Saint Lucia has been described as “One of the Most Beautiful Islands in the World” by Conde Nast Traveler magazine and is listed by Oprah’s O magazine as “…one of the top five places in the world you simply must visit before you die!”. Saint Lucia is only 238 square miles in area, but within that area are some of the most diverse landscapes to be found on any of the Caribbean islands, ranging from gorgeous golden beaches and jaw-dropping rainforests to breathtaking views of the mountains.
Saint Lucia enjoys year-round sunshine with temperatures rarely exceeding 32 degrees and most areas enjoy the refreshing tropical breezes that regularly cross the island from the Atlantic Ocean in the east to the Caribbean Sea in the west.
Saint Lucia benefits from economic and political stability and seems to have something for everyone. It has already established itself as a paradise for sailing, being one of the hosts of the Atlantic Cruise Rally. It has a growing number of world-class signature golf courses and an extensive music calendar including the world-renowned St. Lucia Jazz Festival, which recently featured the likes of Anita Baker, Michael Bolton, Dionne Warwick, Wycliffe Jean and many others. internationally renowned artists.
It is for the above and many other similar reasons that Saint Lucia has become one of the most sought after locations in the Caribbean for second home owners, investors and those looking to retire in a safe and tropical environment.
In the last two years Saint Lucia has seen a growth in the prices of its properties (houses and land) of between 11-21%, with the highest growth in the coveted north of the island. In particular, there has been an explosion in the growth of waterside luxury apartment, condominium and townhome communities. These include Landings, The Reserve, Allamanda, The Harbor and Seaside. Also for those who prefer their ocean views to include golf course views and gorgeous mountain views, there are condominium developments such as Zara Villas and the soon-to-be-listed prestigious Belle Vue Heights.
Many of these new developments offer a tax-friendly tropical lifestyle for both investors and homeowners with up to 15-year property and income tax exemptions.
Obviously, there is a limit to the availability of top-tier development sites for the type of properties described above. Given the relatively small size of St. Lucia, coupled with the recent boom in these new developments, now is the time to choose the best locations for a home in Paradise.
With the recent credit crunch in the US and Europe, the St. Lucia market is relatively stable. However, there is no doubt that once the credit crunch is over, the island will continue to experience the recent rapid growth in the real estate market, until prices are equivalent to those experienced in neighboring Barbados. It is for this reason, and the dearth of future prime development sites, that now is the time to invest in the island paradise of Saint Lucia.