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Antigua and Barbuda – Buying Property

Legal Restrictions on Ownership or Sale of Property by Foreign Nationals in Antigua and Barbuda

There are no legal restrictions on foreign ownership or sale of property in Antigua and Barbuda. Foreigners are able to purchase property in the same way as locals and there is no differentiation in the process of buying property between nationals and non-nationals.

Average Property Prices in Antigua and Barbuda

The average property price in Antigua and Barbuda ranges from around US$200,000 to US$1,000,000 or more, depending on the location and type of property. Prices for luxury properties or properties with ocean views can be significantly higher.

Regional Variations in Property

Prices Property prices in Antigua and Barbuda can vary greatly depending on the region. Properties in the capital city of St. John’s and other urban areas tend to be more expensive than those in the rural areas. Properties located near popular tourist areas, such as the beaches, tend to be more expensive.

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Popular Locations for Buying Property in Antigua and Barbuda

Popular locations for buying property in Antigua and Barbuda include the capital city of St. John’s, as well as the coastal areas around Jolly Harbour, English Harbour and Falmouth Harbour. These areas offer a mix of urban and coastal living, with easy access to amenities and outdoor activities.

Upcoming Areas in Antigua and Barbuda

The area around the new international airport in Antigua is becoming a popular place to buy property, with many new developments and projects in the works. This area is known for its natural beauty and potential for tourism growth.

Trends in the Property Market in Antigua and Barbuda

The property market in Antigua and Barbuda has been experiencing steady growth in recent years, driven by increased tourism and foreign investment. The market is expected to continue to grow in the coming years, making it a good time to invest in property in the country.

Investment in Property in Antigua and Barbuda

Buying property in Antigua and Barbuda can be a good investment as the country is a popular tourist destination and the property market is stable. Additionally, the government has implemented various programs to promote foreign investment in real estate, making it an attractive location for investment.

Common Property Types in Antigua and Barbuda

The most common property types in Antigua and Barbuda include apartments, townhouses, and detached houses. There are also many luxury villas and beachfront properties available, as well as rural properties and land for sale.

Typical House Buying Procedure in Antigua and Barbuda

  1. Hire a Real Estate Agent: It is recommended to engage a licensed real estate agent to help in the process of buying a property. They will assist you with the necessary procedures and help you find the right property that meets your requirements.

  2. Property Inspection and Survey: A property inspection is carried out to determine the condition of the property and to identify any potential issues. A building surveyor can also be hired to inspect the property.

  3. Make an Offer: Once you have found a property you would like to purchase, you can make an offer through your real estate agent. The offer should include the price, the closing date, and any other conditions.

  4. Review and Approval of Offer: The offer is reviewed and approved by the seller, and if accepted, the real estate agent will draw up a Purchase Agreement.

  5. Notary: A notary is not required in Antigua and Barbuda.

  6. Exchange of Contracts: The Purchase Agreement is signed by both parties and exchanged between the buyer and the seller. This agreement is legally binding, and the buyer is obligated to purchase the property and the seller is obligated to sell the property.

  7. Closing: The closing takes place on the agreed date, where the buyer pays the remaining balance, and the seller hands over the keys to the property.

Finding a Reputable Lawye When Buying Property in Antigua and Barbuda

It is advisable to engage a lawyer to assist with the process of buying a property. You can find a reputable lawyer by asking for referrals from friends or family, searching online, or contacting the Antigua & Barbuda Bar Association.

Lawyers in Antigua and Barbuda charge different fees for their services. It is recommended to get quotes from different lawyers to compare their fees and services.

Lawyers in Antigua and Barbuda are not required to be members of a particular professional organization. However, the Antigua & Barbuda Bar Association can provide you with information on licensed lawyers in the country.

The Antigua & Barbuda Bar Association’s website is https://antiguabarbudabar.org/.

Pitfalls and Problems in the House Buying Process in Antigua and Barbuda

  1. Property Title Issues: It is important to ensure that the property you are buying has a clear title and that there are no outstanding liens or other legal claims on the property.

  2. Hidden Costs: There may be additional costs associated with buying a property in Antigua and Barbuda, such as stamp duty, transfer taxes, and legal fees. It is important to budget for these costs.

  3. Slow Process: The process of buying a property in Antigua and Barbuda can be slow and can take several months to complete. It is important to plan ahead and allow enough time for the process.

Purchasing Property Through a Company in Antigua and Barbuda

It is possible to purchase property in Antigua and Barbuda through a company. This can provide some benefits, such as tax savings, asset protection, and privacy. However, it is important to seek legal advice and to ensure that the company is properly structured and meets all legal requirements.

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