Driving or sailing around our beautiful island you will see a wide variety of homes and properties of various styles from Georgian to contemporary, the typical West Indian chattel house to large mansions and plantation houses. There is a fair selection of property in residential developments such as Friars Hill, The Peninsula, Cedar Valley Springs or Jolly Harbour. Interested in knowing more about the property market? Read on...

The Time is right

Antigua has a stable growing economy, driven by tourism and by attractive Offshore International Business Corporations legislation. This growth has increased the demand for tourist accommodation and for rental and investment properties. This has continued to drive a consistent building boom of quality housing, tourist accommodation and commercial buildings.

Holiday, Residential and Retirement Homes

By far the highest demand for property is for single-family residences including apartments, condominiums, and detached or semi-detached houses. The highest demand is in the popular north end residential areas of Hodges Bay, Crosbies, Paradise View, Cedar Valley and Friars Hill. Other popular areas include English Harbour, Falmouth and Jolly Harbour, with such areas as St. James’s Club, Emerald Cove, Half Moon and Brown’s Bay, developing at an encouraging rate.

Project developments offering swimming pools, golf, tennis, squash, shopping, bars and restaurants, community services and security attract discriminating buyers and renters who are prepared to pay extra for value-added services and amenities. A development which is representative of the projects in Antigua is Jolly Harbour.

Jolly Harbour is Antigua’s most complete residential community. There are 501 pre-built two-bedroom attached townhouses, most with their own boat slip, some fronting onto the 18-hole golf course. Building plots on the beaches, harbour side, golf course and hillside allow for custom-designed residences. Many new designs have already been built, complementing the Mediterranean style of the main building theme. The Marina is one of the best in the Caribbean with full services in the dockyard and marina. The shopping centre has 30 retail outlets, restaurants, bars, and banking and other community services. Prices for the building lots start at US$300,000 and the two-bedroom villas at US$345,000.

Villa rentals and property management services are offered by most of the developments as well as some real estate agents who look after your investment while you are absent. There is much demand for villas, for one or two weeks, especially for those which offer amenities or are close to beaches, have pools or other features. There is currently a shortage of up scale villas for long and short term accommodation.

Business and Commercial Properties

There are many opportunities in a growing economy; some reserved for locals such as day charter operations. In a tourist and service economy, the Government welcomes investments which provide jobs or stimulate the economy. New business start-ups, especially those associated with the Internet, offshore financial services and the hospitality industry, are welcome. There are attractive fiscal incentives available to developers.

Time Share and Interval Ownership

Interval ownership or time-share is offered at Antigua Village, St. James’s Club and Jolly Harbour. The concept divides the ownership, costs and utilisation over 52 weeks. It also allows for the exchange with over 3,000 resorts worldwide.

Professional Services

There are several real estate agencies offering a full range of professional services on the island. Some specialize by area and others by property type. The lawyers, builders, engineers and architects are well trained and knowledgeable of both European and North American requirements. We strongly recommend that you use the services of professionals.

Acquisition Considerations

1. A license is required by any non-citizen to purchase property. The cost is 5% of the value of the property.

2. Government transfer fees or stamp duties to the buyer is 2.5% and to the seller is 7.5%.

3. Property taxes/rates are very low and based on market value.

4. Legal costs are 1% to 2% depending on the value of the transaction.

5. Most property is fee simple or freehold.

6. No title insurance. Properties are registered at the Land Office.

7. Real estate agent commissions are from 5% to 7%.

8. Property management fees are usually 10/15%.

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