It has been said by many politicians, “never waste a crisis”, and with new the coming of the new year we all hope for new opportunities. Although much of 2020 was a difficult year for many, the property market in Antigua took a very positive turn in the last few months of 2020 which is continuing into 2021. Overall the property market has seen this significant increase in interest as well as active sales continuing into 2021. To give this some context, Luxury Locations sold four properties in a three days in January! This market interest is great news for property owners looking to sell.
So what has happened and why is the market surging forward? For many it is the realisation that remote working is not only possible but preferable to commuting to wrk each day. For much of 2020 people were waiting to resume normal commuting activities, however as many businesses have now adapted their own practices to embrace remote working many employees are now finding that they may not need to resume commuting after the pandemic subsides. Many are taking this remote working concept further and moving to different countries, warmer climates and zero taxes for income earned off shore.
Due to the digital nomad visa program Antigua has attracted a significant number of remote workers who are avoiding the cold winter months in favour of sun, sea and sand and making a permanent move to the Caribbean to run their businesses and work lives.
So if you have been considering selling your villa now is a great time to list your property as we have a lot of clients looking to buy.
Contact us for more information on listing with Luxury Locations
These changes coincided with the launch of the Digital Nomad Visa program in Antigua where individuals may purchase a two year visa to reside in Antigua for remote working purposes. The most beneficial part of this program for many is that provided that their income is generated outside of Antigua there is no tax to pay!
The end result has been a significant number of “Digital Nomads” now reside in Antigua, rather than waking up to frosted roads and dark afternoons these lucky individuals now wake up to sunshine, white sand beaches and turquoise Caribbean seas. The traditional working suits have been switched for flip-flops and shorts allowing for all the benefits of a Caribbean beach holiday while working in a relaxed and quiet environment.
Other and the obvious benefits of the 365 beaches and year round warm weather, Antigua is that Antigua has one of the lowest crime rates in the Caribbean so safety should not be a concern. Antigua has a number of internet providers allowing a choice of stable connectivity providers. The costs of living are similar to the US and UK so there will be no nasty surprises regarding high rental costs or daily expenses. With direct flights from London, New York, Miami and Toronto you will only be a short trip back to the office if needed.
So what are you waiting for? Don’t spend money on heating or a new coat, come and join us in paradise and become a Digital Nomad.