St James, Barbados
W
ith its white beaches and
azure seas, the West Coast
of Barbados has always
been the most expensive and
fashionable part of the island for vacation
homes. Exclusive villas and the grand
mansions of the superrich hug the narrow
palm-shaded beaches here, with sale
prices reaching as high as $50 million.
But as rarefied as this 12-mile, or 19
kilometre, stretch of coastline is, prices
are now relatively low. Known for its
relaxed lifestyle, tropical beauty and
good infrastructure, Barbados underwent
a building boom in the early 2000s,
especially on the West Coast.
But the 2008 global downturn hit the
Caribbean hard, though Barbados fared
better than most other islands.
Still, prices dipped as much as 30 percent
on Barbados over the following five years,
though exact figures are difficult to find.
Beachfront apartments that once sold
for $1,000 per square foot, or €7,950 per
square meter, now are closer to $700 per
square foot, and $3 million apartments
can be picked up for $2.25 million, said
Richard Young of West Coast Villas, an
affiliate of Sotheby’s International Realty.
PERFECT HOMES INTERNATIONAL MAGAZINE
173