Barbados showing increasing demand

As headlines scream about the latest property investment hotspot, some experts are advising would be owners to look towards the tried and the tested in terms of a good long term investment.

Everyone interested in property markets know that they rise, peak and plateau, but old favourites can endure. One is the Caribbean island of Barbados where demand for luxury properties is on the increase.

On this island would be investors are largely relying on the tourist market if they are in the rental business. 'We advise would be purchasers to look at buying property as a business decision rather than as a dream-filled holiday home. Barbados is undoubtedly a paradise but the foremost thought should be the benefits a purchase will reap,' says Chris Sawyer, of GEM Estates.

Income from tourists is steady and reliable on this popular island, according to the island's tourist board. It started in a big way in the 1960s and has flourished ever since. Latest figures from the Caribbean Tourism Organization state that long stay visitors increased in 2007 and the steady stream of celebrities pictured on the island helps to promote it.

Most celebrities from Simon Cowell to Hugh Grant stay at the famous Sandy Lane Hotel which is undoubtedly the place to see and be seen, but incredibly, for an island 21 miles long by 14 miles across, there are only three five-star hotels so luxury accommodation to rent is in demand.

There are a number of luxury resorts with hotels, spas, sporting facilities and a wide range of accommodation currently being built and available to buy off plan.

The evidence that Barbados is a good long term investment it considerable. The World Economic Forum has ranked Barbados as the number one environment in Latin America and the Caribbean for travel and tourism investment.

The attractions of Barbados is confirmed by the 2008 annual Travel & Tourism Competitiveness Report which examines such factors as safety and security; air and ground infrastructure; health and hygiene; policy rules and regulations; tourism facilities; human and natural resources; affinity for travel and tourism; price competitiveness and environmental sustainability.

According to the report Barbados ranks second overall for the country's affinity for travel and tourism, with a positive attitude towards tourists and the value of tourism.

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