As one of the best Caribbean islands, St Lucia is a fantastic place to live and invest. Famous for its beauty, quality of life, tax incentives, and booming real estate market, St Lucia has so much to offer.
Are you interested in buying a property in St Lucia? Whether you are looking through the real estate listings for your dream property, a holiday St Lucia home overlooking the Caribbean sea, commercial properties or even commercial land, this article will take you through the most important points about buying property in this island nation in the Eastern Caribbean.
Top Reasons to Buy St Lucia Real Estate
St Lucia Real Estate Market: History and Overview
A true gem of the Caribbean, St Lucia is an island renowned for its beauty. Home to the mesmerizing Piton mountains, it is blessed with clean long sandy beaches, lush rainforests, refreshing waterfalls, and colorful coral reefs. Well connected to the rest of the world – with direct flights to the US, UK, Canada, and Germany – and a cost of living cheaper than in most of the Caribbean countries as well as a very dynamic real estate market, St Lucia is a fantastic place to buy property.
There are different types of properties for sale in St Lucia. You can find family homes, luxury villas, modern condos, charming bungalows and historical colonial villas for a wide range of prices. Some of the best places to buy property in St Lucia are located in the northwest part of the island – such as Rodney Bay, Marigot Bay, and Castries.
Since 2015, the government has established the St Lucia Citizenship by Investment Program, granting individuals who made a significant investment to the country’s economy a St Lucia passport. It is now possible to obtain St Lucia citizenship by real estate investment.
How to buy St Lucia property for sale?
There are two ways of purchasing real estate in St Lucia:
Purchase property in St Lucia by applying for an Alien Landholding License.
Purchase St Lucia property through the Citizenship by Investment Program. Invest in pre-approved property and get the St Lucia Citizenship.
- Option 1: Invest a minimum of $200,000 in pre-approved high-end branded hotels and resorts
- Option 2: Invest a minimum of $200,000 in a boutique property
Where to buy St Lucia real estate?
Have a look at the real estate listings and you will find St Lucia homes for all tastes. And if you are planning on renting your St Lucia real estate investment, there are plenty of companies offering property management services so you can have your rental income stress free.
At the northernmost point of the island is the Cap estate, a sought-after development close to the largest golf course in Saint Lucia. Very close to Cap estate is Rodney Bay, popular tourist area with dozens of hotels and shops.
On the opposite side of the island is Vieux Fort, which has this name because of an ancient military fort overlooking the waters south of the country.
What are St Lucia property prices?
Depending on the type of property and location, prices vary. Starting from $200,000 you can purchase a beautiful local home. Modern condos and bungalows’ prices are around $300,000, while beachfront villas cost about $1,000,000.
Additionally, you can find properties such as apartments in gated waterfronts development, historic colonial homes, and cottages for a wide range of prices.
Pre-approved government property prices start at $200,000 and are mostly high-end branded hotels and resorts, or boutique properties.
Step-by-Step Guide on How to Get Real Estate for Sale in St Lucia
Requirements for non-nationals
- Look for property and make an offer once you find the right one.
- Once your offer has been accepted, instruct a local attorney to prepare the Deed of Sale, conduct due diligence, and apply for the Alien Landholding License.
- Pay a deposit of 10% which will be held in escrow.
- Pay all required taxes and fees.
- Pay the property price.
St Lucia transaction costs
Below are the buyers’ required fees to purchase St Lucia real estate based on the property value:
- Alien Landholding Licence = depends on the acres
- Stamp duty = 2%
- Legal fees = 0.5% – 2.50%
Cost of an Alien Landholding License:
- Up to 1 acre: $5,000
- 1 acre up to 10 acres: $10,000
- 10 acres up to 20 acres: $20,000
- 20 acres up to 50 acres: $30,000
- 50 acres up to 100 acres: $40,000
- Over 100 acres: $50,000
Is it Worth Getting St Lucia Real Estate?
It is absolutely worth getting St Lucia property. Get the property of your dreams in one of the most beautiful Caribbean islands and benefit from a high quality of life. With very favorable tax exemptions, a low cost of living, and an excellent real estate market, St Lucia is the place to purchase property in the Caribbean. Thanks to the St Lucia Citizenship by Investment Program, buy pre-approved property and obtain the St Lucia passport in no more than three months.
FAQs:
What kind of St Lucia real estate property can I find?
St Lucia real estate property options are various: you can find family homes, luxury villas, modern condos, charming bungalows, apartments, and historic colonial villas for a wide range of prices.
What are the best places to buy property for sale in St Lucia?
Some of the best places to buy property for sale in St Lucia are Rodney Bay, Marigot Bay, and Castries.
As a foreigner can I buy Saint Lucia real estate for sale?
Yes, you can buy Saint Lucia real estate for sale as a foreigner. You will have to apply to an Alien Landholding License in order to buy St Lucia property. You can also apply to the St Lucia Citizenship by Investment Program and purchase pre-approved property in exchange for receiving a St Lucia passport.
How much do I need to invest in real estate to get St Lucia citizenship by investment?
You can receive St Lucia citizenship by investing a minimum of $200,000 in real estate, from a list of pre-approved projects. Alternatively, you can also obtain citizenship by making a donation of at least $100,000 to the country’s National Economic Fund.
Is it possible to have St Lucia dual citizenship?
Yes, dual citizenship is allowed in St Lucia.
What are Caribbean real estate prices like?
Caribbean property prices depend on the country. In St Lucia, prices are comparatively low, with the prices around $1,860 per square meter.
