Once you start studying the trends of the property market in St. Lucia, you will realize that it is one of the most interesting markets when it comes to the real estate industry. Although the island is very similar to the neighboring island of Barbados, the prices of the properties are at least 40% to 60% lower on this Caribbean island. The place is stunningly beautiful, and the country offers lucrative tax breaks. But the yields from even the condos are only 2.3% gross at the most. So if you are planning to earn a handsome income from the investment, then the plan is partially feasible.
Reasons for high demand
There has been a notable surge in demand for real estate in St Lucia over the past few years. As the island is easily accessible from every corner of the globe and you have got direct flights to and from Canada and USA too. If you are planning to reside in another country, verifying some factors will be almost mandatory. For instance, you won’t prefer staying at a place where the crime rate is high. St. Lucia has the lowest crime rates. Additionally, you won’t have to pay any VAT, tax on capital gains, inheritance tax, or estate tax.
From the declaration of the Citizenship-by-Investment policy of the Government in 2015, the demand for the properties took a peak. Fortunately, the prices are stable as the owners and builders know that you have to invest a minimum amount if you want to procure citizenship, which is quite high. With the numerous bars and restaurants, the multi-million-pound worth of shopping malls, and a new casino, there will be no dearth of entertainment in the place. The only lacking was the poor number of medical services, which is again not an issue anymore. The St. Lucia health and Wellness retreat has opened its door in mid-November 2011.
If you browse across http://www.mls.lc/, you will notice that most of the investors procure luxury resorts and commercial plots. It is opening up opportunities for a permanent income from the property. The apartments and villas you get at the price for citizenship are some of the fines and at the best possible locations. The view from the rooms is incredible, and you can easily arrange for a great income if you can maintain the house well. You will get citizenship and a worthy investment option too.