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Mar 11, 2012

Rental incomes in St. Lucia – poor rental yields, at 3.57%


Last Updated: Mar. 11, 2012
ST. LUCIA - Houses COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
200 sq. m. 372,000 1,108 3.57% 1,860 5.54
400 sq. m. 827,200 n.a. n.a. 2,068 n.a.
750 sq. m. 1,362,750 n.a. n.a. 1,817 n.a.
Districts researched:
Most researched properties are located in the districts of Gros Islet, Castries, Micoud and Vieux Fort
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

There has been a modest increase in the average price of houses in St. Lucia this year. Last year’s average house price was US$1,826 per square metre (sq. m.), and this has increased this year by 4%, to US$1,915 per sq. m..

This slight improvement is welcome since in St. Lucia, house prices have been falling since 2009. The most dramatic fall was in 2010, when prices fell for as much as 20%.

Rents have not yet risen with prices. As a result yields are now poor. A 200-sq. m. house earns a rental return of 3.57%, whereas last year, the same house might have earned a rental return of 5.25%.

  





Comments

#1 JANINE KOWALSKI | July 14, 2011

The Real Estate transaction process is very lengthy in St Lucia. Having lived there for many years I know the lawyers are very smart and should be able to shorten the process from contract to closing to make it less stressful for the Sellers and Buyers.

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