House hunting in Anguilla: modern elegance, steps away from the Caribbean

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A 6000 sqm villa by the sea in Anguilla

$3.5 MILLION

This contemporary six-bedroom villa on the south coast of Anguilla overlooks a small beach with a cove into the Caribbean Sea. The three-story home, built in 2006 on 0.65 acres in the LockRum Bay area, sits about 25 feet above sea level and has 6,000 square feet of interior space, with hurricane-resistant windows and doors, said Elaine Hearn, a co-founder of Properties in paradise, which has the offer. Numerous balconies and patios surrounding a pool and synthetic turf field offer views of the nearby Caribbean islands of St. Martin and St. Barthélemy, she said.

“The property has a sea front and access to a small cove via a natural stone staircase, which is great for snorkelling,” said Ms Hearn. “All of Anguilla’s beaches are public, but I’ve never seen anyone in that bay except the owners of the four houses around it.”

A circular driveway approaches a portico that opens to a foyer with a curving marble staircase. A few steps from the foyer lead to the lounge and dining area, with large sliding glass doors leading to the pool terrace. An adjacent games room with a pool table leads into the kitchen, which has an island, granite countertops, a blue tile backsplash and a dining area with built-in chairs. The game room also opens out to a covered patio furnished for dining, as well as the 52-by-13-foot pool. The first floor also has a gym, bathroom, laundry room and storage rooms.

The villa’s furniture, mostly imported from Europe, is included in the asking price. Floor tiles are a mix of marble, travertine, sandstone and local coral stone.

The second floor has four en-suite bedrooms, all with access to an extensive balcony with sea views. Each bathroom is tiled in marble and has a glass-enclosed shower; two have full baths and walk-in closets with built-in shelves.

The third floor has a central living room with a balcony and kitchenette, flanked by two en-suite bedrooms with walk-in closets and sandstone tiled bathrooms.

There is air conditioning throughout the house, as well as three outdoor showers. The property, which has parking for at least six cars, is landscaped with cottonwood, palm trees, bougainvillea and hibiscus. Plans have been approved to build a separate one-bedroom structure, Ms Hearn said.

The villa is a short drive from the village of Blowing Point, where the Anguilla Ferry Terminal is located, and Rendezvous Bay Beach, a two-mile stretch of white sand. The Valley, Anguilla’s capital of around 1,000, is a 10-minute drive away, Ms Hearn said. There is also a golf course, tennis academy and boat excursions nearby. Anguilla International Airport, which receives non-stop flights from Miami, is approximately eight minutes from the villa. Visitors can also fly into St. Maarten and take a 20-minute boat ride to Anguilla.

Market overview

The housing market in Anguilla, a British Overseas Territory of about 15,000 inhabitants in the eastern Caribbean Sea, suffered from the tandem shocks of Hurricane Irma in 2017 and the coronavirus pandemic in 2020, but has recovered in the past year, said Neil Freeman, a manager at Freeman Caribbean Investments.

Anguilla does not publish official home price statistics. However, Mr Freeman said that after the government lifted quarantine requirements for vaccinated visitors in July 2021, tourism, which dominates the island’s economy, boosted and boosted property sales.

While government statistics show that tourism in 2021, with 28,696 arrivals, is down 82.7 percent from 2019, this January saw some of the island’s highest tourist numbers in recent years, according to the Anguilla Tourism Board. The number of arrivals with intermediate stops increased by 22 percent from the board’s base year 2016.

This was in part due to nonstop flights from Miami, which started in December 2020, said Lisa DeLong, a real estate sales manager at Tranquility Beach Anguilla, a new 15-family condominium complex — the first of its size in a decade. .

Flights from Miami, as well as increased traffic from Puerto Rico and the U.S. Virgin Island of St. Thomas, “have been a major factor in increased tourism and investor interest,” as well as relaxed visitor access protocols, Ms. DeLong said. “Being able to skip the extra transfer in St. Maarten and be at the beach in Anguilla earlier is a game-changer and makes a weekend getaway from the US viable.”

Mr Freeman, director of Tranquility Beach Anguilla, said more than half of the development’s 15 units have been sold in the past 10 months, including about $4.2 million worth of units in recent weeks. Two-bedroom beachfront units cost $1,100 per square foot, while other units cost as little as $750 per square foot, he said.

At the same time, the market for villas is moving fast, he said: “I have heard of several villa owners who have received, often unsolicited, offers for sale for almost double the value of a few years ago and have chosen to hold on to it. “

Initiatives such as Anguilla’s Residency by Investment program — which launched in June 2019 and offers permanent residency to foreigners who invest at least $750,000 in real estate in Anguilla — can bolster the island’s economy. Launched in August 2020, the Digital Nomad programme, which allows travelers to work in Anguilla for three to 12 months, has been a new boon to the real estate market, attracting more than 500 applicants, brokers said.

“After fleeing the pandemic, people have realized that they don’t have to be tied to a city or physically present to do their jobs,” said Janine Edwards, the administrative director of Sunset Homes Anguilla and a director from Tranquility Beach Anguilla.

A lack of inventory in other Caribbean islands considered competitors to Anguilla, including: Turks and Caicos Islands and Saint Barthélemy, may also affect Anguilla’s housing market, Ms Hearn said. “Since the borders reopened, sales have been good, especially in the under $1 million range,” she said.

Among the qualities that attract foreign homebuyers to Anguilla, a 35-square-mile flat island of coral and limestone, is a famously laid-back and friendly locals, favorable tax laws, exceptional beaches and restaurants, and a low crime rate. said Hearn. “There are no casinos, no fast food chains, no estate taxes and no capital gains,” she said.

Homes on Anguilla are more expensive than in countries like Costa Rica and Jamaica, but a better deal than comparable homes on neighboring islands, Freeman said. “Anguilla properties range from $1,000 per square foot to $1,500 per square foot for beachfront locations, and $500 to $1,000 for inland or waterfront locations with a rocky shore,” he said. “In St. Bart’s and Turks and Caicos, prices are higher, from $2,000 to $3,000 per square foot.”

Who buys on Anguilla

About three-quarters of foreign buyers on Anguilla are from the United States and about 10 percent are from Canada, Mr Freeman said. “Anguilla attracts a mix of snowbirds, retirees and high net worth individuals,” he said. “Specifically at Tranquility Beach, we sold to several young families looking for investment income.”

Many of the remaining foreign buyers are British, Ms Hearn said. “The island is so small, there aren’t any bad areas to buy, but many buyers are looking to the West End, where most of the five-star hotels are, including Belmond Cap Juluca, Four Seasons, and Aurora Anguilla Resort and Golf Club,” she said. said.

Buy base

Foreign buyers on Anguilla must apply for an Alien Land Holding license, a fairly straightforward process with a $400 application fee that typically takes between one and four months, brokers said.

There is a 5 percent levy on the Immigration Permit, along with a 5 percent real estate transfer tax on the sale of a property.

“For Tranquility Beach Anguilla, the license fee has been reduced to 2 percent, based on the number of days the apartments are available for vacation rental,” said Ms. DeLong.

In general, purchases by foreigners are limited to half a hectare (excluding commercial developments), and housing construction must be completed within 30 months, although exceptions are made, Ms Hearn said.

Although the official currency of Anguilla is the East Caribbean dollar, many transactions are conducted in US dollars. Buyers often hire a local attorney, which typically costs about 1 to 2 percent of the sale price. Sales commissions are typically 5 percent and are paid by the seller.

Mortgages from local banks are available. “Interest rates are about 6 percent right now,” Ms Hearn said. “Most of my buyers pay cash.”

Websites

Languages and currencies

English; East Caribbean Dollar (1 East Caribbean Dollar = $0.37)

Taxes and Duties

The annual property tax on this villa is approximately $2,500. Foreign owners who choose to rent out the villa will have to pay an annual license fee of about $1,000 to the government, Ms Hearn said.