The buzz is back in Barbados

It's long been a favored retirement destination for residents of the UK and Europe, and now it seems investors are flocking back to the Barbadian property market.

Despite a lull in property prices since the financial crisis, Cluttons Barbados has reported a 70% increase in sales completed for 2010 on their selection of new luxury developments on the island.

"During an economic downturn or market swing, it is always the exclusive locations that win through first", said Cluttons' Kieran Kelly. "We do expect an increase in property values in the next 12 months, however this still remains an extremely good time for purchasers to negotiate."

The firm has particularly seen an increase in sales at entry level, with properties between US$300,00 – $600,000 doing particularly well. All 45 apartments in its new Weston St James development on the island's west coast, launched last March, have now sold.

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