“The Russians Are Coming”?? Barbadian Villas gain niche in Eastern Europe, yet UK corner Market

A British realtor says Barbados is not only the focus of English buyers but the former Soviet Republic now has a growing market towards the Caribbean. This was revealed when Paul Altman launched his dual-publication seeking to encapsulate differing aspects of the real estate market of Barbados’ rapidly shrinking West Coast.

(L to R) James Burdess of Savills; Paul Altman – creator of Limegrove & Tony Hanton – Managing Director of PCS in Limegrove’s Penthouse suite addressing media recently

Forging a careful alliance with UK realty giant Savills, the local branch which is headed by James Burdess, who’s Director for the Caribbean in addition to Central & South America. James studied this island for the past decade and a half on a personal level, he says while some may feel Barbados has only so many properties, the market is actually rich enough to not only accommodate Britons but Russians who also want to live warmly {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

Burdess told the Media he’s pleased how Savills made it its business to forge an alliance with Altman’s not only in Barbados but Grenada and St Lucia as well, apart from the Apes Hill Villas and other commercial properties.

Mr Altman, whose brainchild and flagship is the Limegrove Mall in the heart of Holetown, explained why his magazine is really two {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

The publication looks at Villas on one side and once you flip the edition then you find Real Estate, rather than handing a potential client many bulky copies just one sleek issue where both options are available.

Tony Hanton, the Director of Sales for Altman’s while Managing Director for PCS (Property Consultancy Services), explained the lure of Bajan Villas is as far back as the 60’s although there was a surge during the 90’s. Mr Hanton basing his facts on figures from the Central Bank showed why Villas are crucial for Barbados’ foreign exchange earning capacity {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

Sales peaked at 400 million in 2010, with 200 million in 2007 with 71% of these purchases made by British or UK-based visitors.

The Bajan Reporter spoke with Burdess after the conference and asked if Moscow did not have a rather tainted image in the Western hemisphere, and the Savills director tossed the concern aside as an outdated premise, in his view – Russian investors are as savvy if not more so than a don from Oxford and their children attend the best in schools and their lifestyles do not derive from ill-gotten gains, and he has to repeatedly alert press to the contrary. If this is not the first time such an allegation has popped up, is there smoke?

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