How to buy real estate property at St Kitts and Nevis
There are all types of St. Kitts real estate for sale, starting from small sea-side studios priced as low as $150,000 to traditional houses at around $500,000 to luxurious villas for sale in millions. The rental yields are also attractive. According to the local real estate listings, a three-bedroom house with a pool, for instance, rents short-term for $2500 to $3000 per week during peak season and $1200 to $1500 per week in low season.
Currently, there are also St Kitts real estate for sale by owner on the secondary market within the passport program. Some CBI investors have already passed the five-year holding period and are now able to sell their properties. Since they have already got citizenship, they are not very price-driven, and the offers look attractive for potential buyers.
However, it happened that the construction of some properties on the St Kitts passport program has been either frozen or delayed. In this case, the CBI investors can still get their citizenship but face the danger that the construction may never be completed. That’s why it is important to work with professional agencies who go to the project, do thorough due diligence, and provide transparent information for the investors.
Foreign nationals need to apply for an Alien Land Holding License to buy real estate at St. Kitts and Nevis. The fee is 10% of the gross purchase price. And the legal fees are estimated at 2% of the purchase price. The transactional cost is about 12% of the property value.
For more information on St Kitts and Nevis real estate properties and tips from St Kitts real estate agents, please check out the video: