It seems that St Lucia has become top of the list for UK buyers seeking an overseas property and the government has responded to its new visitors by investing in major infrastructure projects.
The St Lucia the government recently announced plans to construct a new terminal with modern amenities at the Hewanorra International airport in Vieux-Fort. New yachting facilities will also serve the increased demand have also been added at Rodney Bay Marina which means that it can now take yachts up to 250 ft. in length on 32 dedicated berths.
Cardea Property Consultants, sales and marketing agents for SugarBeach villas, reported sales of luxury villas totaling $14.5 million in the first six months of 2010. Buyers are particularly interested in the tranquil, lush, tropical island of St Lucia, located in the eastern Caribbean, because it enjoys more benefits than most Caribbean islands when it comes to property investment: The island’s tax regulations ensure no VAT, no Capital Gains, Inheritance or Estate Taxes, and there is just 2% Stamp Duty which is only payable on the land and not if construction has not started.
A particular plus for purchasers is that Sugar Beach villas are being sold on a freehold basis, which is extremely unusual in St Lucia as beachfront land is leasehold. Another great plus is that the developer is not reliant on bank finance to complete the development, giving investors’ peace of mind that the resort will be developed as planned.
The St Lucian Government has also granted buyers at SugarBeach a 15-year holiday on income tax and a 50% waiver on annual property tax for 5 years. Cardea have calculated that buying a similar property in Barbados would be 30-40% more expensive, in comparable terms of beachfront location.
SugarBeach resort offers 41 Private Residences. Each Private Residence is a meticulously appointed spacious home with two to six bedrooms and affords spectacular, ocean and piton views with prices from US$2,400,000 to US$9,000,000.
There are also 64 Rental Pool Villas available for purchase with prices from $700K to $2,100.000. Owners are entitled to use their villa for four weeks each year and will receive a 37.5% share of the total room revenue, which will be pooled and then split between them proportionately according to the purchase price of their villa. www.sugarbeachvillas.com
For real estate enquiries please contact Cardea Property Consultants Ltd on +44 (0)844 9210119
Email [email protected]
