St Lucia real estate offers many opportunities for people who want to invest in the rental market. Buying a property for long term leasing requires careful consideration. In order to ensure that your property has a high occupancy, you must purchase in the right location. Investing in an area for which there is a high demand will make your life as a landlord profitable and fulfilling! Here are my 3 top choices of locations for purchasing St Lucia real estate for long-term renting.

Tapion

Tapion, located along the southern border of Castries harbor is appealing by virtue of its beauty alone. It is a very scenic area with views of the harbor and Caribbean Sea. From here, cruise ships entering and leaving Castries are an impressive sight! This sea side neighborhood, with its constant breezes, is great for taking morning or evening walks. Tapion also has a small beach used mainly by residents.

Only 5 minutes from the center of Castries, Tapion is a very appealing location for people who work in the city. The area is also home to many well established institutions such as the Tapion Hospital, St Lucia School of Music, Police Training Academy and Tapion School. Doctors, nurses, teaches and civil servants therefore provide a steady demand for apartments in the area.

This Tapion Apartment Building has a Great View!

The Building has 3 Apartments. They all have Large Balconies!

Corinth

Corinth, located in the district of Gros Islet, is a great location to buy a rental property. It is right in the middle Castries and Rodney Bay, the 2 main commercial centers in St Lucia. This makes it an extremely convenient housing location for the thousands of people who work in these towns. Being 10 minutes from Rodney Bay is particularly appealing for many renters as this is a lively, hip and fast developing part of St Lucia.

Corinth has many facilities for residents including a gym, supermarket and a secondary school. These are very appealing to renters and increase the desirability of the area. The location is also home to numerous small businesses as well as large corporate enterprises such as LIME. There is therefore always a strong demand for apartments in Corinth.

This Building in Corinth has 3 Apartments, which are easily rentable!

The Apartments are Move In Ready. Corinth is an Area in High Demand!

Beausejour

The community of Beausejour is a relatively new frontier in St Lucia real estate. The neighborhood sprang to life with the establishment of the Beausejour Cricket Stadium in 2002 – one of the most modern cricket stadia in the Caribbean. The construction of the stadium opened up a previously virgin part of St Lucia. Numerous housing projects later, Beausejour is now an extremely desirable residential area in the north of the island.

Beausejour is only 5 minutes from the town of Gros Islet – a legendary night life hot spot. Rodney Bay is also a short drive away. This means residents of Beausejour have quick and easy access to some of the best amenities the island has to offer. The Pigeon Point and Reduit beaches are also within proximity of Beausejour. This is a lively, up and coming area with a steady flow of demand for rental apartments.

With a Total of 6 Bedrooms, this Beausejour Apartment Building is a Great Investment!

The Building has a Lovely Ocean View!

If wisely chosen, an investment in St Lucia real estate will reap financial rewards. The first step is choosing a location that will ensure a high ROI. Residential areas close to urban centers are in high demand for people seeking apartments for rent. This is usually a great place to start if you want to invest in an apartment building.

The offer and subsequent negotiation determine whether one will make the transition from buyer to owner of St Lucia real estate. This makes the offer the pivotal point of a property transaction – a point which must be approached wisely. You don’t want to overpay for a property. At the same time, making an offer that is too low may offend the owner and cause you to lose the property before the negotiations even begin. The following points will guide your approach to making offers on St Lucia properties.

Supply and demand of St Lucia Real Estate

The balance of supply and demand is one of the biggest clues on how aggressively one can negotiate the price of St Lucia real estate. In a hot sellers’ market, many buyers will be competing over a small stock of properties for sale. In this case, the seller has the upper hand and will be less likely to reduce their price.  However, when the reverse is true, many property owners are competing over a handful of qualified buyers.  Buyers are at liberty to negotiate at will. When on the hunt for St Lucia properties, it is therefore critical to know what type of market conditions you are operating in.

Price of similar St Lucia Properties

Before making an offer on St Lucia real estate, gauge fair market value for the property by comparing it to similar properties that have recently been sold. This will tell you what other buyers, operating under open market conditions are prepared to pay for a similar property. Factors that one should consider when making a comparative analysis of St Lucia properties are their location, size, age, quality of architecture and construction and type of view.  Estimating property values is a delicate science which requires consideration of all of these factors. For instance, 2 equally sized properties located side by side may have completely different values if one is 10 years old while the other is brand new.

Seller’s Motivation and Terms of Offer

A piece of St Lucia real estate may be up for sale for any number of reasons. A seller who is under pressure due to financial and personal obligations will be more likely to negotiate than one who is prepared to wait until the right offer comes along. For example, a developer, who sells St Lucia properties as their primary source of income, calculates their costs and expected revenue before construction even begins. This type of person may be less likely to reduce their price as they have fixed costs to cover. The seller will also consider the terms of your offer. A cash offer is far more appealing than one for which financing must be sourced from scratch. When buying St Lucia real estate, someone with large savings has far more negotiating power than one who is seeking 100% financing.

Negotiations are a balancing act. All of these factors affect the flexibility of the price of any piece of St Lucia real estate. The buyer and seller both want a good deal and the sale often depends on whether the parties are willing to compromise.  The best advice is to approach the negotiation with a win-win attitude. Keeping all these factors in mind, seek a fair and amicable common ground. A seller is more likely to want to negotiate with someone who is reasonable, than one who is trying to break them down. Practice this tip and you will find that your negotiations for St Lucia properties will be far more satisfying.