If you’re looking to sell holiday apartments in Antigua and Barbuda, you would be gratified to know that economic recovery in all Caribbean Islands, including Antigua and Barbuda, is in full swing. The Caribbean real estate market has turned a corner in 2015 and we expect things to only get better from this point on.
There has been an increase in real estate enquiries at virtually all real estate offices in Antigua and Barbuda. There is a renewed confidence in the entire Caribbean region and real estate sales are back to how they were before the 2008 crisis.
As Walter Zephirin, a real estate executive based in the Caribbean emphasizes, "Locations across the Caribbean and Central America are benefiting from an upturn in the USA, Canada and the UK, resulting in an increase in visitor arrivals, tourist spend and property sales. A growing pipeline of new projects, significant infrastructure investments and a thawing in relations between the USA and Cuba are also expected to provide an additional boost to the region."
Antigua and Barbuda are popular for their beaches – there are 365 of them. They represent the Caribbean dream at its effervescent best. Both islands have a stable political system, prosperous economy, excellent international access with flights from all major European and North American cities and offer very useful tax benefits to investors.
For this reason, the islands have a very well developed real estate market, with lavish and highly expensive beachfront houses and cozy condos. In fact, some of the most famous personalities in the world - musicians, fashion designers and entrepreneurs – have a second home here. The most prominent foreign investors in Antigua and Barbuda real estate include Eric Clapton and Giorgio Armani.
Real estate in Antigua and Barbuda is expected to receive an even bigger boost this year with a new airport terminal being opened up. Also, what’s attracting foreign investment is the newly introduced Citizenship by Investment program that offers full citizenship in return for an investment in properties in Antigua and Barbuda.
Among the interesting new projects are a $1 billion mega-resort and casino from Chinese group Yida International Investment and hotel worth $250 million in Barbuda to be developed by a group of investors led Hollywood legend Robert De Niro.
Barbuda remains a more attractive destination than Antigua as it is yet not fully unexplored by investors and so has the greatest potential for growth. Barbuda has been compared to a paradise on earth and is renowned for its natural splendour, beautiful beaches and cosmopolitan culture.
Among the best places to invest in Antigua and Barbuda are the Half Moon Bay, Nonsuch Bay and Willoughby Bay situated on Antigua’s south-eastern coast. The Dickenson Bay and Galley Bay which are situated on the north-western coast are also quite popular. Some of the best beachfront properties are on sale at the Fryes Beach and Jolly Harbour, which is a gigantic man-made marina and is perfect for those who like sailing and fishing.
Foreign investors can take advantage of the investment-friendly climate in Antigua and Barbuda and make use of the Citizenship by Investment Program introduced by the government that offers eligible applicants full citizenship in return for an investment of a minimum of $400,000 Antigua real estate. This has certainly increased the interest in Antigua.
To sell holiday apartments in Antigua and Barbuda, you may want to hire the best UK estate agents, who have extensive ties with the foreign investors looking to buy properties in the Caribbean. It is highly probable that you will get a good price for your property given the healthy economic environment in the region.