About Us
Just Real Estate
Affordable Barbados Real Estate
Our Mission
Just Real Estate is a registered real estate company in Barbados. We offer personalised service to our clients. Our aim is to provide the easiest and most efficient service for our clients both locally and internationally. We are in the business of providing the best value for all of all our services. Just Real Estate has been advising on selling and renting property for over 15 years, whether you are planning to sell, rent or are undecided, we can help. Our team of experienced sales advisors can guide you through your property journey and ensure you find the right home for your requirements.Our Expertise
Guide to buying property in BarbadosAs a non-resident, the funds required for buying the property have to come from external (non-Barbadian) sources. This means bringing foreign currency into the country and to do that there are some basic procedures you’ll need to follow. To ensure funds are available in time, it is best to arrange this early to avoid delays in completion. Land and property are available without restrictions to non-nationals. Vendors are liable for the property transfer tax which is charged at the rate of 10% of the purchase price. If you choose to bring the entire amount of the purchase price into Barbados this amount must be registered with the Central Bank of Barbados.
Buying property in Barbados usually involves the following steps:
1. Begin your property search.
2. Find your property and make an offer.
3. Once you have made an offer on a property and the offer has been accepted, you will need to engage a Barbadian attorney toconduct a title search.
4. The seller’s attorney will prepare the contract.
5. 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.
6. There can be an exception to this for off-plan developments where payment is made in stages during the property’s construction.
7. 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.
8. You will typically be required to make payment of the remaining 90% within 3 to 6 months upon conveyance of title of the
property.
Costs Incurred By The Purchaser
There is no Property Transfer Tax for buyers.
Buyers Legal Fees – Approx. 2 – 2.5% of the purchase price (plus 17.5% VAT).
1% stamp duty
There is no Capital Gains Tax in Barbados. Investors are not charged for the appreciation in the value of their property.
Disclaimer
All information contained on this website is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal notice. Just Real Estate believes all information to be correct but assumes no legal responsibility for accuracy.
