Real estate expert Andrew Mallalieu on Wednesday advised authorities to put a pause on the subdivision of land for residential plots.
In his contribution to debate in the Senate on the Barbados Physical Development Plan as amended 2023, the independent senator grounded his call against what he revealed was an “astounding number” of vacant residential properties across the island.
Citing data he received from the Ministry of Housing and the Barbados Revenue Authority, he revealed there were over 30 000 vacant residential properties.
“There are 35 377 vacant residential properties. 15 000 of those are unoccupied built properties and 20 000 are vacant residential lots. I was aware of [the number] vacant residential lots; I was not aware of the unoccupied residential properties.
“But what that means is that 30 per cent of our entire residential stock is either vacant or unoccupied. What does that mean? For me, we don’t need at this point to rush to subdivide any more land, we could take a pause. It is time to be very careful and let us utilise what has already been taken out of agricultural use for residential purposes,” Mallalieu told fellow lawmakers.
Stressing that the unoccupied lots should be filled, he voiced support for measures that make it difficult for property owners to abandon residential properties.
“The taxation on an undeveloped residential lot is much higher percentage-wise than it is on a residential developed lot and that is a good thing. I think we need to continue down that line,” the senator said.
Mallalieu’s proposal was among five recommendations to improve the Physical Development Act.
Among his key concerns was the issue of drainage. Pointing to the impact of heavy rains earlier this week, he urged authorities to better maintain drains and, in particular, suck wells
He appealed to the government to develop a mechanism to incentivise private landowners who have suck wells to maintain them.
“Too many of them get very full very quickly; they overflow and we have flooding. It has a knock-on effect – it causes erosion, our roads get damaged, our properties get damaged, the water goes back to the ocean rather than the aquifer.
“My suggestion previously, and I put it back to the government again, is to find tax incentives that if you have a well that is well maintained and it has a certificate that says it is done so, that you get some benefit, some discount on your tax.
“Foreign direct investment, as well as investment locally is a lot driven by the development, residential, commercial tourism, all of these various things. When you have willing investors, there is employment to be had, there is activity to be had, but there is some bureaucracy – or lack of people to do it; not a lack of will really but a lack of people to do it – and it is held up,” Mallalieu added.
The independent senator also proposed that the plan should tackle parking and beach access and include a fully integrated plan for the South and West Coasts that includes a mechanism that would involve private investors in the process. (SD)
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