St. Lucia has been described as “One of the World’s Most Beautiful Islands” 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 first.” you die!”. St. Lucia is only 238 square miles in area, but within that area is some of the most diverse scenery to be found on any of the Caribbean islands, ranging from beautiful golden beaches and amazing rainforests to stunning views of the mountains.
Saint Lucia enjoys year round sunshine with temperatures rarely exceeding 32 degrees and most areas enjoy 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 exclusive world-class golf courses and an extensive music calendar that includes 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 seeking 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 luxury waterside 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 beautiful mountain views, there are condominium developments like Zara Villas and the prestigious Belle Vue Heights, soon to be registered.
Many of these new developments offer a tax-friendly tropical lifestyle for investors and homeowners alike with property and income tax exemptions for up to 15 years.
Obviously, there is a limit to the availability of prime 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 crisis in the US and Europe, the St. Lucian market is relatively stable. However, there is no doubt that once the credit crisis is over, the island will continue to experience 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 St. Lucia.