St Kitts and Nevis Real Estate Guide for International Buyers

Tourism reached almost 900,000 arrivals in 2023, representing St Kitts and Nevis’s growing popularity as a Caribbean vacation destination despite its small size and population. Investing in St Kitts and Nevis real estate is an excellent opportunity for foreign buyers to capitalize on the Caribbean real estate market. This guide will provide insights into the following:

• Real estate market
• Growth potential
• Real estate for sale
• Property taxes
• Benefits

Saint Kitts Real Estate Market History and Overview

The St Kitts government has successfully developed a robust tourism industry. The country welcomed 888,000 visitors in 2023, a 57 percent increase on the previous year. The St Kitts and Nevis real estate market has a wide range of real estate options geared toward tourists, including luxury resorts and boutique hotels.

Combined with growing tourism,  St Kitts real estate citizenship has grown in popularity, allowing foreigners to purchase approved real estate in the country and receive dual citizenship while benefiting from the tourism industry.

Property types

• Villas and luxury homes: Developments with high quality furnishings and modern amenities, such as swimming pools, balconies, and jacuzzis.
• Condos: Condominiums and apartments in residential complexes with resort-style amenities.
• Land and lots: Land for development, whether for residential, commercial, or investment purposes.
• Colonial estates: Former sugar plantations and estates.
• Commercial properties: Office buildings, retail spaces, luxury resorts, and restaurants.

Market trends

Foreign tourists spent EC 428 million ($158.37 million) in St Kitts and Nevis in 2023. With projects such as the development of Port Zante and the signing of an expansion plan of Vance W. Amory International Airport, tourism is poised to increase significantly in St Kitts and Nevis, attracting more international visitors through improved infrastructure and accessibility.

To satisfy the increase in tourism, approved real estate developments, including the Canopy House and Cottages and Villa Oasis, have been included in the St Kitts and Nevis citizenship by investment program, allowing foreign buyers to capitalize on St Kitts and Nevis’s growing property market and obtain citizenship.

Property prices

Due to being the country’s business hub and most populated region, apartments can range between $4,000 and $5,000 per square meter in St Kitts. For low-priced real estate property sales, Half Moon Bay and Bumaire offer cheaper listings while remaining central. Nevis property prices are lower due to the island being less developed and sparsely populated.

Four-bedroom, four-bathroom West-Indian style cottages sell for around $200,000 to $500,000 in Nevis. Prices are as low as as $300,000 for two-bedroom properties and vacation homes on St Kitts. Purchasing St Kitts homes in areas like Christophe Harbour or near tourist attractions and UNESCO World Heritage Sites like Brimstone Hill Fortress National Park command higher prices.

Here’s an overview of real estate prices in St Kitts and Nevis.

• 10.53 acres of waterfront development lands in the South East Peninsula for $7 million.
• A three-bedroom, 6,845 square foot estate in the St Thomas parish with stunning views of the natural landscape and mountain for $4.9 million.
• A ten-bedroom building in Christophe Harbour with views of the Caribbean Sea for $5.9 million.
• A three-bedroom, 150,000 square feet home with a wrap-around veranda and a short distance from the local airport and capital, Charlestown, for $915,000

Ten Reasons to Buy St Kitts and Nevis Real Estate

1. Stable property prices: While St Kitts and Nevis doesn’t offer the cheapest real estate listings in the Caribbean, property prices remain stable.
2. Obtain citizenship: Buying approved real estate for at least $325,000 qualifies for St Kitts and Nevis citizenship by investment.
3. Low-impact development: St Kitts and Nevis is a small island and not overly developed, allowing buyers to own residential and commercial property while maintaining space.
4. Sustainable initiatives: The St Kitts and Nevis government strongly focuses on environmentally sustainable, evident in the Leclanché solar project, ensuring the long-term health of the twin-island nation.
5. High income potential: Rental income in St Kitts and Nevis is four to seven percent annually, higher than in many Caribbean countries.
6. Tax friendliness: St Kitts and Nevis is a tax haven, imposing no income, wealth, inheritance, or capital gains taxes.
7. Growing tourism: Expansions to the Port Zante cruise port and a confirmed plan to develop Vance W. Amory International Airport will see tourism grow significantly.
8. Proximity to the US: There are direct flights to Miami International Airport from Robert L. Bradshaw International Airport, and the flight time is just over three hours.
9. Natural beauty: As a preserved natural island, international buyers have the option of luxury homes, beachfront villas, and resorts nestled in lush greenery.
10. Swift yield on property sales: After a year of ownership, property sales—ranging from family homes to resort shares—can yield a profit of two to five percent.

Where to Buy Real Estate in St Kitts and Nevis

Some of the best places for buying property in St Kitts and Nevis include:

Frigate Bay: Located on the Island of St Kitts, this town is central with a mix of luxury homes, condos, and resort properties and is close to amenities such as golf courses, restaurants, and nightclubs.

South Peninsula: This area in St Kitts boasts relaxing ocean views and secluded beaches, making it ideal for privacy and tranquillity. South Peninsula properties often include luxury beachfront villas or estate homes surrounded by lush tropical landscapes and mountains, and investors may find the perfect piece of land to build their own home in paradise.

Oualie Beach: Located on the northwest coast of Nevis, Oualie Bay has calm waters for scuba diving and breathtaking sunsets. Properties for sale in Oualie Beach feature beachfront cottages and resorts.

Charleston: Charleston is a coveted location for real estate investment in Nevis. Buyers can discover beachfront estates, luxury condos, and boutique hotels like the Hamilton Resort in this sought-after area.

Step-By-Step Guide on How to Buy St Kitts Property

1. Explore real estate listings that suit your goals. You may consider rental demand and potential rental yield for investment property. If it’s a vacation or second home, you may consider accessibility to amenities and the local culture and lifestyle.
2. Once you’ve identified a viable property, have an attorney assess the title deed and ensure no encumbrances on the property prevent a purchase.
3. After establishing the property’s legality, your attorney can prepare the Sales and Purchase Agreement.
4. You must apply for an Alien Landholding License (ALHL) from the Ministry of Justice and Legal Affairs to complete the purchase. Non-citizens buying approved real estate to obtain St Kitts and Nevis citizenship by investment do not require an ALHL.
5. ALHLs typically take two to three months to prepare; in the meantime, secure the property by paying a ten percent deposit to the seller.
6. You can ask your attorney to register a restriction blocking others from tampering with the property without your consent.
7. After receiving your ALHL, complete the sale by paying the amount agreed in the Sales and Purchase Agreement, as well as the stamp duty, which is six to ten percent of the property value.
8. Once all payments and documents are finalized, your attorney will register the sale with the Land Registry Department, transferring your name to the title deed.

Alien Landholding License

International investors buying Caribbean real estate in St Kitts and Nevis must apply for an Alien Landholding License (ALHL), which costs ten percent of the property value.

CBI real estate

The St Kitts and Nevis citizenship cost to buy property approved under the CBI program starts at $325,000 and waives the requirement to obtain an ALHL.

Finding Property for Sale in St Kitts and Nevis

Several St Kitts real estate websites offer property to buy in St Kitts-approved areas. Global real estate websites listing property approved by the St Kitts and Nevis Citizenship by Investment Unit (CIU) include:

• St Kitts Nevis Realty
• 7th Heaven Properties
• Sotheby’s International Realty
• Remax St. Kitts

Pre-approved St Kitts and Nevis CBI properties for sale

Frigate Bay: The Silver Reef development offers spacious luxury two-bedroom, two-bathroom luxury condominiums with access to a community pool and just a short drive to Robert L. Bradshaw International Airport from $420,000.

St Paul: Eco-friendly, classical-style cottages with panoramic views encompassing the Caribbean Sea and the natural beauty of Mount Liamiga are available at the Belmont Farm Resort in Kittitian Hill from $450,000.

Frigate Bay: One-bedroom apartments are available at Calypso Bay Resort from $350,000, featuring dual balconies in both the living room and bedroom, exclusive access to tennis courts and a swimming pool, and just a five-minute drive from the capital city of Basseterre and Porte Zante.

New Castle: A renovated West-Indian style home with three bedrooms and three bathrooms, views of the St Kitts peninsula, and a private pool and jacuzzi is on offer at Villa Oasis in Oualie Bay on the island of Nevis from $865,000.

Other properties and vacation homes for sale in the islands of St Kitts and Nevis

Tips for buying investment rental property

1. Research potential rental demand in different towns, considering the potential for development in infrastructure, attractions, and local amenities.
2. Seek advice from a real estate agent familiar with the local market and investment property.
3. Consider the property’s long-term rental potential by evaluating rental trends and the ability to attract future tenants.
4. Prepare for challenges, such as unexpected maintenance, tenant turnover, and legal requirements.
5. Contemplate employing the services of a property management company to handle tenant issues and maintenance.
6. Assess long-term profitability by calculating expenses against expected rental yield, including annual property tax, maintenance, and property management fees.

Buying St Kitts and Nevis Real Estate to Get Citizenship

Foreigners considering buying property can purchase government-approved real estate through the St Kitts and Nevis dual citizenship by investment scheme and gain citizenship on St Kitts and Nevis. When choosing this route, investors have the following options:

• Buy a real estate unit in an Approved Development worth a minimum of $325,000
• Buy a condominium unit worth $325,000
• Buy a single-family private dwelling worth at least $600,000

Qualifying real estate investments must be held for at least seven years before selling to maintain a Caribbean passport.

St Kitts and Nevis Property Transaction Costs

Below are the buyers’ required fees to purchase St Kitts and Nevis real estate based on the property value:

• Stamp duty: 6 to 10 percent
• Legal fees: 1 percent to 2.5 percent
• Real estate agent fees: 3 to 5 percent
• Registration fee: 1 percent
• Land assurance fund: 0.20 percent

Taxes for international buyers

Additional fees international buyers must pay in St Kitts and Nevis include:

• Alien Landholding Licence fee: 10 percent

Maintenance costs of St Kitts and Nevis real estate

Besides purchase costs, there are expenses and fees to maintain ownership of St Kitts and Nevis property.

Annual property tax: The St Kitts and Nevis Inland Revenue Department imposes property as a percentage of the property’s open market value, which is 0.2 to 0.75 percent for residential property and 0.2 to 0.3 percent for commercial property.

Special Exemptions in St Kitts and Nevis’s Property Tax Act exempt properties such as heritage property or buildings used for agriculture from annual property taxes.

Management fee: Real estate owners can hire a property management company to maintain and lease their St Kitts and Nevis property. This typically costs 40 to 50 percent of the property’s rental income.

Mortgages for international buyers

International property buyers may be able to finance property purchases in real estate market in St Kitts and Nevis through local banks or international institutions such as Hamilton Reserve Bank, though the process will differ from residents.

Generally, banks require non-residents to pay larger down payments of 30 to 50 percent of the property’s value, along with higher interest rates than locals are subject to. Loan terms are also typically shorter. Given the higher risk factors involved in lending to overseas residents, mortgage lenders tend to approve mortgages for those with considerable wealth or assets.

Is it worth obtaining property in St Kitts and Nevis?

It is worth buying St Kitts and Nevis property. St Kitts and Nevis is one of the best Caribbean islands to buy property, allowing property buyers to obtain citizenship and enjoy a high quality of life. St Kitts and Nevis does not impose income tax or capital gains, wealth, or inheritance tax.

Why use Global Citizen Solutions?

Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.

So, why work with Global Citizen Solutions to obtain St Kitts and Nevis citizenship?

• Authorized International Marketing Agent. Global Citizen Solutions have official certification by the Government of St Kitts and Nevis to promote and market their Citizenship by Investment program. You can find a copy of our certificate by clicking the image on the right
• Global approach by local experts. We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
• 100 percent approval rate. We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
• Independent service and full transparency. We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
• An all-encompassing solution. A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
• Confidential service and secure data management. All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.

Frequently Asked Questions about Saint Kitts and Nevis Property

Do I need to be a Saint Kitts and Nevis citizen to purchase property?

You do not need to be a St Kitts and Nevis citizen to purchase a property in St Kitts and Nevis. However, you must apply for an Alien Landholding License (ALHL) to buy real estate.

Is Saint Kitts and Nevis real estate citizenship expensive?

St Kitts and Nevis real estate citizenship is relatively expensive compared to other Caribbean islands. Prices in the twin-island federation start at $325,000 for real estate shares and $600,000 for a sole investment.

Can foreigners buy property in St Kitts?

Non-nationals may buy real estate in St Kitts and Nevis by applying for an Alien Landholding License (ALHL) or purchasing real estate in St Kitts-approved areas listed in the St Kitts and Nevis citizenship by investment program.

Can I sell my investment after obtaining citizenship?

You can sell your St Kitts and Nevis real estate property after obtaining citizenship, provided you’ve owned it for at least seven years if you bought a private home and five years if you bought real estate shares.

How much does it cost to build a house in Nevis?

According to Nevis real estate websites, build costs in Nevis range from $200 to $450 per square foot, depending on the location, architectural design, and qualify of finish.