With SOME Barbadians hard-pressed to get a piece of the rock, young people have been urged to invest in town houses.Speaking yesterday at a real estate marketplace hosted by FirstCaribbean International Bank in Warrens, St Michael, realtor George Ramsay said it might be the best way forward in acquiring a home.“The Barbados Union of Teachers has a town house development in Hothersal Turning, St Michael, in the range between $350 000 and $425 000 for two- and three-bedroom units, and I would suggest to young people, once they can qualify, that this is the way to go rather than buy land at this stage.“Buy something that you can live in right now and . . . down the road as your finances improve, you can then buy the dream home that you always wanted,” Ramsay said, adding that ownership was key at this stage for young people.He spent the day advising several Barbadians that real estate was the logical investment.“The fancy car depreciates in value the minute you drive it on the road. Real estate always, always appreciates in value. Even in this bad market, real estate has not depreciated in value and will not depreciate, especially in Barbados where you have scarce commodity and high demand.“It was proven in the United States. Stocks, bonds, futures, all of those things failed; real estate didn’t fail. The only ones that failed were the ones that were high-risk but here in Barbados, you can rest assured that real estate will always be strong,” he said.Real estate agent Terra Caribbean used the opportunity to advertise its town houses in Kent and land at Adams Castle between Sheraton Park and South Ridge, all in Christ Church.Seaside Reality promoted National Housing Corporation lots at The Villages at Coverley. Housing Concepts are the developers for more than 1 000 houses to be built in the Christ Church district.Developers Vuemont informed Barbadians about their villas and condominiums in Mount Brevitor, St Peter. Operations and administration manager Marva Maycock said the 77 residences featured apartments and homes in modern styles. (MK)
