3 bedroom Penthouse for sale with sea view with Income Potential in Glitter Bay, Holetown, Saint James
This unique penthouse apartment is situated in the first block closest to the beach and has breathtaking views from every angle.
With 3 en-suite bedrooms, each with a private balcony, this great turnkey investment is ideal for someone looking for a second home in Barbados that they can holiday rent to subsidise the annual running costs.
Located just steps from one of the most spectacular beaches on the west coast of Barbados, this superb apartment is being sold fully furnished with all appliances including a washer/dryer.
Glitter Bay offers well maintained communal gardens, 2 communal swimming pools with sun living rooms and umbrellas, beach chairs and umbrellas, 2 flood lit tennis courts, table tennis, 24/7 security and and direct access to The Fairmont Hotel through a side gate in the car park, where you can use their bar and and restaurants.
Just steps away from the beautiful stretch of beach where you can find The Fairmont, The Lonestar, Juju's and and Jumas.
Located just a 7 minute drive away from Holetown where you'll find local bars and restaurants, Limegrove Lifestyle Centre, Boutique shopping, Massy Supermarket and other facilities like banks, post office, library and petrol station.
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This Apartment is located in Glitter Bay in Barbados
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Buying real estate in Barbados
1. Registering with a Barbadian Lawyer and the Central Bank of Barbados.
In order to purchase a property in Barbados you will require a registered Barbadian lawyer, their fees will be around 1.5 to 2% of the purchase price (+15% VAT). The buying process will generally take around 3 months. There are not generally any restrictions on ownership by foreigners, except for a formality that, if you are a non-resident, the Barbados Central bank must you give you permission before you may purchase a property. If you fail to gain this permission your purchase will be void. It is required by the Central Bank of Barbados that all money that is brought into the country must be registered. This can be best be handled by your Barbadian lawyer.
2. Signing the Purchase Agreement and Paying the deposit
Your lawyer will be charged with the conveyance of the title, the recording of the deeds and registering the survey plans with the Land Registry. Before you sign the Purchase Agreement and pay the 10% deposit, they will also check the agreement which will have been drawn up by the vendors lawyers. The Purchase Agreement will then be signed by the vendor and the deposit will be held by the vendor’s lawyers. The deposit will be forfeited if at any point after this you decide not to go through with the purchase.
3. The Conveyance
The register search will be carried out by your by your lawyer in order to establish whether the property or land is free from charges or any encumbrances and to establish the title. The conveyance will be drawn up by the sellers lawyer and will be checked by your lawyer. Once these checks have been made you will sign the conveyance and the balance of the funds will be paid. Once you have signed the conveyance it will go back to the venor’s solicitor to be signed by the vendor. Your part of the sale is now complete, all that is left is for the vendor to pay the stamp duty and to transfer the taxes.
4. General Information on Property Ownership in Barbados
Property can be owned in various ways in Barbados. In the name of an individual, through a trust or other entity, or through a foreign or local company. It is not unusual for non-Barbadians to purchase properties through newly formed offshore companies which are outside Barbados, but are registered to do business in Barbados.