The St Lucian Property Market in the Caribbean

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Wow, two weeks in one of my favourite places: St Lucia in the Caribbean.

When you arrive in St Lucia (if you fly into the south of the island) you have an hour and half journey for the 27 miles which it takes to get from one end of the island to another!

On the way we had some nice suprises in that the main 'road' from south to north is in the process of being upgraded and resurfaced. Looks lovely and more importantly means a few less bones get shaken on the journey!

What was a bit sad though was the number of projects that have clearly been shelved some through bad building process, but also mainly due to a lack of finance.

I was secretly pleased to see this though as I'm dying to find some land and build in St Lucia. I love it there and write better and faster while overlooking the sea than anywhere else in the world! I've never been a great one for wanting to live anywhere but the UK, I love it here and apart from the desire for a bit more sun, can't really understand why so many people want to move away!

So I thought if things are this bad then despite the fall in the pound, perhaps prices have fallen enough for me to be able to secure the land I want. Sadly (selfishly for me), St Lucia's prices have held quite well. Prices haven't really gone up (apart from the exchange rate movements) and you can make 'offers' now rather than stick to the asking price. There are a few bargains fro desperate sellers, but people seem happy to wait a year or more to sell.

We did find a great property and we were dying to see it! It had the perfect amount of land, 13,000 square feet and the sellers were even offering two years guaranteed rental income. One property was already built and on it and as you only need 5,000 square feet per property, we could build our dream property next door, with our plan to sell the other one to help fund our holiday home.

However, as luck would have it, it has sold just two weeks prior! We then went to have a look at a couple more options. The first was The Marquis Estate, for sale off plan at £95,000 and the second a property in a good location just 5 minutes from Rodney Marina, for a similar price of £112,000, but in need of renovation. The latter property had three beds and an open plan kitchen/lounge. 

After much consideration though, we decided that although the built houses are nicely done (apart from the fact they struggle to build a good kitchen!) they aren't quite what we want. So we're waiting for that nice bit of land to turn up at an affordable price, or waiting until we've finished renovating our own home and have enough to pay a bit more for the land and property.

In the meantime we'll still regularly visit St Lucia on a budget of £2k for two weeks. We can't help thinking that versus a cost of o£100k to buy we can still have a lot of holidays there without the hassle of owning!

If you are interested in finding a property in St Lucia, then feel free to call me, Kate, on 0845 838 1763 or email us. The chaps that were very helpful to us were the Property Advice Centre and although you should never rely on one agent, it's worth approaching them first.

 

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