Beaches galore are not the only reason to invest on this Caribbean island, though. The property investment climate is favourable for overseas buyers, and particularly those looking to relocate to an island home. Antigua is one of a few places worldwide not to levy income tax, capital gains tax, inherience or wealth taxes on residents.

The Antiguan economy is helped along by attractive Offshore International Business Corporations law. "There are many opportunities in a growing economy," says Geoffrey Pidduck of Antiguan property agent Tradewind Realty. "Though some, such as day charter operations, are reserved for locals, investments that provide jobs and stimulate the economy are encouraged. New business start-ups – especially those associated with the Internet, offshore financial services and the hospitality industry – are welcomed and there are attractive fiscal incentives available to developers."

Buying in Antigua may also be a good investment for people looking for a strong return on holiday homes says Arthur Rooney of The Just Group. "There is a finite amount of land available for construction purposes," says Rooney. "This means excellent prospects of capital appreciation in the future." Antigua has been popular with celebrities over the years – Giorgio Armani is said to have built a home here – while easy access is another attraction. "The island is serviced by flights from the UK, USA Europe, Canada, South America and other Caribbean Islands," Rooney continues. "Tourism is the major industry, and the local economy has progressed steadily over the past 30 years – resulting in the average Antiguan enjoying prosperity beyond average in the Caribbean."

Pidduck points out why property demand has increased in recent years. "During the past three years Antigua has become one of the hot property spots in the Caribbean," he says. "Property values have increased substantially yet still represent value for money when compared to other places in the Caribbean. Property remains attractive for those using strong currencies such as Pounds Sterling. "The Cricket World Cup 2007, with the new state-of-the-art stadium, provided attractive incentives to upgrade our hotel and tourism sector and stimulated a new wave of building activity and some exciting new hotels and property developments."

Construction is evident throughout the island, but Pidduck recommends five property hot spots: "The North near the capital St. John's and the international airport, the South East near English and Falmouth Harbours, the Caribbean side near Jolly Harbour, the North East near Devil's Bridge and the East near Half Moon Bay."

For further information:
The Just Group
Tradewind Realty

Article published 1 April 2008