2017 at 8:10 am

    After all you all are the only ones who can afford it.What about the average man that does all the donkey work ,doesn’t he or she deserve a piece of the pie ????

  8. Abiola Yearwood
    Abiola Yearwood August 31, 2017 at 8:30 am

    Money talks

  9. John Strutton
    John Strutton August 31, 2017 at 9:10 am

    One would expect nothing less from someone whose income is based on commission from sales. It is his type (of all colours) that force prices up to increase their own income, at the expense of affordability for the average person. The words “snout” and “trough” spring to mind.

  10. Maaz A Love
    Maaz A Love August 31, 2017 at 9:14 am

    A money hungry Jew-ish man …

  11. charjoy August 31, 2017 at 9:24 am

    Talking about white greed and manipulation, what is this Agile Coach that Hyuna speaks of for work permit, see BT page 8. Immigration when will this stop?

  12. Barker Antony
    Barker Antony August 31, 2017 at 9:25 am

    For your rich villas yes , for the average man property FAILLLLLLLL!!!!!!!!

  13. Steve L. Jemmott
    Steve L. Jemmott August 31, 2017 at 11:02 am

    ….these actions will eventually turn on us like an Albatros. secretly, quietly and gradually the effects are unfolding; it’s a dangerous precedent being set by a particular class .

  14. Albert Edwards
    Albert Edwards August 31, 2017 at 11:19 am

    If the government (not just this one) wasn’t running such a massive current account deficit that needed, under a fixed exchange regime, to be plugged by similarly massive foreign capital inflows, it wouldn’t have to sell off its housing and commercial housing stock to plug the gap. Devalue the currency to competitive levels instead of the ludicrously overvalued level it is now and the current account deficit should decline and the properly regulate foreign purchases of residential property. In Switzerland they ban foreignears from buying property if they are non residents. That is an extreme solution but one that should be considered in my opinion.

    • FEDUP bajan September 1, 2017 at 12:39 am

      Well said, so well said.

      Release the dam market, why is it only certain people get licence to import and sell stuff. That’s what this snotty dick of a man can make these out of touch statements.

      It’s the government retaining this dam failed economic model that cause the life hardships of the average bajan.

      But DeMs in government don’t care. DeMs like eating with these same out of touch elite bajans. Blasted selouts.

      I want a dam dominoes pizza, a pizza hut, let the average working man get jobs.

      Make the currency competative, we are not a luxury destination like Malta.

      Wake up barbados

  15. Robbie-John Creole Fos
    Robbie-John Creole Fos August 31, 2017 at 11:22 am

    Why would they put a photo of Mr. Nanton and not Sir Paul?

  16. Anfaani Henry
    Anfaani Henry August 31, 2017 at 11:40 am

    To the people who live there? Citizens should be able to buy property instead of all the Europeans who come and rape the land But…I’m sure you can afford to buy what you want. Steupssse

  17. Epaphras D. Williams
    Epaphras D. Williams August 31, 2017 at 12:08 pm

    Translated as Barbados need not be sorry for being stupid.

  18. Carson C Cadogan August 31, 2017 at 1:01 pm

    Barbados has the highest cost of living in the entire Caribbean. Friends from all over the World always ask how Bajans manage to survive in a country where EVERYTHING is so expensive.

    The greedy merchant class in Barbados is totally responsible for this disgusting situation. It is not without significance that the PLANTATION class, the 3% of Barbados population has the country in an economic strangle hold.

    In our next 50 years of Independence this situation must be resolved for the better of the country, this simply can not be allowed to continue.

    Charles Herbert has all sorts of things to say about the Govt., but he is not telling the country how he and his private sector intends to remedy the situation and reduce prices all across the board in Barbados.

    Or is this a plan to keep Black people poor?

  19. Tamara Dottin
    Tamara Dottin August 31, 2017 at 1:09 pm

    He’s just running his mouth his scared because the value of land in Barbados is dropping.

  20. jrsmith August 31, 2017 at 5:47 pm

    People ,people ,people , this is our fault we allow our politicians to get out of hand , lock our people down and control them…..
    Politicians work hand in hand with corporations, which make them politically corporate corrupt ………………. Corporates in barbados make they profits , paying low wages but these said profits is on the one way circuit out to the tax havens, who allows this , thats why barbados is always being accuse of tax and money laundering..thats how the game is played out……………………
    Look at all the dodgy land deals in barbados, which starts in barbados and ends up in the Virgin Isles, Cayman or Bermuda avoid paying taxes in barbados , who fault is that ,who benefits from that not the black masses…..

  21. Sunshine Sunny Shine August 31, 2017 at 7:52 pm

    I would love to call you by your right name but I know BT would not allow it. So all I am going to say is that you are talking a whole bunch of one sided sh***.

  22. Carlisle norville August 31, 2017 at 7:53 pm

    these children of the white pathological supremacist, are the ones that RUN Barbados ( NOT you black or brown people)once you coloured people feating & fuck…..g,& drinking their strong drinks,& buying up all their stuff @ X mas & supporting every thing they sponsor, & won’t learn anything about business, wont save a cent of your money ,& all the slave children girls I talking bout , letting them F you & give you the money you need , things good for them, talk all you want, go pun brass tacks all you want , march all you want, @ de end of the day , whites that have MONEY run things in BIM ,ya git it )de only jobs available for you children of slaves ,is serving whites in the hotels ,& if ya get a better job be sure as you Bajan women know, ya got to give de boss or supervisor some of ya sweets you know what I mean this is how we like it we like it so.

    • Carson C Cadogan September 3, 2017 at 5:38 pm

      It has to change.

  23. Tee White August 31, 2017 at 8:14 pm

    It is very easy for him to say this because no matter how high the house prices go, he will never, unlike thousands of ordinary Bajans, be unable to buy a house. Nor will he have to pay BD$300k to live in a chicken coop as is going on in certain ‘housing developments’. The thing is that until we Bajans deal with this legacy of white supremacy from the days of slavery, we will never realise those words in our national anthem which claim “these fields and hills beyond recall are now our very own”.

  24. Terri September 1, 2017 at 6:56 am

    We as Barbadians have no love for this land. We litter, rob, shoot, cheat this beautiful country every day. Every day and night it’s citizens do a sordid and drunken dance that tells a story of laziness and filth. We lie in every morning with a hangover when we should be at work together.
    There is no pride or industry and only ourselves to blame.

  25. Carson C Cadogan September 3, 2017 at 5:35 pm


    welcome you family into this this lovely 2 bedroom, 2bathroom, terrace houses located within the serene neighborhood of community 25.This property features a spacious living area,dinning area,a fitted kitchen and a spacious compound neatly paved, with a 24/7 security

    US $45,000.00

    For rent:

    6 bedrooms and 2 halls, 2 rooms in the basement, roof terrace with ocean view, family home

    US $1000.00 per month
    ( whole house, not rooms to rent)

    BLACK people are being taken for a ride in Barbados.


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