Bouncing back in style from the global recession, over the course of the past couple of years, The Caribbean property market has been enjoying somewhat of a Renaissance. Attracting more than its fair share of ultra high net worth investors looking to secure their next ubiquitous 'place in the sun', St Lucia's unique brand of low-key luxury is particularly in favour with the high-end investors. |
Less developed than some of its island neighbours, investing in property in St Lucia offers access to a 5-star luxury lifestyle without the ostentation of some of the other uber-wealthy enclaves like St Barts, for instance.
The Appeal of Investing in Luxury Property
While the island's luxury lifestyle, natural beauty, and potential for capital growth are no doubt prime markers for high-end investors, there are plenty other deal-sweeteners on offer as well, including waivers on stamp duty and inheritance tax on certain deals.
Added to this, the St Lucian government has recently instigated a programme where anyone with a net worth of over US$3 million can apply to become a citizen, with all the attached fiscal benefits that affords.
What the Super Rich are Buying
St Lucia may not be as dense with billionaires per capita as some of other Caribbean islands (although it's in the top four), but it certainly has no shortage of suitable properties to tempt them to part with a few cool millions.
For those with US$16 million to drop on their Caribbean dream, the Glenconner Beach Residences might just do the job – although they'll have to wait a few months for completion (due in 2016). Set on absolute white-sand beachfront with views out to the Pitons, the four properties (one at nearly 10,000sq ft) are part of the famous Sugar Beach Resort. Investors looking to justify a return can expect to pull in a rental yield of up to US$15,000 a night in peak season when they're not in residence themselves.
For up to US$3.75 million, a villa or penthouse in The Landings, up in the stunning north of the island at Rodney Bay, is positively bargain priced in comparison to Glenconnor Beach, and with the added benefit of somewhere to berth the super yacht! This ultra luxury 5-star resort has its own private marina, and the unique opportunity to purchase freehold beachfront property in St Lucia offers a multi-faceted investment with a high degree of flexibility and capital growth.
For around US$4 million, the spectacular Tuscan-style Villa Atlantis is a tempting prospect set within the prestigious Cap Estate. Situated on three acres of land high on a cliff, with sweeping views over the east and west coasts, Villa Atlantis looks just like the kind of 'home from home' a wealthy European mogul could be looking for.
The St Lucian property market is well and truly on the rebound, but right now it is still most definitely a buyer's market, with sales up by around 20% in the past 18 months. While the global recession put the brakes on investment property in St Lucia for a time, over the past couple of years it's well and truly become front and centre on the radar of the savvy super-rich once again. And who can blame them?
Adam Gobat is a renowned expert on the Caribbean, with a passion for its culture, history, people and places. His in-depth local knowledge and wealth of experience in luxury property in St Lucia are key to the marketing and sales of the luxury villas and penthouses in The Landings, a unique freehold opportunity for beachfront property in the Caribbean.
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