“Buy land, they’re not making it anymore.” – Mark Twain.
The real estate market in Saint Lucia is experiencing a proliferation of new agents in an unregulated environment. Developers are very active, mostly in bringing new lands to market, while the movement of properties for sale is almost at a standstill due to the economic turbulence being experienced over the past three years. Inventory of rental apartments is declining, and there is an urgent need for introducing new properties.
Realtors Association (St. Lucia) Inc. website is no longer active, and the Association itself is somewhat inactive as members await the Government’s intervention to regulate the industry. This process has been ongoing for almost two decades as Realtors continue to actively pursue the present Government to enact urgent legislation to regulate the industry. Too many actors are engaged in the real estate industry on island, with lawyers, accountants, and other professionals actively participating in the industry. A few law firms have established real estate agencies within their offices.
The time has come for the industry to be fully established in an effort to save persons who have already gained professional knowledge from leaving. There are several related services that can be established to broaden employment opportunities within the industry.
As the Government advances its land development and distribution programmes, and housing projects targeting low to medium income earners, the opportunity for land and property sales will be further reduced. As a result, the rationalisation of the industry needs to be undertaken with urgency. This should not be done by Government alone but with the full involvement of the Association where the latter should aggressively self regulate the industry in preparation to accept their responsibility when the Government finally decides to do the right thing. It is time that the Real Estate Industry be given the same amount of respect given to other professional organisations and their membership.
The future of the real estate industry is very uncertain as we seek to arrive at the future direction of the industry. In the meantime, there remain a lot of opportunities for investors seeking great deals to invest in, whether they are seeking residential, commercial, industrial, touristic, or agricultural real estate.
St. Lucia continues to be a great destination for business, pleasure, working remotely, and retirement. Its citizens are welcoming and friendly, and speak English and Patois. They are educated and easily trained. It is a great place to live, work, retire, and play.
Tell us your needs, we bring the experts together. We take every enquiry seriously and commit ourselves to provide excellent services whether you are buying, selling or renting property within all regions of the island.
To our clients and friends everywhere, we are ready to help you build generational wealth. Please visit our website at https://stluciagreatpropertydeals.com
Here is our property of the month.
Stay tuned.
Edward Harris
Blogger/Business Consultant/Realtor/Broker
Mobile/WhatsApp: 1-758-485-1456
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