Since starting this website, I have received many inquiries about St Kitts and Nevis real estate. The most frequent questions tend to relate to the best locations for purchasing property in St Kitts and Nevis and the benefits of owning real estate here.
Purchasing property in St Kitts and Nevis is relatively easy, once you've decided on the type of property that fits your lifestyle and budget. For the benefit of site visitors who may be interested in buying property here, I've put together this page as a mini guide to St Kitts and Nevis real estate.
If you are interested in acquiring Caribbean real estate in St Kitts and Nevis, there are a wide variety of options to choose from, including luxury villas and condominiums, gated residential communities, resort communities, residential lots in developments where you can build your dream home, as well as large acreage for development. I know there are many reasons why you may be interested in finding out more about the real estate opportunities here. Whether your interest is to own a Caribbean vacation home, retirement home, or second home in a tropical paradise for investment purposes or to enable you to qualify for economic citizenship, you will be able to find the perfect piece of St Kitts or Nevis real estate to meet your needs.
Some of the top reasons for buying St Kitts and Nevis real estate include:
The St Kitts and Nevis real estate market has remained robust in recent years, thanks in large measure to the vibrancy of the Economic Citizenship Programme / St Kitts and Nevis Citizenship by Investment Programme, as well as the increase in airlift into the islands.
Major developments such as Christophe Harbour, Sundance Ridge, Ocean's Edge Resort, Silver Reef, Kittitian Hill, Sunrise Hill Villas, St. Christopher Club, Manor by the Sea, Vista Villas, Scotch Bonnet, Four Seasons Resort Estates, Nelson’s Springs Beach Villas & Spas, Zenith Nevis, Hamilton Beach Villas & Spa and The Residences at Tamarind Cove are underway with the build out of the various phases of the developments. Meanwhile, several new developments including Park Hyatt St. Kitts, Koi Resort and Residences, Imperial Bay St. Kitts and Turquoise Condominiums have been recently announced.
The general trend in property prices in St. Kitts and Nevis is upward. Property prices vary depending on location, but in the real estate hot spots you can expect to pay anywhere from upwards of US$400,000 for a new condominium / apartment unit or fractional share in a villa to in the millions for luxury villas and oceanfront homes. Considering the excellent prospects for capital gains and the vibrant market for vacation rentals, your investment in St Kitts and Nevis real estate will no doubt generate positive returns in the future. There is also considerable demand in the market for previously owned properties, so if after you have purchased you decide to sell, finding a buyer should not be too difficult. These pre-owned homes also have the advantage of settled communities and mature landscaped gardens.
Both locals (nationals of St Kitts and Nevis) and foreigners (non-nationals) can purchase St Kitts and Nevis real estate. If you are a non-national, you will first need to obtain an Alien Land Holding License before you can purchase real estate here. The legislation governing this process is the Aliens Land Holding Regulation Act Cap. 102. Certain areas (e.g. the Frigate Bay area and a few other designated areas) are exempt from this requirement, so as a non-national you are able to purchase land in Frigate Bay without having to apply for an Alien Land Holding License. Additionally, as a foreign national, if you are purchasing up to a maximum of two acres on the South East Peninsula for residential purposes, you will also be exempt from the provisions of the Aliens Land Holding Regulation Act Cap. 102.
The process of applying for the license can be facilitated through a local attorney, or if you prefer, you can decide to handle the process yourself. The entire application process usually takes about 3 months. The license fee is 10% of the purchase price of the property you intend on acquiring. However, the Alien Land Holding License fee has been waived for some Government approved developments located in the Whitegate Area, Frigate Bay and the South East Peninsula, as well as some developments in Nevis, as part of the package of incentives to encourage investment in these developments.
There are many benefits of owning real estate in St Kitts and Nevis including:
Once you decide that you would like to purchase St Kitts real estate or property in Nevis, the purchase process is fairly straightforward. The steps below summarize the process of purchasing real estate in St Kitts and Nevis.
In what follows, I have outlined the closing costs for St Kitts real estate and Nevis real estate.
At closing, in addition to the balance due on the purchase price of the property, closing costs paid by the buyer include the 10% Alien Land Holding License fee (if applicable), legal fees of around 2% and other fees including Registration Fee (only applicable to land held by Title), Assurance Fund (similar to title insurance and only applicable to land held by Title) and Survey Fees. The breakdown of the fees are as follows:
Alien Land Holding License fee: 10%
Legal fees related to the preparation and registration of a Memorandum of Transfer are calculated according to the following cumulative scale:
Registration Fee: EC$7.20 or approximately US$3.00
Assurance Fund: 0.2%
Survey Fees: EC$500 - $1,000 if an actual survey needs to be undertaken.
Stamp duties on real estate transaction in St. Kitts and Nevis are payable by the seller and are assessed on the market value of the property at the following rates:
If a real estate agent was involved in the sale, the seller is also responsible for paying the commission to the real estate agent.
I can go on and on talking about St Kitts and Nevis real estate. However, now I have shared the basics with you, I am sure that you may have some questions, either about what was written above or how you can obtain more information about specific real estate opportunities in the Federation. If you have questions, please do not hesitate to contact me using the inquiry form below.
Exciting St Kitts tours and island safaris plus holistic body massages on the beach.
An adventurous off road ATV excursion along sugar cane tractor paths and trails in the hills above Old Road.
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