20/01/2010 London– Great news for Barbados real estate as a luxury designer development at Portico Barbados is completed on time. This is in stark contrast to recent real estate news from Barbados which worried international investors as one prestige development at Four Seasons appeared to be faulting.
The Four Season development made the UK national press owing to the fact that some house hold names had invested in the development including the likes of Andrew Lloyd Webber, Formula One boss Eddie Jordan and Simon Cowell.
The Barbados authorities worried by the damage this could have caused to the Barbados real estate sector deployed its big guns in the form of the Barbados prime minster David Thompson who successfully managed to broker a deal that has put the Four Season property development back on track.
Portico is a multi award winning designer beachfront development in Barbados at Portico is now ready for occupation, apartment on sale start from a cool $4,950,00. The developers were able to finish the project on time in start contract to a neighbouring project at Four season. This development had attracted investment from celebrities including Andrew Lloyd Webber, Formula One boss Eddie Jordan and Simon Cowell Portico is ready for its premier clientele.
Portico Barbados has been awarded the prestigious 2009 Best International Apartment by International Property Awards in association with CNBC Arabia, as well as two five star awards for Best Apartment in the Caribbean and Best Development on the Caribbean.
In 2008, Portico Barbados was also honoured with three prestigious five-star CNBC Americas Property Awards in 2008 for Best Architecture, Best Development and Best Apartment (Penthouse) in the Caribbean; Portico is distinguished by its outstanding finishes.
Property sales transactions on the popular Caribbean island of Barbados are set to pick up in 2010 with one experienced company seeing an 80% increase in serious enquiries in December and January compared with the same time a year ago.
The potential to negotiate a discount and also the fact that sellers are being more realistic about asking prices could see the island’s real estate market blossom this year after the global downturn, according to Cluttons Barbados.
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