Despite gloomy economic conditions affecting property sales elsewhere in the world, St Lucia has had a very buoyant year for property sales…
The Landings, St Lucia, a private yacht development near Rodney Bay, has experienced its most successful sales year to date.
The development has just released phase three residences for sale, following the successful sell out of phases one and two. Approximately 65 per cent of sales have been from the UK and Irish markets.
St Lucia has recently been placed in the top 30 countries to invest in by The World Bank, ahead of Barbados and Antigua.
The rental market is year round and average capital appreciation is anywhere from 8 to 20 per cent.
The north of the island sees higher rental yield and growth, partly due to the beautiful beaches, leisure and nightlife amenities and planned developments such as the super yacht marina in Rodney Bay, which is already underway.
Tourist numbers and figures from St Lucia Tourist Board show an increase of 1o per cent in May 2008 compared to May 2007.
Arrivals from the UK also increased by 9.6 per cent in the first five months of 2008, hitting 39,872, as opposed to 36,391 in 2007.
Oliver Gobat, Sales Director at The Landings said, "St Lucia is proving a popular place for property investors since the UK and US real estate markets have weakened and the equity markets have become less attractive. The Caribbean, in particular St Lucia, has the ideal conditions in which to invest.
"Property is still relatively well priced, and as the infrastructure continues its improvement with the huge redevelopment of the Rodney Bay Marina, and the prime sites get developed, there will be more and more demand for the key locations. Prices are expected to continue to increase strongly over the next five to 10 years," added Mr Gobat.
Spanning 19 acres and nearly 800 feet of the island's most stunning beachfront, The Landings guarantees water views from every residence. Built in a traditional Caribbean architectural style, there is a choice of one bedroom residences (1319 sq. ft), two bedroom (1850 sq. ft), three bedroom 2638 sq. ft, three bedroom grand residences (3390 sq. f), and four bedroom duplex's (3700 sq. ft).
Apartment and balcony sizes are generous with many properties having balconies at the front and rear of the property for alfresco dining and enjoying sunset cocktails. All are finished in high quality materials such as stainless steel, exotic wood, imported tiles and stone. Air conditioning is fitted as standard throughout.
As The Landings is being built on reclaimed land, it offers a rare opportunity to buy a freehold Caribbean beachfront property. The Queens Chain regulation, that states all land within 20 metres from the shoreline is owned by the government and can only be leased, does not apply.
The Landings has been fully operational since its opening in December 2007 which was conducted by the Prime Minister of St Lucia, the Honourable Stephenson King. In March 2008 a 7000 sq. foot spa and fitness gallery opened to owners and guests, and features indigenous signature treatments, hydrotherapy terraces and a spa menu for younger visitors.
Prices range from £299,390 to £1.3 million.