Ready for Take-Off: New Airport Terminal and Tourism Growth gives Saint Lucia’s Property Market a Boost
An uplift in tourism, a new airport and frequent direct airlift from the UK, US and Canada bodes well for property buyers in Saint Lucia, after a few quiet years and relatively flat real estate prices. The island’s premier marina community, The Landings, reports strong rental returns for owners and believes second home buyers continue to be attracted by the extra security and services of a gated condominium development.
Figures announced in June 2017, by Saint Lucia’s Tourism Board, reveal a 23.4 percent increase in tourist arrivals to the island. To cater for a growing number of holidaymakers, The Saint Lucian Government has now confirmed the construction of a new airport terminal at Hewanorra International Airport (UVF), with work scheduled to begin in April 2018.
Further confidence in the island was enforced by a raft of investments within the hospitality sector this year. Saint Lucia saw the opening of numerous hotels, including the Royalton Saint Lucia (352 rooms), Serenity at Coconut Bay (36 suites) and soon to be completed The Harbour Club (115 rooms). Large-scale operators joined the bandwagon with Sandals planning its fourth property on the island, whilst Fairmont Resorts announced a new 120-room hotel and 40 private residences at Sunset Bay in the south west, and Ritz-Carlton are planning a 200-room hotel near the airport.
Last but not least, AMResorts® announced bringing two of its luxury, all-inclusive resort brands to Saint Lucia, which will be part of the new residential community Canelles Resort and Residences at Honeymoon Beach. Located on 209 acres on the southeast coast of St. Lucia, the project will also feature an 18-hole Nicklaus Design Golf Course and Club upon its completion in 2020.
Michael Green, Sales Director at The Landings, comments: “The new airport terminal and surge in hotel openings are welcome news for property investors. Although most buyers see Saint Lucia as a lifestyle investment, we expect the boost of tourism to have a positive impact on rental returns. The Landings rental pool is showing a strong return for 2017 with revenues covering all home owner fees for the year, and pre-bookings for 2018 indicate for this positive trend to continue.”
“Saint Lucia was very fortunate this hurricane season to not be impacted by the two strongest hurricanes seen in the Atlantic, unlike our Caribbean friends in the north. Although lucky, the island is historically missed by hurricanes. As they cross the Atlantic they start to turn north before they enter the Caribbean, and over the last hundred years Saint Lucia has only really been impacted by the one serious hurricane in 1980, that passed to the South. Since then, we have had two major tropical storms that caused serious damage, but largely due to the huge amount of rainfall and not Hurricane force winds.”
The Landings offers buyers a choice of marina and beachfront residences, known as The Landings – Final Collection. The final phase consists of 14 Beachfront and seven Marina Residences, all generously sized with between 130 and 216 sqm of living space, to give the sense of villa living but with less management and security hassle. All owners can rent a berth to moor a boat in the marina. Prices start from US$575,000 for a 2-bedroom apartment.
Situated in the popular north-west of Saint Lucia, The Landings is only a five minute drive from Rodney Bay Marina; the social hub of the island which has thrived following the $150 million investment from Island Global Yachting. It hosts facilities for sailing enthusiasts as well as an array of cafés, bars, restaurants, shops, activities and entertainment. Additionally, owners at The Landings also have concessional rates at the Sandals Golf and Country Club, which is a 15 minute drive from the resort. The club has recently been purchased by Sandals who announced plans for a major expansion and upgrade of the facility.
Other benefits to owners include 100% waiver on Vendors Tax and Stamp Duty and 100% exemption from Property Tax until 30th Oct 2030.
Amenities at The Landings include a 50-berth marina, three swimming pools, tennis courts, a Spa, a beach club with fully qualified instructors and an equally well-equipped health and fitness centre. There’s a choice of restaurants and bars and full concierge service. There is also optional rental management to maximise returns and provide true lockup and leave convenience.
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