The Caribbean Island Best For Property Investment
Saturday 22nd of October 2011
If you’re looking to buy a holiday home in the Caribbean then you may already have considered the likes of Barbados and Jamaica. However, a leading property expert has also recommended St Lucia as a great place to buy an overseas property investment.
Saint Lucia a great place to buy property
Terry Hobbs, media manager for a leading property website, claimed that the island’s ‘immense beauty’ and ‘wonderful’ climate make it ‘comparable with Barbados in lots of ways’.
In addition, the cost of buying property in St Lucia is often lower than on neighbouring Caribbean islands.
St Lucia is located north west of Barbados and is home to around 175,000 people. The capital, Castries, is situated towards the north west of the island and contains more than one-third of the population. The official language is English; although Kweyol - a French-based Creole - is spoken by 95% of the population.
The volcanic island is more mountainous than many other Caribbean islands, with the highest point being Mount Gimie, at 950 metres (3,120 ft) above sea level. Saint Lucia is also one of the few islands in the world that boasts a drive-in volcano.
Mr Hobbs noted that St Lucia has one of the lowest crime rates in the Caribbean, as well as an active tourist board, which works hard to improve the island’s appeal to overseas visitors.
And, it is possible to fly direct from the Uk to the small isles.
If you are thinking of buying a property in St Lucia, Mr Hobbs explains that individuals will need to apply for an Alien Landholding Licence, which costs 1,500 East Caribbean Dollars (EC$) (£357). Once this has been accepted, you will then pay another fee dependent on the amount of land in question.
Property with less than one acre will owe EC$5,000, while those with more than this will cost EC$10,000.
