The Antigua Property Market is Set to Boom in 2022
The property and real estate industry has been placed under severe stress for the past few years. But there have been promising signs emerging, both in Antigua and around the world, that suggest new growth and positive trends. Antigua’s real estate sector struck gold halfway through 2021 when the local Island Living firm entered into a partnership with the world-renowned estate agency Chestertons. Further afield, many agencies are also benefiting from the upward trends when it comes to buying, selling, and leasing property.
Antigua has long been known for its picturesque beaches and balmy weather. These qualities, along with its low crime rate and wide variety of properties, are continuing to attract buyers from all over the world. Real estate developers, both in Antigua and neighboring island Barbuda, have been able to cash in on the “holiday vibe” that characterizes the region. Buyers are spoilt for choice, as the island is home to some of the most luxurious resorts in the world, as well as smaller villas and open land for development.
Mortgages On The Rise
With the demand for property comes an increased demand for mortgages. Current mortgage trends show that buyers are opting to take out larger mortgages rather than pay cash as this provides them with more flexibility. Fixed-rate and adjustable-rate mortgages allow people to own their own homes without having to pay an exorbitant lump sum. Instead, they make regular payments over a length of time, including interest, until their home mortgage has been settled in full with the lender or bank.
For people looking to buy in Antigua, home mortgages can mean the difference between acquiring a run-of-the-mill property and the house of their dreams. This in turn stimulates the economy and brings growth to Antigua’s real estate industry over time.
Antigua For Foreigners
Many of those purchasing property in Antigua are not citizens of the country. Legally, however, foreigners have every right to buy and own real estate – just as much as Antiguans themselves. Buyers from abroad need to apply for an Alien’s Land Holding License, but most people looking for a property are willing to pay that relatively small sum.
Many celebrities own a second home in Antigua: Eric Clapton, Giorgio Armani, Oprah Winfrey, and Richard Branson all have a property on the island nation. After the pressures over the past two years, it is predicted that even more people – including the ultra-rich and famous – will be looking for prime real estate in Antigua once again.
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It’s always great for foreign rich people to own homes in Antigua. It does boost the economy. But when is it gonna be possible for lower income workers, especially government workers to be able to own a decent home in their country.
You must be oblivious of what is going on in this country with the housing projects National Housing https://nhdurco.com/ is undertaking in this country. Please visit their website. All this is done for the lower income workers. And on top of that CHAPA has also started their own project for the even less fortunate. Before you make statements such as these please do your research if you mean well, otherwise you must have been doing it with bad intention. But that won’t work. Even Stevie Wonder can see the housing projects that has been going on around the country.
Sideline, you’re taking your politics from the ridiculous to the sublime. How much you get paid to do this…stop it and be objective sometimes. At least once to pretend you’re not playing politics
How can stating facts be playing politics? The thing is I have posted a link of the national housing and you can see the projects they have completed, and the ones still in progress. What more do you want? I guess you want me to take you to see them personally. Well drive to Pointe or drive to Paynters. You will see how happy the new homeowners are with their property. And these are not rich or not even what you would call middle class. But then again by international standards they are middle class. Since they have a house and a car and perhaps a dog as well.
@ From The Sideline – Oblivious you say? I legally joined the local workforce at age 19 in 1994 as a chef trainee, fresh out of Hotel Training Centre, working between Sandals, St. James and Ramada, and when I received my first pay check the first place I went was CHAPA to apply for a piece of the rock.
I was in utter dismay when the individual who was responsible for the department stated, and I swear to God to this day his words still echo in my ears, that I was too young to be interested in purchasing land. I did not let his sentiments dissuade me from my goals, I applied and followed up year in year out then the political gimmick of Land for Youths came around and I was one of those persons who stood up outside for hours at the now Passport Office hoping to fulfill our dreams, still nothing.
I got older, I got wiser and I learned how Antigua works; 1. I wasn’t a young attractive female with “ambition” nor am I a homosexual. 2. It is not what but who you know, because persons my age in 1994 had multiple parcels of land purchased from CHAPA but their surnames and families political affiliation is how they came about by those parcels. I eventually purchased my properties through hard work and perseverance from private sellers, it is 2022 now and I am pretty sure some young black 19 year old male with the stars in his eyes is presently going through what I went through all those years ago. So From the Sideline you are free to posit your opinions on this platform but be aware experiences vary, the game remains the same and only the players change with time.
Sorry to hear you had an unfortunate encounter with a civil servant, against government policy. These things, although they should not happen, in the best system do happen. But if you were determined you would have found a way around that worker. You should have gone to your parliamentary representative and let him/her know the problem you were facing. But when the government makes policy and some public servants feel to either drag their foot or go against that policy, you cannot hold that against the government. You should at least report it. These things happen under any government. I know many young people that got land from CHAPA under the Land for Youth program. Sadly enough it was halted under the UPP in 2004. But it is back on track with this ABLP governmenrt.
National Housing,could not build an out house(latrine) for me.I have seen some of their handy works and it smells of mediocrity.
Please. Tell that to the Indians. Just go to Paynters and watch the houses being built from foundation to finish. Enough steel and solid concrete workmanship. Not the crap that the UPP had built in Follies. And the Utilities are all underground.
That was my initial thought as well. We sit and expect everything to be handed to us. Visit national housing project office (different projects now and upcoming), CHAPA, Bau Panel, etc. There’s lots of them. Get up and make your own moves, make inquires and decide on your own investment.
Three thumbs up. Only lazy set of people wait for everything to be given to them. And like Barbudans want even free houses. Where in the world do people get that? Only in Antigua. In my opinion you are creating a set of lazy people that think they are entitle to every and anything and do not have to work for anything.
Those houses the Barbudans got were not from the Government coffers.Those were built with monies donated for that purpose from international organizations.If it were up to the Gaston Browne’s Administration.Those Barbudans would still be in SHELTERS around Antigua,to this day.
How many low income persons got houses in Dredge Bay,Villa Area?
@BLACK-MAN January 21, 2022 At 7:04 pm
You guys like to re-write history. Who was it that went out to solicit these grants? It was the very same Gaston Browne whom you all called all kinds of names. Were it not for him, the international community would not have donated any homes. Because he went all over the world begging for money for Barbuda. And not to mention the monies the government spent on re-building Barbuda and keeping them safe and for months, fed them and housed them in Antigua. Gratitude is a must, says Koffie in her song. But Barbudans still has to learn that. Very ungrateful people. You really think taxpayers’ monies from other countries should be used to give Barbudans a new house. When many people in those very same countries struggle to even pay their mortgages. Let alone some do not even own their own home. You all better learn to get down on your knees and thank to good Lord above for the things He has done for you.
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