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Anguilla's property market cooling

Anguilla’s real estate market is cooling fast, as the contagious impact of the global crisis spreads.

In early-2009, house prices were declining in Anguilla, according to a report from Scott Hauser of Sotheby's International Realty. Property sales also fell, as foreign demand weakened.

In 2008, construction activity slowed sharply due to financing difficulties faced by developers. Construction of The Flag project at Temenos was stopped in the second half of 2008. In addition, construction of The Residences in Rendezvous Bay, Altamer and Privee, both in Shoal Bay, and of the Fairmont in Forest Bay, have been delayed.

Non-belongers are required to obtain an Alien Land Holding License to purchase property, which can only be up to half an acre. If more land is needed, further permission from the Government of Anguilla is required. A fee of US$1,200 per year is payable for a permit to rent out a property.

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