Antigua and Barbuda Property Investment For Sale
"A Caribbean beauty emerging from the shadow of its more renowned neighbours"
Until recently Antigua and Barbuda had been overlooked as a holiday destination compared to other Caribbean islands and as a result it is less developed - a position the government is keen to maintain, so it is unlikely to become overcrowded anytime soon.
Although the government wishes to restrict mass development, Antigua has become increasingly reliant on the tourist industry and it now accounts for around 60% of GDP. There has been extensive investment around areas such as Jolly Harbour and the outstanding golf and yachting facilities on the west coast add to the allure of the island as does the legend that there is a beach for every day of the year. Antigua has a low crime rate, laid-back lifestyle and favourable tax laws as there is no income tax, capital gains tax, inheritance or wealth tax although tax on rental income is high as are purchase transaction costs.
With so much weight behind the tourist industry, economic growth has been seriously hit by the international financial crisis with a steep decline in tourism which has also caused house prices to fall and the economy to contract.