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St. Lucia real estate

Travel & news discussion about St. Lucia

St. Lucia real estate

Postby KarenS » Wed Feb 08, 2006 8:10 am

According to 50Connect.co.uk: "Dreams of a Caribbean property boom are blooming and amongst the latest crop of paradise destinations, homebuyers are wise to keep their eyes open to opportunities in St Lucia which has emerged as a popular destination for second home-owners, retirees and investors.

St Lucia meets all the prerequisites of the Caribbean dream – white-sand beaches, lush tropical vegetation, blissful sunsets and great banana daiquiris. Its historic links with Britain (everyone speaks English and drives on the left) have also made it a favourite with the well-heeled ex-pat property buyer and the odd Hollywood celebrity (Jack Nicholson is currently plunging his hard earned dollar into a new golf development on the island).

Like many Caribbean islands though, St Lucia is in a state of flux. The banana trade, the island’s primary export market for many years, is under serious threat – predominantly from South America – and other sources of sustainable income are now being sought. Tourism is one answer, and the St Lucian government is demonstrating its desire to work with developers aiming to create resorts that promise jobs for locals and do not threaten the island’s environment and wildlife.

Between now and 2007, when St Lucia will play host to the England team during cricket’s World Cup, property prices are expected to rise dramatically. And although entry-level prices are high on exclusive resorts (from around £200,000 for a spacious two-bedroom apartment with all the extras), the rewards for those who can afford to buy into this market could be significant in the short- and medium-term."

...anyone thinking about investing in St. Lucia real estate?
Karen for Caribbean-On-Line.com
KarenS
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