Own Land In St Philip? Hey… Thats Too Bad!
If you own a house or land in St. Philip – you just lost a pile of money. Your equity was slashed and burned while you slept.
The Barbados Government announced it will push through rules that will restrict your ability to sell your real estate to foreigners. Bajans are concerned that the country is being sold to foreigners, so the government has decided that large areas of St. Philip will be reserved for Bajan ownership only.
No, it is not law yet – but the announcement of the government’s intent was all it took to devalue your home in St. Philip.
The effect of this is that yesterday you could sell your land to a foreigner for big bucks, but today you can only sell to Bajans – who have much less money to spend than foreigners.
We who live in Christ Church and St. Michael thank you St. Philip homeowners for helping out with the land shortage while allowing us to sell our land for even more money! Its all about supply and demand, and the supply of land available to be sold to foreigners was just reduced so I guess we can ask those Brits for even more money for our Christ Church building lots!
Prime Minister Says “Don’t Even Think About Suing The Government”
Why was this area in St. Philip chosen by the government for restricted real estate sales? Well… they could hardly choose the west coast, could they? Just think if all those multi-millionaires woke up one morning to find that they could only sell their mansions to Bajans. Whaloss!
While we have no special information on land ownership, we suspect that neither the Prime Minister nor Sir Charles Williams have real estate in the “restricted sale” area. If we’re wrong, we’d love to hear it as it would be proof that the political and business elites will be sharing the pain with the equity-robbed St. Philip land owners.
Perhaps one of our DLP insiders who regularly visit BFP can inform us which Members of Parliament own land in the restricted zone. We await this information with excited anticipation…
Apes Hill Building Lot Sales Doing Fine, Thanks!
Meanwhile, COW Williams has announced that he is making a killing at his Apes Hill project. With prime building lots going for upwards of 3.5 million dollars each (yikes!), he’s raking it in. Yes, Sir COW is bragging in the Nation News that he’s sold 150 lots from $400,000 to 3.5 million each.
Do the math. Now you can see why the Government of Barbados isn’t going declare Sir Cow’s project as “restricted sale to Bajans”.
Hmmmm…. I wonder how much money the DLP received from Sir Charles in the last year? Ah… strictly “campaign donations” of course.
What Development Plan?
A big part of the problem faced by Thompson and the DLP Government is that during 15 years of BLP government, major land permission changes were strictly an arbitrary decision by Prime Minister Owen Arthur. Sometimes bag men like David Shorey would purchase land from a farmer who had been unsuccessfully trying to have development approvals passed for a decade. Then the land would be flipped and permissions granted within days.
Only a coincidence, I’m sure!
So we Bajans are naturally wary about another seemingly arbitrary land decision by another Barbados government. Why St. Philip? Why not, for instance, St. Andrew and Apes Hill?
So let’s hear from the DLP… How many Members of Parliament own land in the proposed restricted sale area of St. Philip?
Don’t be shy, Mr. Prime Minister. Let us know the answer.
PM Ready For Legal Fight
Apes Hill lot sales exceed projections