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Anguilla / Real Estate

By James Henderson

For so many centuries, land in Anguilla was among the least desirable in the whole Caribbean, but the recent success of its tourism industry means that the island’s scrubby real estate is now far more valuable. It reached a peak in 2008, since which point values have been affected by the current economy, though perhaps not as harshly as other islands. The real-estate boom really began in 2002, when St Regis signed an agreement to develop the land around the new golf course. However after several hitches in the development, the project lay idle for two or three years; it has recently been purchased by the owner of CuisinArt who plans to complete the development and add to the growing number of five star resorts on Anguilla. The clubhouse and golf course have already been re-opened and are well-maintained..

 In some ways it is a bit of a mystery that the island has not been quicker to develop. That said, regulations for purchasing land on the island are relatively strict. To buy land you must obtain an Alien Land Holding Licence, which can be a laborious procedure, and takes from three to twelve months. If you are building a house you are often permitted to buy only half an acre (a larger plot must be justified by a larger project, either a larger house or possibly a complex of villas). You must present plans which must be passed, and you face fines if the construction has not been completed within the stated time (usually 18 months). Anguilla is expensive in many respects and owning land is no exception. Taxes are quite steep, 17.5% on the purchase of the land plus import duty on every transaction during the build. If you choose to rent out a property, then you will have to pay 10% on any earnings. The net result is good however, perhaps because the people who do buy are prepared to go through the hoops.

Geographically the most prestigious area to buy and develop was always the West End, which is home to many of the hotels, but houses have been built all over the island. In some cases they have sprung up in areas even before the infrastructure, in the hope that the roads and electricity will follow soon. From the West End scattered development has stretched pretty much all the way along the north shore, up to and overlooking Sandy Ground (after which there is mainly local development until the Valley), and then again around Shoal Bay and along to Island Harbour, even beyond now towards Captain’s Bay. On the southern shore villas have sprung up in both directions from Blowing Point. Most of the waterfront land has been snapped up.

While Anguilla has become steadily more and more popular recently, it is only gradually catching up with the price of land in, say, Barbados and St Barths. However, villas for sale have become more common in the last 3 years and  prices have steadied. In many cases they have in fact fallen, making the purchase of an existing property more appealing than buying land and building. This is especially true as it minimizes the inevitable frustrations of building in the islands with regards to labour, sourcing materials, and considerations for the climate.

With the banks starting to put pressure on loans and many foreigners wanting to “cash out” there are certainly some bargains to be had at the moment. An acre of undeveloped coastal land (not beachfront land, which is reserved for tourism development now) will go on the market for around US$500,000 (some can be found for half of this) while the same parcel inland can cost around $100,000 and up. The value for a three bedroom house in a good location has been recently reduced to $365,000  and in the most prestigious areas villas range from $1 to $28 million The highest price recorded so far for a private villa sale is US$8 million. Overall, if you are in the market for a holiday home or investment, now is not a bad time to pick up your piece of paradise in Anguilla.

See below for recommendations and listings of Anguilla Real Estate agents.

Contributors:  Tess Hokin (update April 2012)

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Looking for inspiration?

  1. Try Cove Bay for one of the Caribbean's best white sand beaches
  2. Dine at the fantastic Blanchard's
  3. Stay at the beautiful Cap Juluca
  4. Play at the Temenos Golf Club, designed by Greg Norman
  5. Take a boat trip to the stunning unihabited Prickly Pear Cay

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