British Airways Boost St Lucia Property Developers

  • 15 years ago
  • Uncategorized
New flights to St Lucia, starting this autumn from the UK, USA and Germany will provide a significant boost to tourism and are welcomed by on-island property developers. Resort developer, The Landings, a luxury development based around a private yacht harbour near Rodney Bay believes it will increase demand for holiday lettings and make second homes more accessible for owners.
British Airways are increasing their direct flights from Gatwick to St Lucia from three to five times per week from October 2009. There is also a new weekly service from Frankfurt, operated by Condor starting from 1st November 2009 and in the US Jet Blue has announced a new service from New York to St Lucia with three flights per week from October 26th 2009. Virgin already flies three times per week from Gatwick.
The new flights to St Lucia will serve as a boost to those serving overseas property buyers. The Landings, a luxury development based around a private yacht harbour near Rodney Bay believes it will increase demand for holiday lettings and make second homes more accessible for owners.
“ Ollie Gobat, Sales Director at The Landings says: “The additional airlift gives a big boost to the island’s tourism as quite simply more people are able to visit us. Last September, British Airways only operated two indirect flights to St Lucia per week, so to now have five direct fights plus the new flights from New York and Frankfurt is going to have quite an impact. It not only makes us more accessible for second home owners but it means there is likely to be a greater demand for holiday lettings from the additional visitors, which will provide more rental income for owners that rent their property out. At The Landings, owners can put their residence in our rental pool and they enjoy a ten year tax holiday on the income generated.”

Providing an additional benefit for property buyers is the island’s tax friendly regime. In an effort to accelerate tourism projects the St Lucian government stepped in to provide a rental income ‘tax holiday’ for property buyers.  In addition there is no VAT on property, no capital gains tax and no inheritance tax. There is a bill currently going through Parliament which is likely to allow foreigners who invest in St Lucian property over £211,000 to become a resident of St Lucia, which will bring with it further tax benefits.

St Lucia, which is part of the Windward Islands chain in the West Indies, is characterised by a lush, tropical and naturally scenic landscape that remains unspoiled. Visitors to St Lucia consistently remark on the friendliness of the locals who genuinely welcome visitors and delight in telling them proudly about their island.
The Landings is now in its third phase of construction, and still on track to complete on schedule.
Situated on 800ft of pristine beach front, overlooking Rodney Bay and the historic landmark of Pigeon Point, apartments at The Landings are all located on the water’s edge either around the harbour or on the beach. Built in a traditional Caribbean architectural style, there is a choice of one bedroom (1319 sq. ft), two bedroom (1850 sq. ft), three bedroom (2638 sq. ft), three bedroom grand residences (3390 sq. f), and a four bedroom townhouse (3700 sq. ft). Apartment and balcony sizes are generous with many properties having balconies at the front and rear of the property for alfresco dining and enjoying sunset cocktails. All are finished in high quality materials such as stainless steel, exotic wood, imported tiles and stone.
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, that states all land within 20 metres from the shoreline is owned by the government and can only be leased, does not apply.
The Landings facilities include a beachfront restaurant with views over Rodney Bay, a private yacht harbour for 80 boats, a beautiful white sand beach with many water sports on offer, a luxurious 7000 sq. ft spa which features indigenous signature treatments made from local ingredients, hydrotherapy terraces and a spa menu for younger visitors plus a fully equipped gym.
The development been recognised by the prestigious Bentley International Property Awards who named it ‘Best Caribbean Development’ and ‘Best Marina Development Worldwide’.

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