Real Estate Project in St Lucia
Barbados is normally regarded as the top destination within the Caribbean for celebrities and property sales. However, the new trend suggests a change as buyers have reduced purchases in Barbados and have broaden their searches to the island of St Lucia, with its great views, friendly bars, mountains and beaches.
There has been an increase in flights to St Lucia and many new developments offer great investment opportunities for buyers. The north of the island has high-end properties and those at the tip have exquisite sea views set in valleys which descend to private beaches. Prices start from £1.5 Million or buyers can choose to venture from resorts for under £500,000.
When purchasing real estate St Lucia buyers must apply for an ‘Alien Landholding License’, costing EC$1,500 plus EC$5000 or EC$10,000 if it covers more than an acre of land when it is granted. Stamp Duty is 2%, while legal fees are around 5% of the purchase price. Non-residents also have a 10% tax when they come to sell. Purchasing a property in St Lucia can take up to four months, as it requires fingerprints, and both character and police references.
Real Estate St Lucia