Should You Invest?
St. Lucia is currently experiencing rapid economic growth which
is encouraging tourist interest and high property prices. The
island has a very good rental market especially along the west
coast line and in the city of Castries. To buy property in St.
Lucia foreigners need to obtain a land holding licence.
- Rental yields on the island are moderate.
- St. Lucia is currently experiencing rapid economic growth.
- Passport restrictions have been suspended by the government for
foreigners.
- There is a local bank which will give up to 70% mortgage
finance.
- The government has development plans to encourage more tourists
to the island.
Rental Yields
The costal areas in St. Lucia are the main rental market on the
island with yields of just under 6% for houses along the coastline.
Although rental yields are moderate the island has high rental
income tax which starts at 10% and can rise up to 30% depending on
the tax base.
Price History
With the tourist industry in St. Lucia picking up property
prices are predicted to rise. The World Bank has ranked St. Lucia
as one of the top thirty countries in the world to invest in
property, the only island out of the Caribbean. At the moment the
average price for houses on the island isUS$3,279 per square metre.
Property prices vary depending on the property type, size, location
and whether or not it is on the seafront.
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