Buying property in Antigua
Buying property in Antigua may seem a daunting step for those people looking to delve into the Caribbean real estate market, looking for either a holiday home, a rental property or simply as an investment.
Property-antigua.com have in excess of 6 years real estate sales experience on the island of Antigua.
We have extensive and proven real estate expertise covering all areas of real estate, from pricing, legal issues, construction companies, attorneys and much much more.
At property-antigua.com we only provide property listings of unique developments. The houses, villas and apartments that you see on our real estate website are not listed anywhere else. We deal directly with the developers and owners of the properties. You do not pay us a penny ever!
Buying Property In Antigua - The Facts
Alien Landholders License : An Alien Landholders License is required by any non-citizen to purchase property in Antigua. The cost of this license is 5 % of the value of the property.
Stamp Duty : 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.
Stamp Duty Waiver : The Stamp Duty and Alien Landholders License is waived on several projects, such as Jolly Harbour, and a 3 % fee is applied.
Property Taxes : Property taxes are very low in Antigua and are based on the rental value of the property.Title Deeds : Most property in Antigua is fee simple or freehold. The legal costs for transferring a property are between 1 % to 2 % of the value of the property.
Title Registration : All properties are registered at the Government Land Office, there is no title insurance.
Mortgages : Mortgages are available from several banks in Antigua.
Real Estate Agent Commissions : These fees are between 5 % to 7 % and payable by the seller.
Property Management Fees : These fees are typically 10 %, with rental commissions at 8.33 % of the value of the lease.
Witholding Tax : Withholding taxes are 25 % of net rental income for non-residents.
Property Insurance : Insurance coverage is typically 1 % of the property value, with a deductible of 2 % of the property value in the event of any claim.
Sanitation : Most properties catch rainwater from the roof and store this in a cistern for potable water. Typically properties have a septic tank for sewage.
Have a look at our Antigua real estate listings and feel free to contact us with any real estate questions that you may have.