Anguilla: Price History

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Late developer

A quiet haven for the rich, Anguilla (pop 15,000) has avoided the damage done elsewhere by over-development. It made the decision in the 1980s to develop upper-end tourism, and concentrated on luxury hotels and villas. A British overseas territory, Anguilla consists of five small islands near St Martin.

House prices have been rising rapidly, and 2005 was a bonanza year. “For the first time since I began real estate work on Anguilla in 1990, I don’t have any undeveloped coastal property in inventory,” says Scott Hauser of Sotheby's International Realty. “For the first time in fifteen years of brokerage, I have more seven figure homes in inventory than any other property type.”

2006 has started off slower than last year, but with higher prices. “There are not as many deals as last year,” says Hauser. “But those that are going forward, are going forward at a higher numbers than last year.”

Yet prices are still lower than similar properties in nearby ‘star’ Caribbean islands, such as the BVI or US Virgin Islands. The average house price was around US$3,680 per square metre in October 2005.

The increase in prices is partly the result of celebrity sightings which have made the island ‘chic’. A new extended runway now enables private jets to comfortably land on the island. Institutional investors have committed to large projects, such as the St Regis Temenos golf course, and the Viceroy Anguilla Resort.

Caribbean's envy

Anguilla’s 33 beaches are the envy of many other Caribbean islands. Yet they have not been over-developed.

“This was partly luck, and partly design,” says Hauser. “It began because Anguilla hadn’t yet been discovered, even though its beaches always were wonderful.

"Then it was confirmed by policy. There aren’t any low value / high volume developments, time share projects, large condo projects, or facilities for high capacity cruise ships being encouraged or considered.”

“As far as I can foresee, Anguilla’s real estate position will continue to be (and in fact, increasingly will be) the pride of those currently invested, the envy of those not yet invested, and the bane of those who once considered investing but didn’t do so.”

In 2005 the government declared a moratorium on large-scale foreign-owned tourism projects. “The purpose is to give the infrastructure a chance to catch up after the activity of 2004/5,” says Hauser.

“I think it is wonderful. The last thing we want to see is too much development that results in social problems, for instance, the large-scale importation of labour.” The moratorium is expected to last another 24 months.

Anguilla boasts thirty three white sand beaches with clear blue waters making. A flat island, it is covered with arid scrub, growing out of solid rock, devoid of dramatic scenery. Visitors come to this island not for the scenery, but for its exceptional beaches.

Small and lightly populated, its islanders are easy going. Since the island wasn’t good for farming, its people became seafarers known throughout the Caribbean for boat building and fishing skills.

Anguilla - more data and information

• Anguillan house prices, rents, and letting income - real data!
• How expensive are houses in Anguilla, compared to the rest of Latin Caribbean?
• How much rent can be earned from Anguillan property, compared to the rest of Caribbean?

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