Barbadian Real Estate tycoon dismisses claims of land paucity for local consumers

Barbados continues to have a salable market in real estate for both locals and overseas investors, and according to one of the gurus in this field – the market isn’t depressed merely more difficult to move as prices are still locked at 2007 rates.

This claim was put forward by Paul Altman, noted real estate developer, when the Cave Hill School of Business launched two new Real Estate programmes, introduced in conjunction with the Homburg Institute.

This claim was put forward by Paul Altman, noted real estate developer, when the Cave Hill School of Business launched two new Real Estate programmes, introduced in conjunction with the Homburg Institute.

The Institute is Canadian-based yet maintains a global grasp. The courses Рan Executive Diploma in Real Estate, Project and Construction Management; as well as Executive Diploma in Real Estate Finance and Investment, will begin teaching 14th September 2015.

Altman says the one common thread particular to the entire Caribbean is through investment and buying and selling property is just such an avenue Barbados can still achieve despite the current economic climate.

He went on to show even though there has been a significant drop, that investment continues to be in the hundreds of millions… Eight years ago there was $350 million poured into this country from foreign interests, while only in 2014 this plummeted to $200 million which although lower, still remains a viable avenue to spur Barbados’ fiscal recuperation.

Altman also does not see the necessity to emulate real estate policies as per St Lucia where land is only leased and not sold to foreigners, his main contention is that their legislation has too many loopholes and if an expatriate truly wishes to make a permanent claim, then they will find a method to bypass any restrictions.

Altman also does not see the necessity to emulate real estate policies as per St Lucia where land is only leased and not sold to foreigners, his main contention is that their legislation has too many loopholes and if an expatriate truly wishes to make a permanent claim, then they will find a method to bypass any restrictions.

When pushed by the Barbados Advocate as to if the current market is saturated, Altman countered that Barbadian properties which are earmarked for overseas sales generally have a recycling factor of approximately one decade and therefore certain villas and other similar areas are already being prepared for resale.

The course, according to Dr Justin Robinson, is one which is way overdue for Barbadian curricula at any level. He stated the advantage to this course over others is that by partnering with Homburg provides an immediate international accreditation which gives graduates an edge over other agents who may have similar training but not necessarily the same expertise to draw from.

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