Caribbean living without the high price tag

If the Windward Islands of the Caribbean were a jeweled necklace, consider St Lucia to be one of the especially big sparkly ones, right in the middle.

Sitting snugly between the French colony of Martinique to the north and St Vincent & the Grenadines to the south, St Lucia is known as ‘Helen of the West Indies’, and is indeed a place that has launched a thousand ships, albeit of the white, shiny cruise variety.

The Island is a mixture of tropical rainforest, pristine white beaches, palm trees and a turquoise sea, plus the occasional peak of a dormant volcano or two. Life on St Lucia up until now had been simple with an economy driven by bananas and coconuts. However, tourism is now the second most important export after the reliable banana, so much so that the government even changed the Island’s Carnival dates to after Lent so as not to coincide with Trinidad and Tobago’s and fight over the overseas crowd. Real estate is also now sitting up and paying attention, as St Lucia’s climate, low cost of living, English speaking community and alluring tax incentives provide the foundations for investment success.

International Real Estate Agent, Investors Discover, has fallen for the charms of St Lucia and is exclusively marketing Trouya Beach Village, a luxurious development of 38 townhouses and apartments in the north west of the Island close to Rodney Bay. Rodney Bay is home to the best hotels, restaurants, nightlife and duty free shops on the Island. The sheltered natural bay and man-made lagoon is after British Admiral, George Rodney, who sailed the English Navy out in 1780 to attack and ultimately conquer the French Fleet. Rodney Bay Marina is now one of the Caribbean's premier yachting centres and the destination of the Atlantic Rally for Cruisers (transatlantic yacht crossing) each December. Fifteen minutes from here you’ll find Trouya Beach Village. The 3.8 acre development is in three parts, Banbou Grove, Hummingbird Haven and Mango Close, and surrounded by tropical gardens and freshwater pools complete with pool bar and restaurant. Properties are spacious with large terraces, most with private splash pools, and built to exacting European standards whilst making use of local Caribbean masonry and solid hardwood. Trouya Beach Village is a gated community with 24-hour security for peace of mind and will have a professional rental program in place with a guaranteed rental income of 5% for one year to ensure that the property brings in a constant return.

One of the most attractive features of owning a property in Trouya Beach Village is the use of facilities of the neighbouring five star Windjammer Landing Resort. All Trouya Beach Village owners will have access to the facilities there such as swimming pools, outdoor Jacuzzis, five restaurants, tennis courts, the Serenity Health Spa, watersports program and nightly entertainment. There is also an option to join Windjammer Landing’s Resort own rental scheme if you so wish. Golfers will also not be disappointed as there are two 18 hole courses on the Island, the St Lucia Golf and Country Club and Regency Golf Resort, plus another two are on the brink of completion and more are planned.

The buying terms are also extremely appealing. All properties are being sold freehold with associated buying costs of approximately 5-7% (includes land registration, notary fees, stamp duty, lawyers fees and mortgage set up where necessary). Mortgages of up to 70% are available. As the project is off-plan (completion expected end 2008), necessary stage payments will be held in Escrow accounts for added security, handed to the developer on completion. Prices start from 213,667 GBP for a two bedroom apartment with splash pool and rental returns are expected to be high. A townhouse property at neighbouring Windjammer Landing, based on a conservative 50% occupancy rate, currently shows a return of 30,334 GBP p.a. To top it off, St Lucia has a no VAT, no capital gains tax and no rental tax for 10 years – the proverbial cherry on your Caribbean cake.

For further information, visit investorsdiscover.com.