| 1. |
Many people
choose to rent or lease property in Antigua
before making the final decision. Even in our
small island, the location is an important
factor. Golfers like being close to Cedar Valley
Golf Club or Jolly Harbour. Sailors choose the
Falmouth, English Harbour or Jolly Harbour areas. Those
engaged in the growing international business and
banking sector often choose to be closer to St.
John’s and the airport. |
| 2. |
Long-term rentals
generally run between 0.6 % to 1 % of the value
of the property per month. A nice house with pool
normally starts at US$2,500 per month, while a
tasteful three-bedroom home in a desirable area
may rent for US$1,200 to US$2,200 per month. |
| 3. |
As a rule, only
developers are given permission to purchase land
in excess of one acre but there have been some
exceptions made. It is important to note that
non-citizens require a Licence granted by the
Government to purchase a specific property. This
Licence will cost five percent of the value of
the property. |
| 4. |
There is
financing available in Antigua through the banks.
Generally investors are encouraged to pay cash as
mortgaging is expensive. |
| 5. |
The buyer pays a
2.5 % Government transfer fee, while the seller
pays 7.5 %. Legal costs range from 1 % to 2 %. |
| 6. |
There is good
demand for vacation rental property with
beachfront or pool. It is very important that all
of the bedrooms have en-suite bathrooms and are
more or less equal since generally the guests
will have friends sharing the accommodation with
them. |
| 7. |
It is always a
very good idea to use reputable real estate
agents and lawyers in the acquisition or lease of
property. |
