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Antigua and Barbuda real estate is a hot topic, with everyone from foreign investors to families and retirees turning their sights to the dynamic opportunities presented by the property market. With its luxury offerings, diverse range of prices from affordable to more extravagant, and variety of property types, Antigua and Barbuda has something to meet every need. Add to this the fact that you can obtain citizenship by investing in real estate thanks to its citizenship by investment program, and it’s no surprise that this Caribbean island nation is a popular choice for real estate investment.
In this helpful guide, we embark on a journey to explore the enchanting world of Antigua and Barbuda real estate, delving into everything you need to know before making your investment, from the real estate market and property prices to the transaction costs and the best places to consider buying.
Why invest in Antigua and Barbuda real estate?
Positioned right where the Atlantic Ocean and Caribbean Sea meet, the twin islands of Antigua and Barbuda have long been celebrated for their pristine beaches, crystal-clear waters, tropical climate, and welcoming atmosphere that beckons travelers from across the globe. But there’s more to this idyllic paradise than just sun, sea, and sand. With an ever-growing appeal to investors and those seeking their own slice of Caribbean paradise, the real estate market in Antigua and Barbuda has emerged as a tantalizing prospect for those looking to make their mark on a tropical haven.
There’s no doubt that Antigua and Barbuda is a fantastic location to make a real estate investment for everyone, from retirees and families to investors. In this idyllic Caribbean paradise, you will find:
A politically and economically stable environment
A range of property prices to meet your budget
A variety of properties on offer, from beachfront luxury villas to modern apartments
A favorable tax environment: No income, capital gains, inheritance, or wealth tax
A laidback, safe, and peaceful way of life
A quick and affordable path to citizenship for you and your family members
Antigua and Barbuda Market Overview
The nation’s tourism industry accounts for a significant portion of its GDP, which is no surprise considering it is home to annual international yachting regattas, festivals, and celebrations. Today, the Antigua and Barbuda real estate market is thriving, with great interest coming from international buyers looking to take advantage of its many profitable investment opportunities.
Some of the most exclusive Caribbean properties, Antigua and Barbuda luxury homes are priced as high as $45,000,000. There are also two conceptually similar communities located here: The Mill Reef Club and Jumby Bay. The Mill Reef Club was developed in the 1960s and Jumby Bay in the 1990s. The latter community is considered one of the top private island communities in the world and boasts 50 private estates and a luxury hotel.
Finally, there are a number of resorts and residential developments in the process of being constructed in Antigua to keep up with the demand that has steadily increased since 2018, when the Antigua and Barbuda government reduced the cost of the real estate investment option under the citizenship by investment program. Barbuda, which was greatly impacted by Hurricane Irma in 2017, is also in the process of being rebuilt and reconstructed.
So, not only is the real estate market buoyant thanks to high demand, but steps are also being taken to continue and promote its growth. With all manner of property types on offer, such as waterfront villas, apartments, townhouses, beachfront cottages, plots of land, and commercial properties, you’re sure to find a property to suit your needs in Antigua and Barbuda.
International demand for investment properties
There is a high demand among foreign buyers for real estate in Antigua and Barbuda. A large portion of these buyers are British, followed by other European nationalities, Americans, and Canadians. Thanks to the nation’s thriving tourism sector, which accounts for more than half of its GDP, you will find plenty of investment opportunities that yield profitable returns in the form of rental income.
In addition to these profitable investment opportunities, the Antigua and Barbuda Citizenship by Investment Program allows foreign investors to make a qualifying real estate investment and receive citizenship. The program has been a driving factor in increasing foreign investment in the country.
Where to look for properties
The twin-island nation offers a variety of excellent locations to invest in real estate. Antigua, a low-lying island situated between the Caribbean Sea and the Atlantic Ocean, is a slightly busier destination compared to its smaller sister island of Barbuda. However, both locations offer access to world-class beaches and breathtaking natural landscapes where you can do everything from hiking, diving, and kayaking to exploring historical ruins and taking in the atmosphere at local restaurants and bars.
Popular areas to look for real estate include:
- Dickenson Bay
- English Harbour
- Galley Bay
- Hodges Bay
- Jolly Harbour
- Nonsuch Bay
- Tamarind Hills
- Willoughby Bay
Antigua real estate prices
The cost of real estate in Antigua and Barbuda will vary based on a number of factors, such as the type of property (luxury villa, modern apartment, beachfront family home, etc.), its size, its location, and any extras (such as panoramic views of the ocean or private access to the beach). In 2022, the average cost of prime real estate stood at around $800 per square foot. According to Numbeo, the average cost of purchasing an apartment can range between $4,284 and $9,662 per square meter, depending on whether you look closer to the city center or not.
To give you an idea of what to expect, let’s take a look at some property options:
- A waterfront villa – five bedrooms and a total area of 697 square meters – will cost around $3,650,000.
- A penthouse suite in a boutique hotel – one bedroom and a total area of 93 square meters – can cost about $600,000.
- A beachfront cottage – two bedrooms, a covered portico, and access to resort facilities such as a private beach, private pools, and reception service – will cost around $550,000.
Transaction costs
When purchasing real estate in Antigua and Barbuda, there are transaction costs that you will need to factor into the overall price of the purchase. The list below will give you an idea of what to expect:
- Alien Landholding License fee: Five percent of the value of the property
- Stamp duty: Charged at two different rates for the buyer and seller. The buyer pays around 2.5 percent of the purchase price, while the seller pays 7.5 percent towards this fee.
- Legal fees: Generally speaking, legal fees amount to about two percent of the value of the property.
- Insurance cover against risk: Two percent
- Commission fees: Generally, between five percent and seven percent of the purchase price. Applicable when employing the services of an accountant, attorney, real estate agent, or other professional during the purchasing process.
If you decide to make use of property management services, you will find that this usually amounts to about ten percent of the property’s value.
If you choose to sell the property at some point in the future, you will need to pay the following fees:
- Seven percent stamp duty fee
- Two percent to three percent in legal fees
- Five percent appreciation tax
Property taxes
As a property owner in Antigua and Barbuda, you will be required to pay property tax. Generally speaking, property tax varies from 0.1 percent to 0.5 percent and is charged at the market price point. The rate will depend on the value of the property and its use.
Property tax will also depend on whether you purchase a commercial or residential property or a plot of land. Allowances and tax rebates apply, and you will be charged a relatively low property tax when purchasing land.
If you are not a resident of Antigua and Barbuda and own undeveloped land, you will need to pay a land tax. The rate is between 10 and 20 percent of the value of the land and will depend on the period of time that you have owned the plot. If you are a non-resident who is leasing out properties in Antigua and Barbuda, you will need to pay a tax of 25 percent on the net rental income.
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Purchasing Real Estate: Step-by-Step Guide
It is not a complicated process to purchase real estate in Antigua and Barbuda. While the process is straightforward, it is important to consult with an experienced attorney who has expert local knowledge of the process.
Of course, your first plan of action should be to search through real estate listings to find your ideal property or plot of land. Consulting a real estate agent or buyer’s agent can help speed up the process, as they can provide expert advice tailored to your individual circumstances. Additionally, they have access to exclusive listings that are not always made available to the public, which enables you to choose from a wider selection of options. Once you have chosen the right property, you will follow the steps below:
- Contact an attorney who will assess the property deed and ensure everything is in order. This is an important step, as you do not want to encounter any issues down the line that may complicate the process or prevent you from purchasing the property.
- The attorneys will prepare the sales and purchase agreement.
- Apply for an Alien Landholding License (not applicable if purchasing real estate through the CBI program). The license can take up to five months to be approved.
- While waiting to receive your license, secure your property by paying the seller a ten percent deposit.
- Ask your attorney to register a restriction to prevent others from dealing with the property without your knowledge or consent.
- Once you have received your license, you can make the final payment to the seller, sign the sales and purchase agreement, and become the official new legal owner of the property.
Alien Landholding License
Foreigners wanting to purchase real estate in Antigua and Barbuda must first obtain an Alien Landholding License (ALHL). The license costs about five percent of the value of the property and can take between three and six months for the application process to conclude. This is an important factor to consider when planning your real estate investment.
Obtaining citizenship through real estate investment
The Antigua and Barbuda Citizenship by Investment (CBI) Program is one of five citizenship programs offered in the Caribbean. By making a qualifying real estate investment, you and your family members can obtain citizenship in Antigua and Barbuda and enjoy the benefits of an Antigua passport.
When purchasing real estate through the CBI program, foreign investors are not required to obtain an Alien landholding License, which helps to speed up the entire application process. You are required to invest a minimum of $200,000 in shares of a real estate project that has been approved by the Antigua and Barbuda government. The investment must be held for five years, during which it can be used to generate rental income. Following the five-year holding period, you can resell the investment.
In addition to the qualifying investment, you will also need to pay a processing fee, due diligence fee, and passport fee. These fees may vary depending on the number of dependents included in your application.
CBI purchasing process
When purchasing Antigua and Barbuda real estate through the citizenship by investment program, the process is quite different. This is because regulations require you to go through an Authorized Agent, such as Global Citizen Solutions, who will submit your application on your behalf. You will follow the steps as outlined below:
- Choose from the selection of approved investment projects
- Complete all application forms provided by your Authorized Agent
- The agent will submit your application to the Citizenship by Investment Unit (CIU)
- The CIU will process your application and issue a letter stating it is ‘approved in principle’
- Make your real estate investment and send proof to the CIU
- Take the Oath of Allegiance, become a citizen, and receive your passport
Approved areas
If you make a real estate investment through the nation’s citizenship by investment program, you will be required to choose a real estate project that has been pre-approved by the Antigua and Barbuda government. This is in accordance with Regulation Six of the country’s Citizenship by Investment Act 2013.
As per the Act, the government identifies areas for development and approves specific projects within them that are eligible for investment through the program. Investors can then choose from this selection, which includes eco-resorts, ecological villas, and other high-end tourist accommodations.
Is Antigua and Barbuda right for me?
Antigua and Barbuda, with its pristine beaches, azure waters, and the quintessential Caribbean charm, is more than just a travel destination—it’s an open invitation to invest in paradise. And, as you now know, there is a myriad of compelling reasons to consider this tropical haven for your next real estate investment.
From the island’s citizenship by investment program, which opens doors to a world of opportunity and global mobility, to the allure of luxury beachfront villas, charming historic homes, and contemporary condominiums, Antigua and Barbuda’s real estate market offers something for every discerning investor. The potential for strong returns on investment, combined with a growing tourism sector and political stability, makes this destination a promising choice for those seeking more than just a property purchase— it’s an investment in a lifestyle.
Beyond the tangible advantages, Antigua and Barbuda captivates with its warm, welcoming community and a rich tapestry of culture and traditions. Whether you’re attracted to the laid-back atmosphere of Barbuda or the vibrant bustle of Antigua, these islands provide a unique blend of tranquility and adventure that can help you build exactly the kind of life you desire.
As you contemplate your next real estate venture, consider the unmatched beauty, economic stability, and the sheer potential of Antigua and Barbuda. With every sunset painting the horizon in shades of gold and coral, it’s a testament to the golden opportunity that awaits those who choose to invest in these captivating islands.
So, whether you’re in search of a second home, a profitable investment, or simply an escape to an island paradise in a world filled with uncertainty, Antigua and Barbuda beckons with open arms. Don’t miss the chance to become a part of this vibrant, growing community and invest in Antigua and Barbuda real estate to secure your place in a tropical dream that promises to last a lifetime.
Check out our Ultimate Guide to Antigua and Barbuda Citizenship by Investment
Global Citizen Solutions: Who We Are and How We Can Help You
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Frequently Asked Questions about Antigua and Barbuda Real Estate
Your reason for purchasing Antigua and Barbuda homes will depend on your individual circumstances. You may be in the market for a retirement property on a Caribbean island where you can enjoy your golden years, in search of a second home where you can spend your vacation time, want to purchase an investment property in a stable economy with a thriving tourism industry in order to generate rental income, or a family looking for a relatively affordable and fast investment route to obtaining second citizenship so that you can build a new life in a place with good education opportunities, quality healthcare facilities, and a relaxed lifestyle.
Yes, foreigners are able to purchase and own Antigua and Barbuda homes. The country has no restrictions on foreign real estate or land ownership in an effort to encourage international investment in its economy. To purchase real estate, a foreigner must apply for an Alien Landholding License, which costs five percent of the price of the property.
Yes, purchasing real estate in Antigua and Barbuda can be a good investment opportunity. The country’s real estate market is stable and performs well, offering a diverse range of profitable real estate listings and the opportunity to earn good returns on rentals. While helping diversify your asset portfolio, a qualifying real estate investment through the citizenship by investment program could also earn you citizenship, allowing you to enjoy the benefits of being an Antigua and Barbuda passport holder.
It can be extremely beneficial to employ the services of a real estate agent in your search for Antigua and Barbuda homes. They have specialized and up-to-date knowledge about the local property market and can provide expert advice tailored to your individual circumstances. They also have access to exclusive real estate listings and brand new listings that are not available to the public and provide support during the process of purchasing a property.
The cost of purchasing Antigua and Barbuda homes for sale will vary depending on the type and size of the property, its location, and the amenities included. On average, a property can cost anywhere between $255,000 and $12,000,000.
Yes, Antigua and Barbuda is a good place to buy property in the Caribbean. The market offers profitable investment opportunities and good returns on rental properties, a tropical climate, a good quality of life, and the chance to obtain citizenship through real estate investment.