I remember when I was 12 years old. I felt like I was in a holding pattern just waiting until I turned 13 so I could be a teenager. This year The Red Book is in its 12th edition and it feels like the Barbados real estate market may also be in a holding pattern.
Last year we introduced a revised version of The Red Book with a stronger focus on market statistics, insights and commentary. We continue that theme this year with even more robust data. We are very honored to have an article by our Prime Minister on the subject of Education Tourism and this is supported by comments from Lisa Wardell the CEO of Adtalem, the parent company for Ross University School of Medicine.
The “Ross Effect” will be reflected in the 2019 statistics that we will compile and publish next year in our “teenage” edition. I think the holding pattern will have passed and we will have achieved lift off! So while I do not generally make predictions in my introduction, I am breaking with tradition and making some comments right off the bat. The local market for mid-range housing will firm up with improving rents and translate into improving values – read more about this in the detailed articles.
I also believe that the cloud of Brexit will have lifted. As I have written many times, it is uncertainty that is our enemy. Whatever form Brexit takes, businesses and individuals will formulate their plans and make decisions only after they have that certainty.
Again this year the team at Terra has produced some topical articles that readers from various disciplines will find useful. Lisanne Graham the leader of our Advisory Services has made some interesting comments on the clauses found in leases that can impact the value of commercial property. Lessons learned from the devastating 2017 hurricane season have found their way into articles covering both residential and commercial properties.
Holiday makers and owners alike will enjoy the description for The Blue Standard that is being championed by our sister company Blue Sky Luxury. I am very proud that the team at BSL has taken the industry lead to design and implement a formula for evaluating holiday rental properties that all can understand.
Our Sales Manager Rachel Edwards and her team share a number of insights but I particularly like the focus on Speightstown. While the first movers have certainly swooped in, there are still great opportunities for redevelopment. The true effect of the Sandals investment will not be felt for a number of years, but we believe it will be revolutionary for the area. If you are looking for a little gem in the vicinity, you should talk to Rachel and the team soonest!
So without mentioning all that we cover this year, I hope you will read The Red Book cover to cover and keep it on your desk as a reference. I hope you will also agree that it is packed full of useful information that can help you to make decisions about your property investments. As always we really enjoyed putting it together and getting it into circulation. Keep your comments, criticisms and recommendations coming and we will keep improving it each year.