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Barbados rental market almost to capacity for Cricket World Cup

Barbados is host to the International Cricket Council World Cup 2007 one of the world’s largest and most prestigious sporting events. The event which takes place every four years begins on March 13th at Sabina Park, Jamaica and ends with the final on April 28th at Kensington Oval, Barbados. Barbados is being used by cricket fans as a base for the event with matches taking place over 8 Caribbean Islands. This has resulted in unprecedented demand for property in Barbados both in rental and sales. Barbados is almost now at capacity with limited rental property available.

Cruise ship and homes for rent

The island has used cruise ship accommodation to meet the demand for property in Barbados; however it is reported by Caribbeannews.com that eighty percent of the cabins on the cruise ship have either been sold or pledged to be sold. Bajans have been encouraged to rent out their own homes in a bid to accommodate the world’s cricket fans.

Tourism Minister, Noel Lynch who gave that update , has also projected that the accommodation home-stay programme, which saw $1.5 million being approved to construct or renovate 70 additional rooms in homes across the island, will provide a total of 200 rooms for the cricketing event.

He said this is in addition to rooms provided through informal home accommodation, which has existed for a long time in Barbados.

"It is difficult to put your hand on the number of people who have home accommodation, but from our own informal research, we think that there are about 500 rooms in Barbados that are already operating in this sector," he said. "Anywhere that is a tourist destination, people do that."

The countdown begins

ICC Cricket World Cup 2007 Venue Development Director, Donald Lockerbie, has reminded everyone working on the tournament that – despite the countdown to the Opening Ceremony on March 11 they have only to March 2nd when the 16 Participating Nations arrive in the Caribbean.

About the Cricket World Cup 2007

ICC Cricket World Cup 2007 will see 16 teams competing over a day period.

The tournament is divided into four stages, with matches taking place across

Eight participating countries, and will officially begin with an Opening Ceremony to be held in a newly built stadium in Trelawny, Jamaica.The countries hosting the cricket events are Antigua, Barbados, Grenada, Guyana, Jamaica, St Kitts, Saint Lucia & Trinidad

Barbados property

CEO Nicholas Marr of overseas property web site homesgofast.com ' Barbados has always been an attractive place to buy property in the Caribbean events such as the Cricket World cup only add to the islands desirability as a place to buy a second home for retirement holiday or investment. The island has been regarded by many as too expensive compared to other Caribbean islands however there are off plan developments that offer the property investors opportunities to own a property on the island.

Property in Barbados

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