While Barbados’ property market continues to expand on the back of foreign investment and high-end development, Housing Minister Chris Gibbs has outlined a multi-pronged strategy to widen access to affordable housing, warning that young and middle-income Barbadians risk being priced out without targeted intervention.

Gibbs told Barbados TODAY that the government would provide a series of strategic interventions to increase the stock of affordable housing, acknowledging the significant hurdles currently facing first-time buyers and middle-income earners.

President of the Barbados Estate Agents and Valuers Association (BEAVA), Chris Hassell, has described the island as a “clear” seller’s market, fuelled by the ongoing legacy of the Welcome Stamp programme, the country’s successful removal from various international financial watchlists, and a stable political and economic situation.