Vanuatu Real Estate for Sale in Port Vila and Espiritu Santo

A small tropical paradise in the South Pacific Ocean, buying Vanuatu real estate offers unique opportunities for investment and lifestyle enhancement. The Vanuatu property market is prospering, becoming a viable way for investors to accomplish their goals.

Finding Property for Sale in Vanuatu

Numerous Vanuatu real estate companies provide featured listings for buying property on the island. International real estate websites include:

• Island Property
• Properstar
• First National Real Estate
• LJ Hooker

Espiritu Santo: Vanuatu’s largest island, Espiritu Santo, offers opportunities in properties from luxury homes to beachfront resorts. A four-bedroom, five-bathroom waterfront villa on Aore Island can be purchased for VUV 51 million ($450,000).

Efate: Investors can purchase Vanuatu land for sale in Havannah on one of the country’s smaller islands of Efate for VUV 26.1 million ($220,000) for about 2,500 square meters.

Efate: A six-bedroom villa with a pool can be purchased through the LJ Hooker team in the capital city of Port Villa for about VUV 63 million ($530,000).

Why buy Vanuatu real estate?

Buying real estate in Vanuatu island is a fantastic option for expats looking to own a holiday home or second. Likewise, foreign investors will be pleased to hear that the real estate market in Vanuatu is stable,

• One of the few countries where waterfront properties are cheaper than one-bedroom apartments in the city or suburbs
• Lower real estate prices than Australia and the United States
• A favorable tax environment, including no income tax or property tax
• Lucrative opportunities to purchase resorts and other commercial property
• A short flight to key countries and cities, including Brisbane, Sydney, Auckland, Melbourne, New Caledonia, and Fiji

Vanuatu Real Estate Market Overview

Investing in Vanuatu properties is a reliable way to diversify your portfolio and protect your assets. There are various property types in Vanuatu from Properstar or the LJ Hooker brand to pick from, including waterfront land and bungalows, beachfront villas and apartments, and even a private island. Land investments offer exceptional value in the country’s growing tourism industry.

Rental income in Vanuatu is stable due to the country’s tourism sector, which attracts visitors from other Oceanic countries, including Australia and New Zealand. Moreover, capital growth is attainable, mainly if you invest in quality waterfront property.

Vanuatu banks may provide mortgages, offering from 70 to 80 percent on land or house purchases, depending on the buyer’s credit references. Local Vanuatu property management firms provide buyers the option to rent out their properties for rental income easily.

The government facilitates easy foreign ownership for expats retiring in Vanuatu through legislation such as the Strata Titles Act.

Where to buy real estate in Vanuatu?

The best places to buy property in Vanuatu are:

• Port Vila
• Tassiriki
• Elluk
• Harbourfront
• First Lagoon
• Second Lagoon
• Bellevue
• Malapoa

The oceanfront subdivisions near towns like Dream Cove, Angelfish Bay, Paradise Cove, Bukura, Narpow Point, and Havvanh Harbour are also excellent options.

The CBD, Main Street, and the central Harbour Front CBD are good options for Vanuatu real estate investment. Investors look at Efate and Santo islands to buy land in Vanuatu.

Step-by-Step Guide on Buying Real Estate in Vanuatu

1. Find a suitable property, with or without the help of a local Vanuatu real estate estate.
2. Upon agreeing on a price, employ an attorney to draft a Sale and Purchase Agreement and pay the deposit (typically ten percent of the purchase price).
3. The seller applies for a Lessor’s Consent to Transfer or arranges a share transfer.
4. Stamp and registration duties are settled at the local Land Records Department. If you hire a solicitor, you will need to settle the fee.
5. A pre-settlement inspection of the property is conducted, or a search of the title is undertaken by the purchaser’s side if desired.
6. The property sale is closed. The buyer submits all necessary documentation, including three original Transfer of Lease deeds already executed by Vendors, a copy of the Registered Title, the Settlement Statement, etc.

It generally takes about 155 days for Vanuatu property sales, including a new house purchase, to finalized and to complete a property transfer.

Vanuatu real estate investment requirements

To invest in property in Vanuatu as a foreigner, you must be aware of the following factors:

• There is no freehold land in Vanuatu. All investments and privately held land in Vanuatu (apart from custom land and public land) are leaseholds in nature. The leasehold term is usually 50 to 75 years.
• Properties are sold under a full title guarantee, and Vanuatu’s Land Leases Act protects investors.
• You don’t need to be a resident to purchase property in Vanuatu.
• Vanuatu does not require obtaining a foreign buyer or alien landholding license.
• A leasehold-registered interest rate applies to all purchases.

Vanuatu Property Prices

Real estate prices in Vanuatu suits every budget. A modern apartment in Port Vila Harbour ranges from $5,000 to $8,000 per square meter. For villas and coastal properties on islands like Espiritu Santo, you’ll find a variety of options, from a three- to four-bedroom beach houses for $400,000 to luxurious, contemporary villas for over $1 million. You can even find oceanfront house plots of land on Espiritu Santo island between one to two acres for $100,000 to $200,000.

Vanuatu property transaction costs

Always factor in about ten percent of the purchase price to cover Vanuatu property acquisition costs. Stamp duty is two percent of the property price, and five percent is owed to the Ministry of Lands and Natural Resources. You can expect around 2.5 percent to cover miscellaneous fees like borrowing costs and unexpected expenses. If you own property in an urban area, municipal rates to cover refuse collection will set you back around $200 per year.

Vanuatu property taxes

There is no property tax in Vanuatu. The only requirement is to pay a Vanuatu rental income tax of 12.5 percent. You can also expect to pay a property management fee of seven to ten percent on Vanuatu rental properties.

Is it worth it to purchase Vanuatu real estate?

It is worth buying Vanuatu property. Foreigners can build dream homes of all Vanuatu property types at affordable prices in Port Vila and large islands like Espiritu Santo. Vanuatu does not impose personal income tax or capital gains, wealth, or inheritance taxes.

Vanuatu featured listings for beautiful property in popular areas of Port Vila and towns like Luganville on Espiritu Santo offer lucrative opportunities to own vacation rentals. The Vanuatu Permanent Residence Visa allows foreigners to use their properties for personal use easily.

Why use Global Citizen Solutions?

Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.

So, why work with Global Citizen Solutions to obtain Caribbean citizenship?

• Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
• 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
• Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
• An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
• Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.

Frequently Asked Questions about Vanuatu Real Estate Investment