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St Lucia St. Lucia a honeymoon hideaway, is now of a brink of a property boom. St. Lucia has to offer a lot to offer the investors. Once dependent on bananas, St Lucia’s move toward a more diversified economy makes it ripe for the picking. The minister of tourism believes that tourism is the engine of growth. Last year there was 300,000 stay overs, by 2010 they predict it to be between 200,000, - 300,000 double in three years, which they believe is totally achievable. With other Caribbean markets saturated St Lucia has affordable prices and increasing availability of direct flights from the UK, the island has become a draw from developers and golf courses designers. There are currently seven golf courses on the island, with more to come, including a Greg Norman 18 hole championship course. The St. Lucian ministers believe they will take the lead in the Caribbean within four – five years with golfing holidays, taking the title away from neighbouring Bahamas. The golf fits in with the ‘soft adventure’ destination St Lucia is promoting abroad – the traditional honeymoon has been replaced with yachting, scuba diving and family holidays. Minster Chastanet’s mantra is “gourmet, boutique and premium”, hence extensive dredging in Rodney Bay’s mariner – around which much of the island’s development is centred – brings the site closer to accommodating 80ft-plus ‘superyachts’. “St Lucia has to make a choice as to where it wants to go – the choice we have made is premium.” Stated Chastanet. Outside the luxury developments, the infrastructure shows signs of improvement – new roads proved another spin-off of the Cricket World Cup on top of the rebuilt stadium. While expansion continues at the airport to the south of the island, the airstrip to the north is being geared up for private jets, and islanding hopping. Land value has doubled since 2006 with greater growth still to come. Airlines flying there Direct flights from UK to St Lucia: Virgin Atlantic, XL Airways, BMI, Delta Airlines and Caribbean Airlines all fly from London Gatwick. American Airlines flies from London Heathrow. Virgin Atlantic flies from Manchester. British Airways Other carriers to St. Lucia: Delta Airline Caribbean Airlines US Airways American Eagle LIAT Air Canada Tax benefits St Lucia has no capital gains or inheritance taxes. Buy your property in a St. Lucia registered company to avoid high taxes when selling. You in effect sell the shares in the company and not the property avoiding vendor’s tax. |
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