Among the top islands in the Caribbean, St. Barts ranks high as the most desirable to live in. Aside from its beautiful scenery, it embodies elegance and luxury living. This tiny island is home to A-list celebrities in Hollywood. More so, St. Barts has some sophisticated beaches and hosts a lot of yearly festivals and events. Also, St. Barts has created a real estate environment that has become desirable to investors.
Aside from beautiful villas, you will find hillside and beachfront homes. In other words, investing in real estate in St. Barts gives you a chance to earn significant returns. Interestingly, compared to some Caribbean islands, foreigners can have a right to own properties in St. Barts. You don’t need to be a resident of St. Bart or a citizen of France.
Simple steps to own real estate in St. Bart
Acquiring real estate in St. Bart is not an arduous task. As mentioned earlier, you mustn’t be a resident to acquire a property in St. Bart. To own a property in St. Bart, follow these steps:
- Reach out to a realtor: The realtor you contact for a property in St. Bart should be based on the island. Engaging a realtor who doesn’t understand the nooks and crannies of St. Barts may not be suitable.
- Submit an offer: If the realtor finds a suitable property, submit your offer. Your offer should be enticing to resist.
- Draft a purchase order: Reach out to a notary to draft a purchase and sales agreement that would be comprehensive.
- Deposit of 10 percent: After executing the contract, you need to deposit 10 percent of the property’s value into an escrow account. The notary would hold the same.
- Closing sales: To timeframe to close out the purchase of the property is between 60 to 90 days. Any party that defaults on the purchase agreement, the buyer or seller, may be sued and damages paid.
Remember, the cost of the real estate would include the services of the notary and even the taxes. St. Barts doesn’t charge an annual property tax compared to other islands. Nevertheless, you may allow your realtor to handle all these steps. Also, opting for a villa rental in St Barts is a good idea too. You can visit here if you want to find more information.
Amazing areas to purchase real estate in St. Bart
Even though any investment made in real estate in St. Bart will yield returns, some areas provide more dividends for your investment. Check out popular areas to purchase property in St. Bart.
Colombier and Flamands
The Colombier and Flamands are situated in the northwestern part of St. Barts. Colombier Beach is one of the best places to visit on the island during the summer. You will find several villas in Colombier overlooking the beach. Properties along Colombier Beach are the most sought-after. In addition, Flamands Beach offers a lot of attractive real estate too. The prices of the properties at Colombier and Flamands vary. However, properties close to the Colombier and Flamands Beaches are more expensive.
Gustavia
You will also find many beautiful homes in Gustavia up for sale. In Gustavia, you will find world-class restaurants, cafes, and boutiques. Also, the homes in Gustavia provide an amazing view of the St. Barts coastlines. Homes in Gustavia appear to be more affordable compared to Colombier and Flamands. Also, Gustavia is close to the small village called Corossol. Corossol offers some famous residents living in Gustavia a quiet escape.
St. Jean
Amazingly, St. Jean is located on the northern coast of St. Bart. One of the best places to invest in real estate luxury is St. Jean. You will find a lot of luxury homes in St. Jean. Aside from that, St. Jean is home to some prestigious hotels. St. Jean is a peaceful neighborhood like every other part of St. Barts.
Toiny
Another location that offers a return on investment in real estate is called Toiny. Toiny is located on the eastern coastlines. The advantage Toiny has over other areas in St. Bart is that they are located at a higher elevation of this island. Most of the properties in Toiny are located on the hill. In addition, the closeness to the hills makes the Toiny beautiful.
Is it expensive to live in St Barts?
Relocating to St. Bart may not be a good idea for average-income earners. St. Bart harbors the who is who in the society. Aside from the locals, most people living in St. Bart earn a hefty income. Living in St. Bart may be expensive for low-income earners because most of the goods are imported from America.
The main currency in St. Bart is the euro, but some vendors accept US dollars. If you plan to spend some time in St. Bart, you should budget between $300 – $1,000 per night. In addition, the supermarkets all have American goods, and the prices are higher. But the locally grown fruits and veggies are very cheap.
What is the quality of life on St. Barts Island ?
No doubt, the Caribbean island of St. Barts is one of the best places to live. Interestingly, most retirees and veterans are a good numbers in St. Bart. You will also find remote work.
St. Bart is not one of those clean islands with a serene environment that are not congested. Residents of St. Bart mostly have a higher life expectancy because they are closer to nature. Besides, you can barely notice any noise or air pollution in St. Bart. You can invest in St. Bart real estate if you seek freedom, warmth, and quiet lifetime enjoyment.
Conclusion
Investing in real estate is good, and it becomes more profitable if the location is hotcake. St. Bart is a small Island that has made a name for itself as one of the safest places in the world. In addition, their real estate laws are discriminatory. Finally, ensure to reach out to a reliable realtor who understands the laws operating in St. Barts. The yields from your real estate investment can be reinvested into other aspects of your life.
