{"id":214289,"date":"2024-10-20T10:28:38","date_gmt":"2024-10-20T14:28:38","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=214289"},"modified":"2024-10-20T16:09:13","modified_gmt":"2024-10-20T20:09:13","slug":"antiguans-with-considerable-savings-should-invest-in-luxury-housing-hurst-says","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antiguans-with-considerable-savings-should-invest-in-luxury-housing-hurst-says\/","title":{"rendered":"Antiguans with considerable savings should invest in luxury housing, Hurst says"},"content":{"rendered":"
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Chief of Staff Lionel Max Hurst has urged Antiguans and Barbudans with considerable savings to consider investing in government real estate programs aimed at promoting local ownership in the hospitality and real estate sectors. <\/p>

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Speaking on the strategic land purchases made by former leader V.C. Bird, Hurst highlighted the significance of those investments and the opportunities they continue to create for citizens today.<\/p>\n\n\n\n

Responding to reporters, Hurst pointed out that of the 33,000 acres of land purchased under Bird\u2019s leadership, about two-thirds have been used for housing, while the remaining one-third, totaling over 11,000 acres, is reserved for farming. He emphasized the government’s commitment to preserving agricultural land while encouraging local investment in real estate and hospitality projects, particularly luxury housing developments.<\/p>

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Hurst used the example of the recent groundbreaking ceremony for the Nikki Beach project at Jolly Beach as an illustration of the kind of foreign investment the government welcomes. <\/p>

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However, he also stressed that locals should seize similar opportunities, especially those with significant savings. He pointed out that many Antiguans and Barbudans have demonstrated their purchasing power, citing a recent example where high-priced vehicles, such as trucks and SUVs selling for over $250,000, were quickly bought up by local buyers.<\/p>\n\n\n\n

\u201cThe fact that these vehicles sold out in a matter of months demonstrates that there is significant wealth within the country,\u201d Hurst noted. \u201cThe government believes that those who can afford such purchases should also consider investing in land and luxury housing, which, unlike vehicles, appreciate in value over time.\u201d<\/p>

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Hurst urged citizens to recognize the long-term financial benefits of investing in real estate, particularly in the hospitality sector, as opposed to purchasing assets that depreciate in value. He added that these investments would not only benefit individuals but also contribute to the growth and sustainability of Antigua and Barbuda’s economy.<\/p>\n\n\n\n

\u201cWe believe that many Antiguan and Barbudan families, especially those with considerable savings, will make wise decisions by investing in land and real estate development,\u201d Hurst concluded. \u201cThese investments will help build up the hospitality sector and ensure that locals play a significant role in the country\u2019s economic prosperity.\u201d<\/p>

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Listen to him here:<\/p>

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