It’s a side of the island few Bajans ever dream of, far less see and experience.
It’s the quintessence of living in the “lap of luxury” and it’s on a tiny portion of the island’s 166 square miles.
But that’s only a small part of the story. That piece of Barbados generates considerable positive international media attention, provides jobs for hundreds, attracts millions in foreign exchange, and supports large businesses and small entrepreneurs alike.
It’s Barbados’ villa market with an array of mansions, villas and condos, some of which are valued at more than $50 million and owned by some of the richest people in Europe and North America.
English premier league football star Wayne Rooney, Sir Cliff Richards and former English cricketers Andrew Flintoff, Michael Vaughan and Marcus Trescothick, Isle of Man billionaire business tycoon John Morphet, former world boxing champion Joe Calzaghe, plus golfers Ian Woosman and Lee Westwood are all owners.
The Wall Street Journal ran a video cover story on its website last month about a large condo in Barbados that was on the market in the United States for the equivalent of BDS$50 million.
Some of the properties are earning their owners hefty rents that can run as high as €4 000 (BDS$10 500) a night or as low as the bargain-basement €925 (BDS$2 400), according to the Irish Times newspaper.
Renting out the mansions, villas, and other homes – some of which have private chefs, four to six bedrooms, swimming pools and Egyptian cotton sheets – was one way of helping owners reduce their costs.
“Even the rich have to make their holiday villas pay these days, which is why Wayne and Coleen Rooney invite you to stay in their villa in Barbados,” wrote Marie-Claire Digby in the Irish Times after spending at least a night in the luxurious setting.
Paul Altman, owner of Altman Real Estate which manages many of the properties, explained that the top ten per cent of owners “do not rent”, Rooney being a notable exception.
“The only and best reason some people give for renting is that they like to get the extra money to subsidize the running costs,” he said.
“None of them even make money doing it.
“They have large staffs year-round, they support local businesses, pay National Insurance for their employees, value added tax on the rentals, and the money they give to the island is absolutely amazing.
“The cost of upkeep and maintenance is extremely high and when you factor in the support for small businesses owned by Barbadians and the full overall signature to what our tourism is all about, it tells you how very important the market is for Barbados.”
