The Caribbean has for long been a Mecca for holidaymakers, and the British and Irish have always had a fascination for the Islands. The vast availability of flights going non-stop into the area from London has created a great opportunity for people to travel there in the same time as it would take to reach Florida. Property ownership in the Caribbean was for a long time viewed as a prerogative for the rich, but there are now openings for smaller investors to purchase their own "Piece of paradise".
St Lucia is located in the Eastern Caribbean, and is one of the countries where buying real estate today is seen as a great investment, and is also very affordable.
Tourism to the Island is surging, and it was recently voted as the "Top Caribbean Destination" by the readers of Travel Weekly. The island still represents the "Original Caribbean", with its friendly people, beautiful sandy beaches, and average yearly temperature of 79 degrees.
There are plenty of golf courses, and scuba diving and snorkeling are popular activities for both residents and tourists alike. St Lucia also boasts the worlds' only drive-in volcano and a tropical rain forest!
Although the Islands' tourism and real estate markets are booming, St Lucia has still managed to retain its original character - the friendly and laidback attitude that was a trademark of the Caribbean 20 years ago. The national language is English, and the laws are based on the British system - making property purchase a simple process.
Bayview - St Lucia is the first development of its kind on the island - offering a mid-range development of 3 bed / 2 bath homes. This 140-unit full service community offers all the amenities you could wish for with a swimming pool, tennis- and squash courts, fitness centre, a clubhouse, and shuttle buses to take you wherever you need to go! There is also a management and letting office on-site, providing peace of mind and at the same time enhancing the rental potential.
Bayview is a hillside development located just minutes from both the Atlantic and Caribbean Ocean, and also next to one of the most challenging golf courses in the country.
The nearby town of Rodney Bay offers shopping, great dining and probably the best nightlife in St Lucia!
Pre-construction prices at Bayview are starting from £150,000 GBP. (€222,000) Prices on the island have been appreciating on average 15-20% per annum over the last few years, and this is a number that is set to soar even higher as the country is getting more exposure to tourism than ever before. Only 4,000 Hotel rooms around the country will have to cater to almost 1 million tourists annually, creating fantastic rental potential. The rental income at Bayview has been expected at €770 per week, and with a 70% occupancy rate. This creates a yearly return on investment of 12.2%, and this is based only on the rental – not to mention the capital appreciation.
There are no taxes on rental income, and there is no need for a license either, making it very easy to realize your investment goals. There are also very favourable tax incentives on the island, and legal advice can easily be obtained thru recommended lawyers, who will guide buyers thru the process.
With low closing costs, booming tourism and the appreciation in price, this really is a great opportunity to get your foot on the ladder in the Caribbean property market.