The Caribbean countries offering Citizenship By Investment Programmes are moving quickly to implement the Memorandum of Agreement (MOA). The signatories of the MOA are Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St. Kitts and Nevis, and Saint Lucia.
With effect from July 01, 2024, all countries have agreed that the minimum price for any CBI options shall be 200,000 USD. This is now the minimum sum paid into any government fund, government project, or private development project in participating countries.
What to Expect from Caribbean CBI Programs
The memorandum signed by Saint Lucia levels the playing field across the programs and prevents market dumping, thanks to establishing minimum investment and donation figures.
Saint Lucia has gone further, proposing program quotas, requirements for the minimum capital of investors, and a ban on the promotion of citizenship programs by unlicensed investors. It’s unknown whether these amendments will be accepted by other countries of the Caribbean Five.
As part of the MoU, the minimum investment thresholds for Caribbean CBI programs rose twice from the previous donation of 100,000 USD to 200,000 USD. State fees and processing costs by licensed agents will increase that number. Any discounts will be deemed illegal.
The new figures vary depending on whether people opt for the donation or real estate investment route. For example, the minimum threshold for investments in property in Grenada is now $270,000, $325,000 in Antigua and Barbuda, and $300,000 in Saint Lucia (all plus processing fees).
How do these numbers resonate with the housing markets in the countries that entered into the agreement? As a global marketplace for luxury and investment real estate, JamesEdition explores housing prices in the Caribbean.
Caribbean Price Report
The average listing value for luxury real estate in the CBI Program countries listed on JamesEdition (Saint Kitts and Nevis, Antigua and Barbuda, and Grenada) ranges from $1,858,000 USD to almost $3,000,000.
Saint Kitts and Nevis homes have an average listing price of $1,858,000 or $5,415 per sqm. Antigua and Barbuda real estate is priced at $2,943,000 per listing or $6,955 per sqm. Grenada has an average listing price of $2,224,000.
At the same time, $500,000 can buy you an ocean-view suit with a jacuzzi in Antigua and Barbuda or a three-bedroom resort villa in Saint Kitts and Nevis.
At the top end of the market, there is a $4.95M private island in Grenada, a $12M, six-bedroom home in the prestigious area of Turtle Bay in Antigua and Barbuda, and an $8,75M, four-bedroom home within the Four Seasons Resort in Saint Kitts and Nevis.
The countries offer multiple investment opportunities, including land and “paradise islands” for development or completed beachside projects with hotel facilities
The Caribbean housing market remains strong, with the countries maintaining their appeal to foreign buyers thanks to their comparatively low investment thresholds, diverse real estate options, and passports ranked in the top 30 in Hanley & Partners Global Ranking
