Dream still alive

Barbadians are still showing an interest in purchasing land though they may be doing so at a slower rate than in years past.

 

Director of Saturday’s Real Estate Expo, Derrick Fredrick, shared this with the media while speaking on the sidelines of the second annual event held at the Lloyd Erskine Sandiford Centre.

 

“From what we have seen, from what I have observed [and] from listening to the experts, there is still a lot of land that is available. People will always be buying because there is a cycle in the economy, there are new people leaving school [and] there are new people getting opportunities. People say that land is not selling but land will always be selling. There is always money in the economy, the challenge is where it is because it moves around but essentially, it still is pretty slow right now. There is not the kind of movement from what I have observed [and] some of the leaders in the industry are saying there is still a lot of room for development.”

 

He further said that a number of Barbadians are still pursuing their dream of building and owning their own homes.

 

“Overall things may not be as rosy as we would like them to be but there are still lots of people who are building. If you look around the island you would see homes going up. They may not be going up at the rate that they were going up before but it is most people’s dream to own a home and that dream does not stop and people are continuing to pursue that dream.” 

 

Fredrick, who pointed out that this year’s Expo comprised 18 booths, optimistically stated that “the future is always bright” for the local real estate industry.

 

“I think it is always the time to make an investment. When you look at the trends in terms of land ownership you generally don’t see them going downwards in terms of prices. Sometimes it might be better to invest in land than to invest it in other means in terms of the rate of return that you would get.”(MG)