Antigua and Barbuda is a twin-island country lying between the Caribbean Sea and the Atlantic Ocean. It consists of two major inhabited islands, Antigua and Barbuda, and a number of smaller islands
In January and February, the coolest months, the daily high temperature averages 81°F (27°C), while the nightly low temperature averages 72°F (22°C). In July and August, the hottest months, the high averages 86°F (30°C) and the low 77°F (25°C). Antigua averages about 45in of rain annually.
The wettest months are September to November, when measurable precipitation occurs, on average, eight days each month. February to April is the driest period, with an average of three rainy days each month.
Antigua hosts a couple of major annual events. Antigua Sailing Week in April is the largest regatta in the Caribbean, while Antigua’s 10-day Carnival culminates in a parade on the first Tuesday in August.
East Caribbean dollar
Yes, foreign buyers can acquire Antigua real estate relatively simply. Its recommended you instruct a reputable lawyer – legal fees are typically 1-2% of the purchase price. N.B. Foreign buyers can only purchase real estate in Barbuda on a leasehold basis.
All foreign buyers acquiring real estate in Antigua must apply for an Alien Landholding License, which costs 5% of the property’s value and can take four months to be approved
There are a number of regulations to be observed when purchasing a property in Antigua. Non-nationals must apply for a non-citizen landholder licence from the government when they have found a property to purchase. This can take several months to be approved, so for an expat to buy property in the country can be a time consuming business. This will cost approximately 5% of the value of the property.
The purchaser must also pay a transfer fee of 2.5% of the purchase price and the seller will pay 7.5%. Other fees that must be paid by the purchaser include 1.5% in legal fees and a 3% government tax on any loans which are arranged through an Antiguan bank.
Most properties available are free hold and if you are buying the property to rent out you can avail yourself of the services of a property management company for 10-20% of the monthly rental income and all issues will be taken care of for you.
All purchasers are advised to take out homes insurance to cover the building and separate contents cover if required. This is usually about 2% of the insured value.
The price of the property will depend upon a number of factors. Location is the main consideration, a beach front property with an excellent view will be worth far more than a similar sized property in a town with no view. A property in a tranquil area will also have a higher price tag on it than those in a busy part of town. There are also several developments in progress where it is possible to buy a property off-plan. If you choose to do so you should be aware that you will have to make regular payments while the property is being built. Amounts and frequency will vary according to the development.
Stamp Duties are charged to both the buyer and seller, with the buyer paying 2.5 % and the Seller is 7.5 % of the value of the property.
Most Antigua property is fee simple or freehold. The legal costs for transferring a property are between 1 % to 2 % of the value of the property.
Agent fees are between 5 % and 7 % and payable by the seller.
Renting a property is fairly expensive in Antigua and Barbuda as most of the properties available for rental are intended for the short term holiday let market, with very few designed for long term tenants. As a result if you wish to rent long term you will find that landlords are reluctant to drop prices to take that into consideration, as they can earn a great deal more from holiday lets, which are calculated by the week rather than the month.
If you do find a property for long term rental you will find that the rent does not include items such as utilities, maintenance and domestic help, which are all factored in to a short term let. The tenancy agreement that you sign will detail which expenses you are responsible for as the tenant and any other details such as the removal of household refuse. Long term rentals are usually for a minimum of 6 months, though contracts of a year can be negotiated.
As Antigua and Barbuda are popular with tourists, many of the properties available to rent are villas or apartments aimed at the wealthier visitor. In an apartment complex facilities such as swimming pools and gyms are not uncommon and there are usually shared facilities such as a laundry room.
A short term rental is usually for a period of one month or less and is ideal for those who are moving to the island while they look for alternative accommodation or while a property purchase is carried out. The landlord will include the cost of maintenance and utilities in with the rent and deal with any issues themselves. These also generally include domestic cleaning and gardening help. It is possible to rent a place on a month to month basis but as most landlords will have arranged to let to holiday makers in advance this is rare and if you need a short term let such as this for a transition period then you will need to make arrangements several months in advance to ensure you have a place to go to when you arrive.
Finding a reasonably priced rental is quite difficult but there are several estate agents across the country which have long term rentals available, and if you are prepared to live off the beaten track and away from the most touristy areas then you should be able to find something to suit. It will, however, still be pricey as Antigua and Barbuda has one of the highest costs of living in the Caribbean.
Property management fees 10% of the rental value
Rental commissions 8.33% of the rental value of the contract.
Rental commission is equivalent to the first months rent on an annual contract
On long-term contracts the Tenant usually pays utilities, gardening, pool, maid service and all expenses.