Q1-barbados-real-estate-market-update-2021.PNG Q1 Barbados Real Estate Market Update 2021

The real estate market in Barbados is very active, which is good news for anyone looking to sell. The first quarter of 2021 has been filled with successful transactions and has been quite rapid. Sellers are finalizing sale agreements in no time with buyers from local and foreign territories. With affordable mortgage rates and great deals, it is no surprise that real estate in Barbados is thriving.

Clients have a myriad of options to choose from that suit their specific interests and needs. The sought-after price ranges for land sales range between BDS$300,000 and under. Houses with asking prices in the region of BDS$1 Million and below are also of high interest to buyers. There are hustle and bustle for houses in the region of BDS$500,000 and under. Customers are also looking to purchase land ranging from BDS$100,000 and under.

If you own land or property on the island and you're considering selling, now is the time. At the moment, there is a huge market for properties in Barbados, and procrastinating can be costly because it is impossible to guarantee its stability. We are experiencing an influx of both local and overseas buyers who are looking to purchase properties. The bulk of our clients are from Barbados, United Kingdom, USA and Canada.

Here are some helpful tips for buyers to avoid unsuccessful purchases and prevent losses:

Although cash buyers do not need pre-qualification, every other buyer should get pre-qualified with a lender before looking for properties. It isn't advisable to sign a sale agreement and pay the ten percent deposit without initial approval from your lender. Note that the ten percent deposit is non-refundable; hence, if you don't get qualified for approval to purchase, the initial deposit amounts to a loss.

Keep in mind that there will be other competitors for the same property that suits your interest. The real estate market scene in Barbados is an active one, so there are others with similar interests and needs to yours.

Before hunting for a house or land, make a list of the specific needs and interests you seek in a home. Making a note of all of the preferences you want in a property and your preferred location helps narrow your search.

Before you sign the sale agreement, it is advisable that you thoroughly inspect the property to make sure that there are no unseen complications or damages. One crucial assessment that is often overlooked when buying land is getting test holes done. You can get test holes done on the land to check the subsurface characteristics (soil quality and composition) and ensure that it can support a foundation for a home. This testing helps so to avoid financial loss in case the land isn't right for a home. You can hire a licensed excavator to dig holes and test the soil on-site. The purpose of this test is to guarantee that your home will stand the test of time.

Do not succumb to the temptation of making a lowball offer because sellers tend not to take such seriously. Make your best offer to increase your chances of getting a counteroffer by sellers. In a recently concluded transaction, the buyer paid BDS$20,000 over the asking price to beat the other bids on the property.

Let's not forget about the long-term rental market!

The market for long-term rentals in Barbados is promising because there are so many requests and not enough homes for clients. The local market has always been active for rentals within the range of BDS$3,000 or less per month. Rental properties below BDS$1,000 monthly to BDS$2,000 monthly tops the list of requests. There are several clients on the ground, all you need to do is put your property on the market.

Our sister company BarbadosExpatHomes.com enquiries have increased threefold. Especially since the launch of the 12-Month Barbados Welcome Stamp Visa. This is an announcement to landlords in Barbados that we are in dire need of all types of luxury rentals, apartments and houses included. Beachfront homes top the most requested list to date!

Author: Admin
Tags: News
Published Date: 2021-Apr-29

Who We Are

About Global Estate Agency

If home is indeed where the heart is, then Global Estate Agency has been the brokerage pulse of the Barbados luxury real estate market since 2003.

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Why Choose Us

Global Estate Agency's Junior Sparks is the 2018 Agent of the Year | First-ever recipient of The George Ramsay Memorial Award via the Barbados Estate Agents and Valuers Association. 

Global Estate Agency's Junior Sparks makes international TV debut in the popular US reality television series, HGTV House Hunters International. Season 151, Episode 3 - Seaside Villa vs Crash Pad in Barbados. 

Global Estate Agency's Junior Sparks appears on the popular US reality television series, HGTV House Hunters International for the second time. Season 157, Episode 6 - Excess Baggage in Barbados.   

Global Estate Agency has a stronghold on market tendencies, a well-established business model, and a long list of satisfied clients.

Strong marketing mediums to get your property in front of prospects that reside in Europe, USA, Canada, China and more.

Representing sellers, buyers, landlords and renters since 2003. Real estate brokerage is simply our passion!

Over 30,000 people connected to Global Estate Agency's social media accounts, including Instagram, Facebook, TikTok, Twitter, LinkedIn and more.

Our sister company BarbadosExpatHomes.com focus on only the best rental properties for expats moving to Barbados and already living on island.

New website division launched for sought after properties for sale and rent, marketed exclusively by Barbados real estate mogul Junior Sparks. When you list your property with us exclusively, you get additional international marketing, aerial photography and website client login for 24/7 updates.

Over 300 Barbados property listings in our database and also we have access to over 100 external real estate agents' listings.

Client Reviews

Thank you so much to Junior, Kaleb and Giselle for helping my family transition in this chapter of our lives. Everyone w... read more

Truly Remarkable Team
Junior and his team, Kaleb and Giselle, combined in a helpful, professional manner to guide my husband and I, through th... read more

A Truly Professional Team
We are very impressed with the professionalism of Junior, Giselle, and Kaleb, they each supported us in various stages o... read more

Great Experience
Living overseas, we needed a knowledgeable and trustworthy realtor to help my father sell his long-time home in St. Mich... read more

Mervyn B
Kaleb is a pleasant professional who makes processes easy that some others in this sector can make unnecessarily difficu... read more

Shona
The process of moving is not an easy experience, but it's made a whole lot better when you've got an agent that's kind, ... read more

Brandon & Jehmilah; THANKS KALEB!!!
Working with Kaleb (who also answers to the name Kyle **inside joke) made this house selection/acquisition a breeze. His... read more

Sherri B
Doing anything for the first time can be a bit nerve wracking but trusting Kaleb to find me a my first home to rent was ... read more

S. T.
I worked with Giselle for 8 months and during this time she made the deal so comfortable, easy and understanding, she tr... read more

Antoine Catlin
Kaleb worked very hard to find a place for me that I would be happy in and I am so grateful for that . I wouldn't have f... read more

Carianne
After seeing an ad online for a new apartment, we immediately contacted Kaleb & team to arrange a viewing. All commu... read more

Sam & Jenelle
Junior Sparks came highly recommended by a good friend of mine. He and his team were extremely professional in their app... read more

Monique J
Moving to Barbados from Germany, Junior and his team made my search and my move a smooth process. When having online vis... read more

Pietrick V.
My sister watched an episode of House Hunters International featuring Junior Sparks. My property had been listed with an... read more

Ina & Wendy
I had a great experience with Kaleb Gibbs, Real Estate Agent with Global Estate Agency. Me and my husband recently used ... read more

Headley
A phenomenal team to say the very least. We worked with Global Estate Agency in the past and this time wasn’t any differ... read more

Nicole
Wow, wow and wow. I would certainly like to say a huge thank you to Junior Sparks and Giselle at Global Estate Agency. T... read more

Michael
Having just purchased through Global Estate Agency, it was nice to deal with a very professional and friendly company! ... read more

Paul Bailey
It was an honor to have worked with this professional team at Global Estate Agency Inc. I had listed my property for tw... read more

MTH
Dear Junior at Global Estate Agency Inc. Thank you and Raquel for the fantastic work you have done for me and for every... read more

Frederick A Walcott
From inception Junior made the process so easy. He came highly recommended and working with him has been a pleasure. He ... read more

Deirdre A.
Junior is an amazing individual, and it was absolutely a joy working with him. At the very inception our conversation wa... read more

Margaret I.
Junior from Global Estate Agency is extremely professional and reliable with a sound knowledge of the real estate market... read more

Angela Reifer
I had a great experience dealing with Junior and team. Very professional and responsive, he even gave me a virtual live... read more

Patric
Junior and his team are fantastic. Junior helped us rent our house out a few years ago with a lovely family who were ve... read more

Sandra
Junior was extremely professional and took the time to understand exactly what our f... read more

Mark F
After navigating my way through much turbulence in the world of real estate agents, I stumbled upon Junior and Global Es... read more

Michele
Junior is an absolute gem in the real estate business. He is professional, reliable and delivers results quickly. I had ... read more

Pamela
It has been my pleasure to conduct business with Junior over the past 10 years or so. His professionalism and integrity... read more

Anita Hinds
Junior is a true professional! He understands his clients’ needs and ensures he delivers. I have used Junior for my prop... read more

Karen W
Junior was an absolute pleasure to work with. In no time at all he found great tenants for us. He took the stress out of... read more

Gregg and Nicole

What can i say, y... read more

Chelston B.


As a UK resident with a rented property. I was introduced to Junior, this was back in February 2008. I received total ou... read more

Anita & Joyce
After contacting a few real estate agents with no success, Junior was recommended by a friend. Not being available to m... read more

Heather Blades
I have used Global Estate Agency as my "go to" for my rental property now for nearly 15 years. The team is pro... read more

A.L. Davis
My experience with Junior can only be described as seamless. He was very approachable and was wealth of knowledge. His f... read more

Brian Payne
Junior and his team were fantastic to work with and we couldn't be happier with our new home. Thank you Junior!!... read more

Scott M
If we had to use one word to describe our experience with Junior, it would be PHENOMENAL. We are currently living overse... read more

Terri-Anne and Shane
When my wife and I decided we were going to relocate to Barbados with our family we knew that we would need someone that... read more

Alexei & Ria
Junior can be described in one word....AMAZING! I have had the immense good fortune to know this exceptional human being... read more

Cheryll-Ann W

Junior is professional and results oriented. His personality makes him appr... read more

Winifred H.


I relocated to Barbados in early 2020. Junior was referred to me by a good friend who said of my need for a real estate ... read more

SOG
From the time I decided to look for a new home, Junior's website was my first go-to-destination. I was not disappointed.... read more

Alicia N.
Very easy to find the appropriate house and close the deal with Junior involved. He is always open and happy to help his... read more

Francisco Velez
What Junior doesn’t know about Real estate you could write on the back of a stamp .He is a wealth of knowledge , and I b... read more

Tracy
If there ever was a person who has genuine passion for what they do it's Junior. I have known Junior for years and when ... read more

Edwyn W
I have been lucky to have Junior's real estate assistance for over a decade. He has found for me several rental properti... read more

Claudio M
Global Finding a tenant in this COVID-19 period through Global Estate Agency was the key success factor for me, being... read more

Tony J
Junior has diverse knowledge of the Real Estate climate in Barbados. His professional approach to property consultatio... read more

Sonia Ishmael
Professional, enthusiastic, achieves results... read more

Marlene Johnson
I would recommend anyone looking for a house in Barbados to use Junior.... Always on the end of the phone and always a... read more

Andrew Newman
Junior was a true professional to work with, answering all queries promptly and co-ordinating everything in a timely a... read more

Robin Belle
Thanks to Mr. Sparks, my relocation to Barbados was made easy!

He is a true professional who takes the t... read more

Wenise Davis
Having lived and worked throughout the English-speaking Caribbean, I ended up spending alot of time with real estate a... read more

Joseph P. Herde

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