House prices ‘to take further hit’
BARBADIANS CAN EXPECT house prices to drop by at least ten per cent in the next year or so, a well-known estate agent has said.
Julie Dash of Hannah Properties was responding to a survey by an Australian removals company which put Barbados second in a list of least affordable places in the world to buy a house.
Called The World’s Most (Un)Affordable Places to Live, the study by Assured Removalist combined recent worldwide data on average annual salary, income tax and average house prices in order to measure house affordability and found that the property market in Barbados was overpriced.
Barbados was quoted at a house price to income ratio of 133.77 behind only the Pacific island nation of Papua New Guinea. (MB)
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