The Caribbean is booming with investment opportunities. In fact, in 2022, foreign direct investment into the Caribbean alone shot up 53%! Investors around the world are seeing the huge return potential on green energy, tourism, and real estate. In this article, we will guide you through the best and cheapest Caribbean islands to buy property in.
Key Takeaways
- Which islands are popular investment opportunities and the benefits they offer for investors
- What to look out for when considering what type of property you seek to invest in
- Common questions you will have when looking for the best Caribbean island to buy real estate
Some Factors to Consider When Buying Property in the Caribbean
There is a lot to consider when choosing the best Caribbean island to invest in real estate. We went ahead and narrowed down the main factors worth looking into when weighing in on which Caribbean island to invest in.
- Property Types and Prices
- Investment Benefits
- Overall Pros and Cons of investing in real estate in the Caribbean
4 Top Caribbean Islands for Property Investment
1. St Kitts and Nevis
This Twin Island Federation has always been at the forefront of innovation. St. Kitts and Nevis was the first to implement a citizenship-by-investment program, is making huge strides towards resiliency, and hails as one of the fastest-growing economies of the Caribbean.
Property Types
Real estate is a popular investment to make in St Kitts and Nevis. A beachview apartment can cost you as little as $400,000, automatically approving you for citizenship by investment. You can also invest in affordable Caribbean real estate with a two-story duplex coming in at just $450,000.
Those who are seeking to invest more in the Caribbean can find luxury homes that cost more than $2 million. These luxury properties are on the shore, have over an acre of property, and include pools, and many other amenities.
Citizenship by Investment
Not only is St Kitts and Nevis one of the best islands in the Caribbean to buy property in, but it is also a popular place to gain citizenship by investment. For just a $400,000 investment in property, a St Kitts and Nevis passport can be yours in just weeks. The process is quick and you will gain a second passport that allows you to travel to over 160 countries visa-free. The tax policies on the island are very favorable, making it one of the best Caribbean countries to live in.
Learn more about investment opportunities on the island here.
Pros
- Property can be sold after 7 years while retaining your passport. You can get the full benefits of investing in property without the lifelong commitment.
- Living and working in St Kitts and Nevis, your income and taxes will be kept completely secret.
- St Kitts and Nevis has a stable economy based on tourism. Your interests will be well
Cons
- With a smaller population, it can be sometimes difficult to find the labor and management needed to sustain a real estate investment.
- The islands are relatively small and there is limited space for residential planning. It is important to consider the availability of real estate.
2. Grenada
Spice up your investment portfolio with real estate in the “Spice Isle” of Grenada. Known as the most cheapest Caribbean island, the minimum threshold to purchase real estate for citizenship is low.
Property Types
There are a lot of fixer-upper homes available near the $270,000 mark which is also the minimum amount of real estate investment needed for citizenship. These homes are more inland and contain more than four bedrooms, with the property line coming in at around 500 square feet. You will find some of the cheapest Caribbean real estate in Grenada.
There is no scarcity of luxury beachfront homes on this Caribbean island. From high-end apartments to acres of prime real estate, there is something sure to satisfy your appetite.
Prices for luxury homes and apartments start at half a million dollars and can up upwards to millions with acres of real estate.
The Grenada government has a list of approved projects that can be invested in for citizenship. The government protects these projects and offers security for your investment.
Citizenship by Investment
Grenada sets itself apart when investing in the Caribbean. Not only does it have the lowest minimum investment requirements, but it is also the only island that holds an E-2 visa treaty with the United States of America. This means that by obtaining citizenship through investment, you have the opportunity to obtain a US work visa after establishing a domicile on the island. Learn more about Grenada investment opportunities through our qualified agent.
Pros
- As the only E-2 Caribbean partner with the United States of America, having a home in Grenada can grant you a work visa for the USA.
- The low threshold for citizenship by investment attracts lots of affordable real estate, making this one of the most affordable Caribbean islands to buy property.
- Government-backed real estate options are available that offer sought-after security for investments.
Cons
- Financing options are quite limited on this island so prepare to do your research when deciding on an investment.
- Due to the island’s size, there is a limited amount of infrastructure and property that can be expanded on the island.
3. Antigua and Barbuda
Antigua and Barbuda is known as a natural paradise with pink sand beaches, exotic birds, and unspoiled lands – a true nature lover’s paradise. For those seeking the best Caribbean island to buy property in, Antigua and Barbuda is a strong contender.
Property Types
There is no shortage of property in this beautiful Caribbean paradise. Affordable apartments and houses can be found across the island in the low price range of around $325,000. This is just at the threshold for citizenship through investment, making it one of the most affordable Caribbean real estate.
Like all other islands, luxury homes can be found near the shoreline with apartments starting at $400,000 and homes with acres of land upwards to the millions.
Citizenship by Investment
For those who want a passport that will grant them visa-free travel to over 150 countries including England, an Antigua and Barbuda citizenship can be a great contender. Many seek safe and cheap real estate in the Caribbean to live the life they want with the freedom of travel. Learn more about the many benefits of Antigua and Barbuda citizenship from our expert agents.
Pros
- Citizenship through acquiring land gives you the freedom to travel to England and Schengen countries.
- The nature and undeveloped land on the island is perfect for nature lovers, bird watchers, and explorers.
- The hospitality and tourism industry in Antigua and Barbuda is going strong. Your investment is much safer in an economy focused on tourism.
Cons
- With some of the cheapest real estate in the Caribbean, there is a huge demand for land, and property is being bought up quickly. Don’t expect good deals to be available for long on a small island.
- Due to the island’s size, there is a limited amount of infrastructure that can be expanded on the island. Remember to put extra consideration when allocating your resources to projects.
4. Saint Lucia
Saint Lucia’s volcanic mud baths, native wildlife to explore, and thriving nightlife make it one of the best Caribbean islands to buy property in. It is a popular tourist destination with a rising residential population enjoying a safe environment and growing economy.
Property Types
Saint Lucia is known for its beachside residential properties, inland suburbs, and luxury apartments. There is lots of new construction, opening up investment opportunities on this Caribbean island.
The average price per square meter of a house is about $6,500, making it some of the most affordable Caribbean real estate. After just 5 years, investors can sell their property while still keeping their Saint Lucian passport, making it one of the best Caribbean islands to buy property in.
A four-bedroom two-story fixer-upper close to the shore will run you about $300,000 while a recently built house just minutes away from the city center will cost you about $550,000.
New luxury condos are being built with full amenities in protected gated communities that can be purchased for as little as $500,000, making it a super affordable investment in Caribbean real estate.
Citizenship by Investment
What makes Saint Lucia the smart way to invest in the Caribbean is that you never have to visit the island to become a citizen. All paperwork can be done remotely! You’ll be able to go to Saint Lucia as a citizen through investment without ever having to step foot on the island. Learn more about acquiring cheap Caribbean real estate from an expert.
Pros
- Property can be sold after 5 years while retaining your passport. You can get the full benefits of investing in property without the lifelong commitment.
- The beautiful scenery of the island is hard to find anywhere else in the world. Your investment will always stand out and be attractive to visitors.
- The hospitality and tourism industry in Saint Lucia is going strong. Your investment is much safer in an economy focused on much safer in an economy focused on tourism.
Cons
- The island is hurricane-prone during the summer season. While the island is prepared to deal with natural disasters, it is important to consider how this will affect investments.
- Due to the island’s size, there is a limited amount of infrastructure that can be expanded on the island. Remember to put extra consideration when allocating your resources to projects.
Tips for Property Buyers in the Caribbean
While the Caribbean economies are booming, they aren’t tracked as well as larger states. It can be difficult to find lots of data on investing in the Caribbean so it is best to turn to a professional agent for help.
They have all the insider information needed to find the Caribbean real estate that matches your budget and desired benefits.
With many Caribbean islands having their own citizenship through investment programs, it is worth looking at a second passport. Many make their investment in the Caribbean with the primary benefit of obtaining a second passport to travel and enjoy less taxation.
Talk to your professional agent about what you expect from a second passport and they can find the right island that requires a real estate investment in your price range that grants citizenship.
FAQ
Which is the cheapest Caribbean island to buy property on?
Grenada has some of the cheapest properties in the Caribbean islands to purchase. Fixer-uppers can run as cheap as $270,000 and still qualify you for citizenship. Many islands have affordable ready to move into or rent-friendly properties that are ready for purchase.
What is the safest Caribbean island to live in?
While many Caribbean islands are very safe to live in, St Kitts and Nevis, Grenada, Antigua and Barbuda, and Saint Lucia stick out as some of the more foreigner-friendly islands. These islands have close-knit communities and with their economy dependent on tourism, there are great initiatives taken to make everyone feel at home.
What Caribbean islands have no tax?
Caribbean islands are famous for very competitive tax rates. Antigua & Barbuda has a low tax system, with no personal income tax, capital gains tax, or tax on dividends. Your foreign income will not be taxed, saving you big.
Conclusion
The Caribbean is a beautiful place to invest in real estate. With a variety of islands hosting the most affordable real estate in the Caribbean, you can’t go wrong with whichever island you pick. Get more information about the best Caribbean islands to buy property from respected experts in the industry. Get in touch with our agents.
