Residential complexes in Saint Vincent and the Grenadines

Residential projects in Saint Vincent and the Grenadines

The local government welcomes foreign investments, so citizens of other countries can invest in a property development in SVG. There are no restrictions in the law for foreign buyers; however, before finalizing a transaction, it is necessary to apply for a land ownership license. A non-refundable fee of $2,500 is charged for the issuance of the document, and the process takes about 3 to 4 months. The license is specific to the property and does not require annual renewal.

Once the special permit is issued, the process of buying houses and apartments in St Vincent and the Grenadines will proceed as follows:

1. Legal formalities: Buyers are required to hire a qualified lawyer to help with the preparation of all necessary documents, including a real estate ownership certificate, transfer deed, and visa. The fee for these services usually ranges from 1% to 5% of the property’s value.
2. Appraisal and inspection: This stage is crucial for identifying any potential issues and determining the market value.
3. Finalizing the deal: When signing the purchase agreement, a deposit of 10% of the property’s price is typically required.
4. Completion of the purchase: The final stage involves paying the remaining amount and registering the property in the buyer’s name.

In addition to legal fees, associated costs include a stamp duty of 10% of the value (usually split equally between the buyer and seller) and a registration fee of about 0.25% of the price.

Properties for sale by developers in Saint Vincent and the Grenadines for investment

Why do local and international investors seek to buy property in new residential projects in SVG?

1. Attractive tax system: The country does not impose inheritance or capital gains taxes, making it an appealing destination for those looking to pass on property to heirs or profit from reselling without additional tax burdens. Property taxes are relatively low, making ownership of local real estate economically beneficial. Property transfers by foreigners are taxed at a fixed rate of 5%, applied to both the buyer and the seller.
2. Rapidly growing market: Prices of property in St Vincent and the Grenadines have shown significant growth, mainly driven by the tourism sector and demand for vacation homes and luxury units. Local property values are steadily increasing, particularly in coastal areas and scenic locations.
3. Prime location: Positioned between the Caribbean Sea and North America, the country is easily accessible to both tourists and investors. Direct flights from New York, Atlanta, Miami, and other major US cities make it convenient for wealthy foreigners to travel without obstacles.
4. Rental income: The thriving tourism industry and the growing expatriate population drive high demand for rental housing. Short-term rentals are the best strategy for investors looking to maximize profits. To achieve this, properties near beaches and popular attractions are ideal. The residential complex in Saint Vincent and the Grenadines, with prices from developers, offers an appealing option for investors seeking profitable opportunities. For long-term rentals, homes in major cities with developed infrastructure are usually chosen.

Real estate in residential complex in Saint Vincent and the Grenadines

Our aggregator offers a regularly updated catalogue of real estate listings in new buildings in SVG. Each listing includes up-to-date features, photos, and pricing, thanks to thorough verification. Explore the functionality of the Global Properties platform, which includes an interactive map, currency converter, and other tools to simplify the real estate selection process and take the first step toward purchasing your dream home!