The year 2020 will likely be remembered as the year that was not. A time where all plans were cancelled or put on hold and everyone stood still, waiting for time to pass and solutions to be provided. There has been much speculation regarding the long term economic ramifications of COVID 19 and we have seen the results of this speculation in property market across the globe with most real estate markets slowing dramatically in the early parts of 2020.
Antigua was been no different from all other countries at the start of the pandemic, interestingly however there has been an increase in market activity since the end of summer. There has been an increase in interest in holiday homes for the past few months with many seeming to have been spurred into action due to having more time to reflect on life and the realisation that life does keep on going and often there is no time like the present.
With more and more individuals finding that they have had to work remotely many have realised that although initially an inconvenience, remote working has now become a very attractive proposition allowing individuals more freedom and time. And what better place to work from remotely than Antigua? With the recent Nomad Visa, (see below), being introduced the property market has seen a burst in interest over the past few months which was not expected which has put the market back on track as opposed to dead in the water.
Lastly and most significantly as most savvy investors know, the more uncertain a market is the more market opportunities occur as different individuals take wildly differing views on the market direction. We saw this in Antigua in the late summer when some thought that only ruin lay ahead, and some very low property prices with some very happy investors now sitting pretty as the market has stabilised as more people realise that tourism will return in force as more people long to travel after being cooped up for so long during 2020.
So although a difficult year for many, there is renewed activity in the Antigua property market and some deals to be made, be it buying or selling there are opportunities around the corner.
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The Nomad Visa Program – Remote working in the Caribbean
Officially known as the “Nomad Digital Residence”, the initiative offers long term visas (Two years in the first instance). This is for those who are able to work remotely and wish to reside in Antigua. Considering the year that many have had, remote working has now become the norm and geographical location while working has become largely irrelevant provided timekeeping is on point.
The visa allows for individuals to apply individually or with family members to obtain a long term visa than would usually be granted to visitor to the island. This approach has seen an explosion of long term property rentals in Antigua over the past few months as more and more choose to live in the Caribbean on a family friendly island with beautiful beaches, a solid infrastructure and a very low crime rate.
Applying for the visa is very straight forward, there is an application fee of US$1,500 for a single applicant, US$2,000 for a couple and US$3,000 for a family of three or over. There are certain requirements and administration aspects that must be completed, including evidence of employment or self employment with an expected income of no less than US$50,000 per year, that the main applicant has the ability to support themselves and family members whilst residing in Antigua. Additionally applicants will need medical insurance for the duration of their expected stay in Antigua.
Relocation can be a very daunting thought, we know because we did it ourselves in the distant past. At Luxury Locations and Villa Management we know exactly what is required for relocation because we have been undertaking relocations to Antigua for more than a decade through our sales and our long term rentals. We have built all the experience and contacts that you might need for you and your family, including; bank accounts, doctors, dentists, drivers licence, schools, health insurance, shipping, internet, property leasing, car and boat purchasing, car insurance, taxis, laundry, cell phones, shopping, gardening, pool servicing, taxis, lawyers, accountants and much much more. We can do it all because we have done it all for the past decade, managing moves is what we do best.
Tracy Edwards Luxury Locations Magazine
In 1989 at the tender age of 26, Tracy Edwards a British sailor, along with her all female crew, took on the toughest of ocean sailing races, the Whitbread Ocean Race, a circumnavigation of the globe in six consecutive legs covering over 27,000 miles. Her team was the first all female crew to ever circumnavigate the globe.Not only did the team make it around the globe on their yacht “Maiden”, but they were also serious contenders for victory winning two of the six legs and placing second in their class overall. For an inexperienced skipper that Tracy was at the time, the race was such a success she was the first female to win the Yachtsman of the Year Trophy, proving that determination and hard work is what success is built upon. Her amazing story is detailed in the documentary film, “Maiden” and is well worth a watch.
Since then Tracy Edwards has undertaken numerous sailing races and adventures, her most recent project is the, “Maiden Factor” launched in 2018. The Maiden Factor Foundation works with and supports communities to enable girls into education and empower and support them to remain throughout their teenage years. This is being achieved by sailing the 1989 yacht, Maiden, to forty destinations in twenty countries around the world. Maiden is currently in the UK due to the COVID pandemic but will resume her world tour in the new year.
Maiden will be spending time in Antigua and some children will have the opportunity to sail on her. Luxury Locations Founder Nadia Dyson spoke with Tracy Edwards to find out more about her epic adventure. Read the full article on page 24 of Luxury Locations magazine.
Ocean Grand – Beach Front Property for Under US$500k
There are very few places on earth which have white sands, blue waters and 365 days of sunshine, the Caribbean is one such place. There are even fewer places where one can live and own property on the beach front for under US$500k, however Antigua’s Ocean Grand is offering just that.
With property prices for starting at under US$500k for west coast beach front property, you could buy and build your dream beach front holiday home for well under US$1.5m. Although that might still seem a lot there are very few places in the world that you can buy and build on the beach for less than US$3m so to be able to do it for under US$1.5m is incredible. Not only does Ocean Grand have beach front property it is also located on the calm and tranquil west coast of Antigua only 400m from down the beach from Sandals Resort. To say this is prime real estate is an understatement.
Ocean Grand is set on a peninsula totalling approximately seven acres with 300m of beach frontage, each land plot has beach or water frontage and spectacular uninterrupted views of the calm Caribbean Sea and sunset.
