Landowners may soon be able to leverage their property as equity in a government-backed housing initiative aimed at making homeownership more attainable for citizens, Minister of Housing and Lands Dwight Sutherland has revealed.
The programme, expected to be rolled out between 2025 and 2026, seeks to assist Barbadians who own land but lack the financial means to construct or complete their homes.
“The objective of this government, whether you own land or you don’t own land, the aim is to enfranchise every single Barbadian as it relates to owning their own home,” the minister said.
Under the proposed model, landowners would be able to contribute their land as equity in a government-backed project. The government would then build homes on these plots, and after the land value is utilised as equity, the owners would begin making payments towards the cost of the house.
The minister explained that, in many cases, the cost of the land may significantly offset the cost of the house, making payments more affordable. He also noted that the initiative could assist individuals who started construction on their homes but were unable to complete them due to financial difficulties.
Minister of Housing and Lands
Dwight Sutherland. (FP)
The government would have the option to finish the construction and then either rent the house, sell it to another buyer, or allow the original owner to repurchase it over time.
The idea, according to Sutherland, stemmed from discussions on the derelict and empty lot project, which aims to optimise land use across the island. The initiative, announced in 2022, seeks to use some 25 000-plus derelict properties and empty lots across Barbados to build more housing for citizens.
Sharing details of another initiative involving private lands, Ian Gill, the general manager of the National Housing Corporation (NHC), noted that the agency has launched a pilot project with one house already built and eight individuals expressing interest in securing housing solutions through the programme.
“We have actually constructed one house, and we have eight persons who have come into the planning and design section of the National Housing Corporation and have stated to us that they do require to have a housing solution,” Gill told the House.
General Manager National Housing Corporation Ian Gill. (FP)
He noted that the process is now underway to advance these applications through the relevant planning and development channels, ensuring those individuals can receive houses—either the pre-designed Jura Villa model or a custom design of their choice.
With this initial phase progressing, Gill indicated that the NHC intends to expand the pilot into a broader initiative, providing similar housing solutions across Barbados.
“A lot is happening in the Ministry of Housing, all with a view to enfranchise the ordinary Barbadian,” Sutherland added. He highlighted that these initiatives could provide a pathway to homeownership for many Barbadians struggling with construction costs while also addressing issues related to abandoned or unfinished structures and maximising land use.
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