Real Estate

Advice on buying Real Estate Antigua Barbuda Property

You have found a property you wish to purchase in Antigua Barbuda what next?

Buying Property in Antigua Barbuda - Costs of Purchasing Property

Antigua Barbuda Property Buyer's Guide explains the legal fees, legal procedures, real estate purchase taxes and mortgage procedure.

One of the first considerations to make about buying a property in Antigua is 'What is the property's primary purpose?' i.e. residential, tourism rental or a commercial business property.

There are a variety of locations across Antigua Barbuda, so you are sure to find the one, that matches your dream.

Residential

the main expatriate populations on Antigua Barbuda are based in the South East of the island around English Harbour and Falmouth.

In the South West in and around Jolly Harbour.

In the East at Half Moon Bay and Browns Bay.

In the North in Hodges Bay and Cedar Valley and surrounding areas.

As with buying a property anywhere, there is excellent choice in price, style of building and proximity to services.

Location, location, location is the key to your enjoyment and usually to the value of a resale.

Rentals

can be found throughout Antigua Barbuda from studios, apartments to five bedroom executive villas with all the toys and wonderful ocean views, the key consideration is what is your budget - once you know that you should be able to find a property to suit you.

Commercial properties

there are many business opportunities in Antigua for Antiguan locals, ex-patriots and foreign investors, particularly where jobs are created for local people.

The majority of retail outlets have their primary in the busy capital of St. John's, but there are further developments around the island, particularly in Jolly Harbour and English Harbour.

Costs of purchasing a property in Antigua

The costs of acquiring a property in Antigua can vary depending upon where you are purchasing, and the cost of the property. Below we have listed for you the key costs involved and used examples so that you can see the full cost of buying a property here.

General Costs

Non-citizens licence

5% of value (Applicable to non-Antiguans)

Government transfer fees

2.5% of value

Legal costs

Legal costs 1% or more based on the value

For a property costing US$300,000 - this would be a cost of US$25,500.

Exceptions

The Non-citizen's License for Jolly Harbour or some other developments for first time Buyers is 3%.

Acquisition Considerations

Property taxes and rates are very low and based on rental value.

Most property is fee simple or freehold.

Insurance coverage is approx 1.4% of the value insured for hurricane and earthquake coverage. Less when these are excluded. On claims the insured pays the first 2% of the insured value.

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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.

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