THE ADDRESS Magazine No.20 | Page 94

A magnificent property that represents outstanding quality of life, style, exclusivity and prestige W ith clients looking for a long-term lifestyle investment, the Barbados property market has proven to be one of the most resilient in the Caribbean. Particularly in times of economic instability, a property within a recognised location, on such an established island, is an increasingly popular asset. At the high end of the real estate market, Barbados remains firmly on the radar of affluent buyers. Investors from the UK, U.S., Canada and mainland Europe are looking to buy a second or third home on the island, due to its excellent infrastructure, economic and political stability, and unbeatable weather. Special Entry and Reside Permits (SERP) are offered to foreigners who own substantial property (2 million USD or more) in Barbados to encourage foreign investment. The investment must be purchased with funds from outside Barbados. Under the program, non-nationals are allowed to visit Barbados with any frequency or to live continuously for up to five years and apply for term renewals. 100 www.theaddressmagazine.com