International Real Estate and InvestorsLeading overseas property investment experts, Principal International, say that the luxury resort of Merricks in Barbados is set for a price rise of 10% across the whole development on the 1st of March 2007. With the recent feature in their Prestige Life magazine, British Airways have named their “favourite five” spa operators of the World, one of which is said to be partnering the Merricks resort, and so apartments and villas here are selling out fast.
A local real estate agent also confirms that the British people are among the highest number of investors in Barbados, making up some 80% of purchasers, and millions of dollars are being spent buying property here. The market is growing faster than ever and it is expected that at least 2000 new properties are going to be built on the Island. Despite this apparent staggering number for such a small land mass, there will shortly be a halt to this volume of development as there is a limited amount of land available to build on. This tragic news means that demand will eventually outstrip supply and the doors will be closed to new investors.
Principal International still have a small number of properties available for sale in the Merricks resort at the current prices. If investors buy before the 1st March this is a prime opportunity to purchase one of these luxury properties with an instant 10% equity gain. With only 3 weeks to go until the prices go up, availability is reducing at a significant rate.
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