Despite gloomy economic conditions affecting property markets elsewhere in the world, St Lucia has had a buoyant year for property sales. The Landings, a private yacht development near Rodney Bay, has experienced its most successful sales year to date.

The rental market for Fly to Let owners is year round, and average capital appreciation is anywhere from eight to 20 percent. The north of the island sees higher rental yield and growth, partly due to its beautiful beaches, leisure and nightlife amenities and planned developments such as the super yacht marina in Rodney Bay, which is already underway.

Tourist numbers and figures from the St Lucia Tourist Board show an increase of 10 percent in May 2008 compared to May 2007. Arrivals from the UK also increased by 9.6 percent in the first five months of 2008 to 39,872, from 36,391 in 2007.

The Landings development has just released phase three, following the successful sell out of phases one and two. Approximately 65 percent of sales have been from the UK and Irish markets.

St Lucia has recently been placed in the top 30 countries to invest in by the World Bank, ahead of Barbados and Antigua.

Oliver Gobat, sales director at The Landings, said: “St Lucia is proving a popular place for property investors since the UK and US real estate markets have weakened and the equity markets have become less attractive. The Caribbean, in particular St Lucia, has the ideal conditions in which to invest.

“Property is still relatively well priced, and as the infrastructure continues its improvement with the huge redevelopment of the Rodney Bay Marina, and the prime sites get developed, there will be more and more demand for the key locations. Prices are expected to continue to increase strongly over the next five to 10 years.”

Spanning 19 acres and nearly 800 feet of the island’s beachfront, The Landings guarantees water views from every residence. Built in a traditional Caribbean architectural style, it offers a choice of one-bedroom (1,319 sqft), two-bedroom (1,850sqft) and three-bedroom (2,638sqft) residences, three-bedroom grand residences (3,390sqft), and four-bedroom duplexes (3,700sqft).

Apartment and balcony sizes are generous, with many properties having balconies at the front and the back. All are finished in high-quality materials such as stainless steel, exotic wood, imported tiles and stone. Air conditioning is fitted as standard throughout.

As The Landings is being built on reclaimed land, it offers a rare opportunity to buy a freehold Caribbean beachfront property. The Queens Chain regulation, which states all land within 20m of the shoreline is owned by the government and can only be leased, does not apply.

The Landings has been fully operational since it opened in December 2007. In March 2008, a 7,000sqft spa and fitness gallery opened to owners and guests.
Prices range from US$550, 000 to US$2,400,000.

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