The Insider's Guide to Buying Property in Barbados
Welcome to the 7th Heaven Properties guide to buying property in Barbados, your essential companion for navigating the enchanting appeal of one of the most alluring destinations in the Caribbean.
Famed for its crystal-clear waters, powder soft white sand beaches and an unparalleled reputation for fine living, Barbados has long been a sought after destination for the most discerning property buyers.
Discover the beauty of this incredible Eastern Caribbean island, find out why property buyers are investing in real estate in Barbados and delve into the real estate market with a showcase of property listings and blog posts highlighting the island’s unique qualities and advantages.
From the ins and outs of buying property in Barbados to an essential overview of relevant taxes, this is your ultimate go-to resource.
Overview - The Barbados Real Estate Market
Barbados Unveiled: An Idyllic Caribbean Haven with a Distinctive Flair
Welcome to Barbados, an island sanctuary where the mesmerizing beauty of its landscapes and the effervescence of its culture coalesce to create a setting that captivates the soul. This small yet enchanting paradise, covering a mere 166 square miles, is home to approximately 287,000 warm-hearted people, who delight in sharing their rich heritage and island charm with visitors. As you explore the island’s luxurious beachfront villas, serene countryside retreats, and contemporary apartments, you’ll begin to understand the irresistible magnetism that makes Barbados truly one of a kind.
A Symphony of Seascapes and Natural Wonders
The island’s 80 pristine beaches are nothing short of a testament to its natural allure. The alluring turquoise waters and powdery white sands of the Platinum Coast invite you to bask in a world of unrivaled opulence. The dramatic east coast offers an entirely different experience, with rugged cliffs and powerful Atlantic waves painting a landscape that’s both peaceful and thrilling. As you move south, the lively South Coast beckons, boasting an intoxicating mix of azure waters, lively nightlife, and a pulsating energy that makes it impossible not to be swept away by its infectious vibe.
Unveiling Barbados’ Real Estate Marvels
Barbados’ thriving property market offers an enchanting mix of options for discerning buyers. Those seeking a luxury retreat will find no shortage of ultra-luxe beachfront villas dotting the island’s coveted Platinum Coast. Here, you’ll discover opulent residences that embody the essence of refined island living while offering every imaginable modern amenity.
If your heart desires a more tranquil setting, the lush rolling hills of the countryside hold the key to serenity. Here, private estates and elegant plantation homes offer a picturesque backdrop for a life steeped in history and natural beauty.
For those seeking a harmonious blend of modern luxury and island charm, a selection of new developments offers chic apartments, townhouses, and condos near the bustling South Coast. These properties artfully combine contemporary amenities and design with easy access to the vibrant nightlife, restaurants, and leisure activities that make this region so enticing. Experience the best of both worlds as you enjoy the excitement of the South Coast while retreating to the serenity of your stylish island home.
Embracing the Bajan Lifestyle: A Cultural and Recreational Haven
Barbados is an island that has long captivated the hearts of affluent second-home buyers seeking a slice of Caribbean paradise. With its rich cultural heritage, diverse culinary scene, and a host of recreational activities, the island provides an idyllic playground for all who venture here.
Golf enthusiasts will be delighted to find some of the Caribbean’s most highly acclaimed golf courses, such as those at Sandy Lane, Royal Westmoreland and Apes Hill, nestled within the island’s lush landscapes. Polo, another beloved pastime, has taken root in Barbados, with world-class facilities like the Barbados Polo Club and Holders Hill catering to the sport’s passionate followers.
Epicureans will find themselves in a gastronomic paradise as Barbados boasts an exceptional culinary scene, ranging from casual beachside eateries to sophisticated fine dining establishments. The island’s vibrant culture comes alive through its diverse cuisine, a fusion of international and local flavors that tantalize the taste buds.
Barbados: A Caribbean Dream Come True
As you embark on your journey to uncover the treasures of Barbados, you’ll discover a destination that offers more than just an idyllic island escape. With its distinctive qualities and a diverse real estate market, Barbados caters to the desires of property buyers from around the globe. This enchanting island, with its vibrant culture, unparalleled natural beauty, and exceptional amenities, stands as a shining beacon of Caribbean allure, beckoning you to join the ranks of those fortunate enough to call it home.
Come, experience the magic of Barbados firsthand, and let the island’s charm sweep you off your feet. With its captivating blend of opulent real estate, unmatched natural landscapes, and a pulsating cultural scene, it’s no wonder that Barbados has earned its well-deserved status as a preferred destination for discerning property buyers. So, whether you’re seeking a palatial beachfront estate or a cozy coastal hideaway, Barbados promises an unparalleled lifestyle that will leave an indelible impression on your heart. Embrace the Bajan way of life and make your Caribbean dream a reality in this beautiful island paradise.
“Barbados is an island that has long captivated the hearts of affluent second-home buyers seeking a slice of Caribbean paradise”
Buying Process, Fees & Taxes
- Can foreigners buy property in Barbados?
Yes, foreigners can buy property in Barbados and the Government of Barbados welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in Barbados and foreign buyers enjoy the same rights as Barbadian citizens, including the right to purchase beachfront land. However, non-resident buyers must obtain permission to purchase property from the Barbados Exchange Control Authority and funds transferred to Barbados for the purpose of purchasing property must be registered with the Central Bank of Barbados.
Property can be purchased by an individual or a company which can reduce costs.
- Buying process
Buying property in Barbados is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once you have made an offer on a property and the offer has been accepted, you will need to engage a Barbadian attorney to conduct a title search.
- The seller’s attorney will prepare the contract.
- You will need to pay a 10% deposit to secure the property which will be held in escrow by the seller’s attorney until the sale is completed.
- All non-residents must obtain permission to purchase property from the Barbados Exchange Control Authority. This is essentially a logistical step as Barbados does not restrict foreign ownership of property.
- You will typically be required to make payment of the remaining 90% within 3 to 6 months upon conveyance of title of the property.
- Fees & taxes
Transfer Tax
Transfer tax of 2.5% (the first BBD $150,000/USD $75,000 is exempt for properties with buildings; no exemption for vacant land).
Stamp Duty
Stamp duty of 1% (calculated on the purchase price or fair market value, whichever is higher).
Legal Fees
Both buyer and seller are responsible for their own legal fees which typically amount to approximately 1.5% to 2% of the sales price of the property.
Land Tax
There is also an annual Residential Land Tax which varies according to improved value up to 0.75%, but is capped at USD $30,0000.
Latest Real Estate Listings in Barbados
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Residency & Citizenship
- How long can a foreign citizen stay in Barbados?
Citizens of the USA, Canada, EU and UK may generally stay in Barbados on holiday for up to 3 months (90 days) without a visa.
- How do you become a resident of Barbados?
Barbados offers several pathways to residency, designed to attract professionals, entrepreneurs, retirees and investors seeking the island’s exceptional quality of life, political stability, and business-friendly environment.
Special Entry and Reside Permit (SERP)
The SERP programme offers two categories of residence permits, with different investment thresholds and benefits:
Category 1 SERP (Indefinite Residency with Work Rights)
- Minimum investment of US $2,000,000 in Barbados from foreign-sourced funds
- Certified net worth exceeding US $5,000,000
- Application fees: US $5,000 (over 60) or US $3,500 (under 60)
- Work permit eligibility with additional fees: US $15,000 (over 60) or US $20,000 (under 60)
- Indefinite duration
Category 2 SERP (Property-Based Residency)
- Minimum US $300,000 real estate investment from foreign funds
- Proof of financial self-sufficiency for duration of permit
- Initial fee: US $5,000 per adult
- Renewable every 5 years until age 60
- Indefinite duration if granted at age 60 or older
- No work permit eligibility (ideal for retirees)
Key Benefits of SERP:
- Freedom from capital gains and inheritance tax
- Tax credits on foreign income transmitted to Barbados
- Family inclusion (dependents under 18 or university students)
- Access to excellent public and private education systems
- No obligation to maintain continuous residence
Barbados Welcome Stamp (Remote Work Visa)
For digital nomads and remote workers earning at least USD $50,000 annually, the Welcome Stamp offers a 12-month renewable visa to work remotely from Barbados while remaining exempt from local income tax.
Fees are USD $2,000 for individuals or USD $3,000 for families.
The program has been extended until December 31, 2026, with many participants using it as a pathway to longer-term residency through SERP.
Traditional Immigrant Status
Financially self-sufficient individuals can apply for immigrant status under the Immigration Act, requiring demonstration of ability to support themselves without local employment. After 5 years of legal residence with immigrant status, applicants become eligible for permanent residency.
- How do you become a citizen of Barbados?
Citizenship by Naturalization
Individuals who have resided in Barbados for at least 5 out of the last 7 years (including the entire 12 months immediately prior to application), are of good character, and intend to continue residing in Barbados are eligible to apply for citizenship by naturalization.
Mortgages in Barbados
Looking for financing to fund the purchase of property in the Caribbean?
Contrary to popular misconception, it is possible for foreign nationals looking to invest in Barbados real estate to apply for a mortgage.
Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in Barbados.
For more information, see our page on: Caribbean mortgages.
How to Get There
There are direct international flights to beautiful Barbados from various cities in the United States, Canada and the UK.
International flights arrive at Grantley Adams International Airport located on the South Coast of Barbados.
From the USA, there are regular flights from Charlotte, Miami, New York, Philadelphia and San Juan to Barbados.
From Canada, fly with Air Canada from Montreal or Toronto.
From the UK, BA and Virgin Atlantic operate regular flights from London to Barbados.
- New York to Barbados 5h
- Toronto to Barbados 5h 15m
- Miami to Barbados 3h 50m
- Antigua to Barbados 1h 05m
- London to Barbados 8h 25m
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