Rental incomes in St. Lucia - poor rental yields, at 3.57%
March 11, 2012
|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.|
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%.