St Kitts and Nevis

The property market in the Federation of St Kitts and Nevis remains vigorous, as the number of air flights into the islands increases.

The unspoiled islands of St Kitts and Nevis, with their excellent beaches and attractive landscape, are less expensive than most Caribbean islands, though real estate prices have been increasing since the early-2000s. Price rises slowed during the past two years due to the global crisis, but the upward movement did not halt.

A major draw is the citizenship-by-investment programme, which for a US$350,000 purchase of a unit in a pre-approved real estate development in St. Kitts or Nevis, plus cash payments of US$35,000 for the head of household, and US$15,000 for each additional family member, buys citizenship, the right to live and work in the Federation, visa-free access to the Schengen countries, and a large range of other benefits.

No official data on house price movements in St Kitts and Nevis exists; but reports from property developers and homebuyers suggest continued upward movement.

According to Coldwell Banker St. Kitts and Nevis Realty, property demand in St. Kitts and Nevis remains robust. While some banks have imposed stricter lending criteria, interest in home ownership is still strong, and lending institutions remain committed to financing in the housing market.

In the past four years the pace of real estate development has increased rapidly – with some slowdown more recently - spurred by the arrival of the Marriott Hotel in Frigate Bay, and increased number of air flights into the islands. St. Kitts was ranked 4th on the British Airways’ top 10 holiday destinations for 2011.

“Since the Marriott opened, property sales and prices have increased dramatically,” says local real estate agent Brian Kassab.

The local housing market is expected to stay healthy in 2011, as the economy recovers and strong demand continues.

Foreigners need an Alien Land-Holding License. The islands can also serve as your gateway to a second citizenship.

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