Investing in St Lucia Real Estate
Investing in St Lucia Real Estate
St Lucia now represents an excellent real estate investment opportunity, with the island about to implement its Citizenship by Investment programme. It is expected that the St Lucia Citizenship by Investment Program will make the island experience strong growth in both the property (real estate) and tourism sectors. The CIP program allows for many different types of property in St Lucia to be developed under the St Lucia Citizenship by Investment Real Estate option into boutique hotels which will then be reviewed for everything from resort developments, villas and condos, to commercial properties. St Lucia has many undeveloped beachfront properties with lots of fabulous views.
St. Kitts & Nevis, Dominica and Antigua are just a few countries in the Caribbean right now that have taken off with the Citizenship by Investment program before St Lucia. St. Lucia has a combination of unspoiled beauty, golden sand beaches, crystal clear waters and
of course world renowned landmarks: Gros Piton & Petit Piton as well as the only walk-in volcano in the Caribbean. It has always been a mecca for holiday makers in the know looking for a slice of paradise in an exclusive, luxurious environment. Saint Lucia is now attracting a great deal of media attention and overseas investment because the world is now waking up to this fantastic destination called Saint Lucia.
According to the New York Times on May 13 2015, Most buyers come from the United States, Canada and the United Kingdom, “especially where it is cold,” particularly Boston, New York and Toronto come to buy property in St Lucia.
St. Lucia has attracted some of the world’s most renowned luxury hotel brands, including Sugar Beach Viceroy Hotel Resorts in Soufriere, Six Senses Residences Freedom Bay, Harbour Club, a new 118 room hotel next to Dive St. Lucia at Rodney bay Marina, former Smuggler’s Cove hotel, which is being taken over by Sunwing – A Canadian Travel Company, have all spotted St Lucia’s potential and are flocking to the island. St. Lucia over the next few years will boast the opening of several boutique resorts, signature golf courses and luxury marinas in Vieux – Fort and Sooufriere. St Lucia will always retain its un-spoilt charm natural beauty as many parts of the island are protected as world heritage site or national trust.
St Lucia’s government is extremely committed to St Lucia’s continuing growth as a luxury destination, and continues to invest heavily in the island’s infrastructure to support the development taking place and attract overseas investment through the Citizenship by Investment programme which is scheduled to start in 2016.
There have been an increase in airlift coming to the Caribbean island, with daily direct flights to St Lucia from the UK, USA and Canada and great air links with the rest of the region. Some of these airlines are Air Caraibe, Air Antilles Express, American Airlines, Air Canada, Caribbean Airlines, Delta, US Airways, British Airways, LIAT, Virgin Atlantic, WestJet, Jet Blue, Fly Thomas Cook, United Airlines Transat Tours, Condor, and International Charters. The government continues to grant favorable tax incentives to overseas investors, including no rental income derived from property for 15 years.
St. Lucia has a stable currency which is linked to the US dollar at a stable exchange rate of 1 US$ to 2.70 EC$. With a stable government belonging to the British Commonwealth, buying property in St Lucia is a fantastic investment, where you can expect to see not just healthy returns on investment (ROI) but great capital appreciation over the coming years.