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St Kitts Is Custom-Made For Investment
January 20, 2009Article by Ray Withers
If you had to gift-wrap the perfect Caribbean property deal for UK investors, then you would tie a golden ribbon around the island of St Kitts. Property on St Kitts ticks all the boxes for cash savvy investors. The sun-kissed island is a perfect holiday hideaway with beautiful beaches, rainforests, coconut groves and mountains waiting for discovery. St Kitts is also a tax haven for UK investors and a well-established world-ranking financial centre. St Kitts real estate owners pay no tax on income or property owned for more than a year.
Nestling in the sheltered Leeward Isles, anyone thinking of moving from the gloom of the UK credit crunch for a brighter, cheaper lifestyle should look at some of the luxury resorts like Silver Reef Resort , Frigate Bay. The only way for St Kitts seems to be up. Tourism, economic growth and investment are forecast to outstrip the rest of the Caribbean. If rental yields go the same way, a return of between 8 – 11% is expected on St Kitts property.
Silver Reef Resort is a beautifully designed resort in a superb location 10 minutes’ drive from the island’s capital, Basseterre, and two miles from the airport. Spread over 4.7 acres of gently sloping hillside gardens on the edge of the Royal St. Kitts Golf Course., the resort has spectacular views of both the Caribbean Sea and the Atlantic Ocean. Frigate Bay boasts one of the finest beaches on St Kitts with coral powder sands and clear waters less than a five-minute walk down a pathway from Silver Reef Resort . The beach offers safe swimming, plenty of water sports and a variety of beachfront bars. This select development has 62 villas and apartments set in tropical landscaped gardens with two pools.
Forecasting suggests annual appreciation levels averaging 15% and 70% loan-to-value mortgages are offered to foreign purchasers. With apartments available from £153,000, investors can purchase this St Kitts property with just £46,000 cash plus legal costs. Lying in the northern tropics, the average temperature is 79F, humidity is low, and constant trade winds keep St Kitts cool in the summer. Direct flights connect St Kitts with New York, Miami, London and Canada.