PROPERTY
BUYING PROPERTY IN ANTIGUA & BARBUDA CAPITAL GAIN Now that you’ve discovered the charm of Antigua & Barbuda, the pivotal question arises - should you invest your hard-earned money into a dream Caribbean property? Below are some of the advantages to buying a property on this paradise island and also some important things to consider.
RENTAL INCOME Numerous homeowners decide to lease their properties for holiday rentals while they are not in Antigua. The principal incentive to doing this is that the income from rentals, while the owner is not on island, generally ensures the property remains in excellent condition and well maintained in their absence. Typically, there’s also a surplus that can be utilised, but it’s essential to acknowledge that it is rarely a significant income stream, after management and maintenance costs have been considered.
One of the predominant aspects to understand is that the vast majority of properties here accrue considerable capital gain year on year, typically around 5%. Due to relatively high transfer taxes, however, the turnover of properties is minimal, making property flipping an uncommon venture. If you’re contemplating buying, it’s wise to consider a minimum hold of five years to optimise benefits.
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