Real estate in Antigua and Barbuda. Price, examples of properties
hello everyone my name is anatoly lative and i'm the founder of my grownus this is
antiguaone of the countries that sells citizenship by investment there are three ways to buy a passport here the first one is a non-refundable payment to the government or in other words a donation to a government fund the second one is investing in
estateor business so we work pretty much exclusively with as it were second home third home type
propertiesin that regard um the property market tends to be very steady because no one
really needs a property in
antiguait's not like you're living in london and you move out of one house and you buy another house in general they are second third fourth fifth homes so people don't need them so they buy because they want to um and they might want to return an investment but they're not necessarily in a position that they have to make a return on investment because of that fluctuations in the market and the world economy don't have as big an impact on the property
prices they probably affect the sales volume more than they affect the
prices if you've bought something for half a million and you've got three million in the bank the economy might be going down for five years but i say to you do you want to sell it for two hundred thousand you're like no i don't need to i've got lots of money i don't need to sell it i'll hold on to it so in general although after the sort of um...
financial crash the volume of property sold went down so it was difficult to liquidate the actual total
priceof the property didn't
really go up generally it goes up steadily anywhere between two and six percent a year average it depends where you are and it depends on what's going on around you demand for caribbean property is growing quickly and this is first and foremost due to the growing numbers of tourists in the caribbean more international airports have popped up here a new airport opened in
antiguain 2015 and
antiguanow hosts direct flights from london as well as a few hubs in the us canada and germany it's pretty simple to get here and to quote a statistic more than 300 000 tourists came to
antiguain 2018. on top of that that number doesn't include people who came here on cruise liners how does
antiguastand apart from other programs the first difference is that only
antigua's program requires you to fly to the island and spend five days here within the first five years furthermore
antiguais of 2020 the most advantageous program for families of four its only drawback is its relatively long review period at least we're talking about 2018-19 but it's possible that this will change in the near future a hundred thousand probably not a lot um you might be able to get you might be able to if you were
really lucky and you were you might be able to get a a one bedroom somewhere near somewhere but
realistically you want to start...
200. for 200 000 you can get a two bedroom uh thousand square foot property with um dock space on the water it's a single house they're um uh part of a block so you have a block of say six or eight houses um you'll have a thousand square foot in the middle or on the end you're you're on the water so you've got the dock space and it's that new development no well that's in jolly harbour so you can pick those up because the houses in jolly harbor are anywhere between 35 40 years old a lot of them need a bit of work uh because they need a little bit of work some people go well i don't want to put the money in so you can pick them up cheaper so there's some selling for sort of 175 195 u.s and they're good
propertiesthey get they get a good volume of visitors coming in so you can get a good return on investment there's a number of property management companies so we have a property management company but there's a number to choose from so it generally makes it quite easy if you're going to buy at the 200 level to just go in buy a property half a million you're probably looking um generally half a million is more the citizenship by investment or cip as it tends to get called in
antiguaso you're probably looking in a development resort because the the threshold is at four hundred thousand so half a million normally you're looking at more i suppose modern hotel type complexes which will be sort of fully serviced...
fully managed and effectively brand new and you may have guaranteed returns et cetera et cetera and they are purely because of the
pricepoint they're mainly positioned so a lot of options right yeah at that
priceyeah but generally there will be newer builds if you're talking about some great single house luxury one with a great view uh okay so then probably then there's a jump to about there's a there's a a smallish section of
propertiesum which will be on the water uh but not probably not sunset view but they'll probably have a big uh big waterfront uh there won't be beach front but they're about a million you'll get three bedroom maybe three thousand square foot two and a half thousand square foot then if you jump up again you would look at something like sugar ridge uh starting at about 1.8 to let's say three million and it's all managed um if you want it to be so sugar ridge has got fantastic views all across the west coast it's high up on a hill um three four bedrooms three thousand square foot pool deck terrace garden 24 7 security all of that if you then go up again you can then have four or five bedrooms on the beach three and a half to five thousand square foot you've got sunset views on the beach you've got dock to the rear which is quite rare in the caribbean to have beach and dock the same property but jolly harbour has it so yeah that kind of gives you a sort of selection but quite often people sort of...
say well i want i want to be on the beach but i don't want to spend a million which is possible however you might have to build yourself which we do have we do have a a well-structured system for people who do want to build so if you came along and you said i've got a million dollars i
really want to be on the beach and i want to see the sunset we can arrange that although you would have to go through the the build process yeah effectively but what we would do i mean we we have um we work with a number of contractors so they can give you a turnkey service and they would build everything for you and they're good you know it's high quality builds um you know it's like how long does it take probably if it was fast nine months but it depends how organized you are so quite often people design their house and then they want to spend three months changing it moving doors changing things around they want to visit the site they come back so that tends to delay things but if you were gonna build two and a half three thousand square foot you would probably be looking anywhere between nine months and 14 months from beginning to end in general we have a well structured construction industry here you only have to look around in the past 10 years to see what's happened and where we're sitting now you know has has come up in the last 10 years sugar ridge a lot of that's been built in the last 10 years um non-such bay a lot of that's the last 10 years...
tamarind hills a lot of that's last 10 years so there's a lot of contractors and there's a lot of builds going on if you look at the south beach in jolly harbour that used to have vacant plots maybe a third of them or a quarter of them are empty and now i think i think there's one out of 26 26 27 so yeah there's a lot of construction going on if most of the demand three to five years ago was coming from the government donation option by which i mean the process where you pay the whole non-refundable sum to certain government funds nowadays more and more investors are preferring to buy
estateaccording to the citizenship agency on saint kitts more than 75 percent of investors chose to purchase
estatein 2018 and 19. the situation is similar on the other islands and where is this all coming from well it starts from the fact that there is a lot more trust emerging regarding
propertiesbecause there are
estatedevelopers with globally recognized names coming in people with established experience in bringing
propertiesonto the market not just in the caribbean but around the world furthermore global brands have appeared here so you can buy a share in big hotel chains such as hyatt four seasons and so on the demand for
estateis growing in connection to all of this this is the biggest advantage of investing in
estatefirstly you receive an annual return of anywhere from one to five percent depending on the property you choose secondly...
after three five or seven years again depending on the program you can sell the property and the person who buys it after you will have the right to receive citizenship naturally you get to keep your passport this is what we mean when we say a secondary
estatemarket is emerging in the caribbean one that adheres to the standards of passport programs because not all
estateon the island pertains to the passport program only those specific
propertiesthat have been approved by the government do as of today there are about more than 130
propertiesacross the five caribbean islands it depends
really what people are looking at so for example we do get occasionally we get investors coming in to say they want to do a sort of ground up project they want to buy the land and then they want to build now you could probably get a piece of land for anywhere between two and five million and build it up obviously you need to meet the right contractor go through them get the right architects have your plans structured but you could do that for say six million and that will give you the highest uplift obviously you get other people come in and they want to buy an already going concern and they want it built they want operating obviously the uplift is probably going to be less but obviously you've already got revenue coming in so that's a safer bet but um yeah if you want to invest in a business we get uh restauranteurs coming in to look at restaurants and they will they...
don't change hands often but um yeah we have businesses for sale a restaurant might cost you half a million um depending on where it was location wise depending on if it was making money and what about demand of on
estatehere uh demand generally has picked up over the last obviously where the financial crash that pretty much stopped most
propertiesbeing sold i think was a bit of a calm patch it continued to build up um through into about 2016. uh brexit caused a slow down from the uk because obviously there's a lot of ambiguity in the market and when people aren't sure what's happening they tend not to to buy the holidays didn't change which was good so effectively still had lots of uk holiday makers um and but we probably had more of the u.s market proportionally looking at buying property now obviously that's behind us um we are getting a lot of interest so rather oddly since um kind of the uk parliament had a majority and things are moving forward we are getting a lot more inquiries in terms of sales so depending on where you buy because this we have small developments um you might get lucky and find your dream house instantly you might also think well actually they're all sold and i'm not sure what to do there's development going on all the time um the
estatemarket in general is is i would say it's steady and robust it's not it's not booming you know it's it's not somewhere that you you know you'll...
put property on the market and within a week it sells but not like a flat in london but if you compare with another caribbean islands like i don't know sand kids providers oh in in the region in the region um we're probably the strongest behind barbados so barbados has a very strong
estatemarket they've got higher population and they're slightly ahead in terms of what they've sold the big advantage that we have in
antiguais you can get a lot more for your money so if you want to spend half a million you could probably get a third of an acre on the beach facing the sunset and then you could build a house for 500 000. if you try to do that in barbados you're gonna get a shoebox you know five roads back from the water and you're not even gonna be even within you know 500 meters to the beach it's a very very good time to invest in
antiguabecause we've got a good development market in terms we have a good number of contractors the cip has put quite a lot of capital injection into effectively uh upskilling all of those contractors so we've got quite a good skill base but a lot of
antiguais not yet developed so therefore it's not a case if i've got to buy something 500 metres from the sea you can still buy land on the beach whereas if you go to barbados you can't buy land on the beach if you said i want to buy six acres on the beach i can help you out with that no problem if you want to do that in barbados they're just...
going to laugh at you and say well what hotel do you want to buy and you'll be looking at 30 million and i'd be asking for five or six in general there's more variety in terms of
propertiesin that area mainly because it's the west coast because of the number of beaches um in in certain respects if you look on say you can easily see if you look on google earth um on the east side it's very dark blue on on the west side it's all kind of turquoise blue and there's just there's just sand for miles 30 miles out there's just a you know a big bank of sand so there's a lot of beaches as a result there's more hotels as a result more hotels there's more restaurants there's more bars because there's more bars and restaurants there's more development there's more houses so you've got more choice so if you wanted to buy an acre on the seafront on the east coast then yeah i mean you're if you looked at jolly harbor and you said i want to buy an acre in jolly harbour then you're talking three four million an acre if you could even get it you'd more be looking at buying a third of an acre um if you went to the east coast you're looking at you know two hundred thousand an acre um just because obviously that's outside of a development but there's not as many developments on the east coast um because unless you've got a protected bay like non-such plays well protected um but other than that most of...
it's quite rough i hope that this video was useful to you and if you'd like to find out more about