Residential Real Estate has over performed last year’s sales achievement at this time by 10.5% in the USA. The stock of properties is depleting. There seems to be a buying up of properties by major Companies with ready cash to ensure their listings are always at a level to attract buyers. Wholesaling and Flipping can be big money spinners as well in the USA.
Market size is always a benefit. The USA has size, diversity and variety. There are many options to those who live in any of the 50 States. There is heavy demand for properties with space to allow families with young children to work virtually from home. This will create space for young people seeking to acquire their first home. While there is no evidence that property prices are dropping, it is encouraging to note that mortgage rates are at an all time low (3.21 %).
Everything is now negotiable and as far as mortgage rates are concerned, in the context of St. Lucia, the timing is perfect to negotiate reasonable rates. The COVID 19 pandemic has not been unkind to St. Lucia. Rather, it is noteworthy that no Deaths have been recorded. Airline companies are opening up back their routes and it can be expected that Foreign Direct Investors, returning residents and other persons interested in securing property in St. Lucia will begin to arrive.
While everyone is awaiting all the routes to be operational, it is interesting to note that foreclosures and private listings are getting active and deals are available at this time. My recommendations for those who are interested in securing property in St. Lucia are 1. Establish relationship with a Banker in the event a mortgage will be necessary. Contact a Real Estate Broker/Agent, and provide the details of their requirements – Location, Lot Size, Land use, with Building – Single family, Apartment, Number of Bedrooms/Bathrooms, etc.
I am very confident that the demand for second homes by expats will substantially increase, given the stellar achievement by our medical professionals in keeping St. Lucia Safe and recording zero COVID 19 Deaths. This will definitely work in the country’s favour.
It is interesting to note that in spite of the uncertainties and anxieties being experienced at the moment, especially with the economies of the world, this may well be the best time to invest in property. It is very likely that prices can increase by up to 25% over the next two years. This type of increase have been possible in recent years.
Ed Harris Real Estate Services will seek out the property of your dreams, whether it is land or land and building. The Agency’s Motto is “Tell us your needs, we bring the experts together.” Through our Network of collaborating Agents, we offer services in the areas of Sales, Rentals and Property Management for Residential, Commercial, Industrial, Touristic, and Agricultural Properties.
Please visit our website and request Free E-books on Investing, and Owning Property in St. Lucia. https://stluciagreatpropertydeals.com
