There is no Property Transfer Tax for buyers.
Buyers Legal Fees – Approximately 1.5% of the Purchase Price (plus 17.5% VAT).
Mortgage Down Payment – Usually a minimum of 10%.
Mortgage Repayment Time – Up to 30 Years or until the borrower reaches 65 years of age.
Mortgage Interest Rate – Range from 6% to 9%
Purchase completion can vary from three to six months
There is currently no restrictions on foreign nationals buying or owning property in Barbados.
For further information and free legal advice on purchasing a home in beautiful Barbados.
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