The True Cost Of Living In Antigua And Barbuda

Antigua and Barbuda is a highly sought-after Caribbean island, known for its stunning beauty, luxury services, and high quality of life. The cost of living in Antigua and Barbuda is considered more expensive than in most other Caribbean islands. However, it is approximately 20% cheaper than in the US and the UK. The real estate market in Antigua and Barbuda is heavily influenced by tourism, which contributes to rising demand and prices. The average property price per square meter is approximately $1,680, with prices ranging from $255,000 to $12 million for properties such as historic colonial houses to luxury beachfront villas.

Renting in Antigua and Barbuda

Antigua and Barbuda is a highly sought-after Caribbean island destination, known for its exclusive lifestyle, stunning beauty, and high quality of life. The cost of living in Antigua is considered more expensive than in most other Caribbean islands, although it is about 20% cheaper than in the US and the UK.

For those looking to rent in Antigua and Barbuda, there are plenty of great options available, from single-family homes to mobile or recreational houses, apartments, beach bungalows, and villas. The average monthly rent for a one-bedroom apartment in the city centre is $740, while a three-bedroom apartment in the same area will cost approximately $1,450. Outside the city centre, rents are lower, with a one-bedroom apartment averaging $370 per month, and a three-bedroom apartment costing around $1,110.

There are a variety of websites and platforms that can be used to find rental properties in Antigua and Barbuda, such as Point2, Vrbo, and HomeToGo. These websites often provide extra information about the properties, including square footage, amenities, and area demographics, as well as contact information for the real estate agent.

When searching for a rental property, it is important to consider your budget and the specific area you would like to live in. By setting a price range, you can narrow down the options and find a property that suits your needs and financial situation. Additionally, using the map view on these websites can help you determine whether the properties are close to the amenities you require.

Antigua and Barbuda also offers a range of vacation rentals for those seeking a shorter-term stay. These options include condos, apartments, villas, and beach houses, with prices starting from $77 per night. Many of these rentals offer attractive features such as pools and proximity to the beach, providing an ideal setting for a relaxing getaway.

Overall, renting in Antigua and Barbuda provides a diverse range of options, from affordable apartments to luxurious beachfront villas, catering to various budgets and preferences.

Buying property in Antigua and Barbuda

Overview

Antigua and Barbuda is a twin-island Caribbean paradise that offers 365 stunning beaches, world-class sailing waters, and an exclusive lifestyle. The islands boast exceptional beauty, with tranquil turquoise waters and powdery white sands. This captivating destination is well-known for its rich history, vibrant culture, and breathtaking landscapes, making it the perfect setting for a dream Caribbean retreat.

Property Market

Antigua and Barbuda have a relatively small but well-established property market. The islands' real estate market caters to affluent investors, offering luxurious properties in sought-after locations. From opulent beachfront estates to elegant waterside condos, the islands present a diverse range of exclusive residences.

Property Types and Areas

When considering buying property in Antigua and Barbuda, it is essential to define the purpose of your purchase. Whether you plan to live on the island, start a business, or generate rental income, there are various property options available, including studio apartments near the city center or oceanfront villas.

The islands offer a range of residential complexes, private villas, beachfront condos, and luxury resorts. Popular areas for expatriates include Falmouth, English Harbour, Jolly Harbour, Fryes Beach, Half Moon Bay, and Browns Bay. Property prices tend to be higher in these regions.

Costs and Additional Expenses

Property prices in Antigua and Barbuda vary depending on factors such as construction, location, surroundings, size, and age. On average, a 2-bedroom house costs around US $350,000, while a 3-bedroom home can reach up to US $600,000.

When purchasing property, it is crucial to consider additional costs such as the Alien Landholding License (ALHL), legal fees, stamp duty, and commissions for real estate agents or other professionals. The ALHL, which is required for foreign nationals, adds at least 5% to the cost of the property. Legal fees typically amount to 2% of the property value, and both parties in the transaction are responsible for paying stamp duty, with the purchaser paying 2.5% and the seller paying 7.5%. Commissions for real estate agents and other professionals can range from 5% to 7% of the property value.

Citizenship by Investment Program

Antigua and Barbuda's Citizenship by Investment Program (CIP) offers a streamlined path to citizenship for investors and their families. The program requires a significant contribution to the nation's finances, either through a financial contribution to a government fund or an investment in approved real estate projects. The successful applicants gain access to benefits such as visa-free travel to over 150 countries.

Buying Process

The process of buying property in Antigua and Barbuda is relatively straightforward. It typically involves finding the perfect property, making an offer, applying for the required licenses and permits, paying the associated taxes, and seeking legal assistance if needed.

Mortgages

Contrary to popular belief, it is possible for foreign nationals to apply for mortgages when investing in Antigua real estate. International financial organizations and local banks offer financing options for qualifying non-residents looking to invest in, build, or improve properties in Antigua.

Cost of living in Antigua and Barbuda

Antigua and Barbuda is a highly sought-after Caribbean island, famous for its exclusive lifestyle and stunning beauty. The country boasts high-quality luxury services, a constitutional monarchy with a parliamentary government, and 365 beaches.

The cost of living in Antigua and Barbuda is considered more expensive than in most other Caribbean islands. However, it is about 20% cheaper than in the US and the UK. The Antigua currency is the East Caribbean Dollar (XCD), where 1 USD is equivalent to 2.70 XCD.

Eating Out

The food in Antigua and Barbuda is rich and delicious, with an abundance of fresh fish, seafood, and locally grown vegetables. A basic meal in an inexpensive restaurant costs around $9, while a three-course meal for two in a mid-range restaurant is about $92. Street food, such as fungee and pepperpot, can be purchased for just a few dollars. For coffee lovers, a cappuccino costs around $5, while domestic and imported beers are priced at $3 and $3.70, respectively.

Transportation

Private taxis are the most common mode of transportation in Antigua and Barbuda. Alternatively, you can import your own car, but be prepared for high import taxes. A gallon of gas will cost you around $5. Public buses are also available, with one-way rides costing $1.40, and a monthly pass costing $33. Biking is another popular option, thanks to the island's well-developed road network.

Healthcare

Antigua and Barbuda has 25 health centres and two main hospitals: Mount St John's Medical Hospital and the Adelin private clinic. The healthcare system is primarily free thanks to the Medical Benefits Scheme, but it is recommended to have private health insurance for enhanced services. A short doctor's visit in St Johns typically costs around $70, while monthly healthcare costs for a private health insurance policy range from $240 to $375 for a middle-aged expat, including medical evacuation cover.

Groceries

While the cost of groceries and basic necessities in Antigua is relatively cheap, a food budget for imported goods can be higher than average. The average monthly costs for a single person, excluding rent, are around $1,100, while a family of four can expect to spend about $3,900 per month, also excluding accommodation.

Real Estate

For those looking to rent, a one-bedroom apartment in the city centre costs around $740 per month, while a three-bedroom apartment in the same area is approximately $1,450. If you're looking to buy, property prices range from $255,000 to $12 million for various options, including historic colonial houses and luxury beachfront villas.

The Antigua and Barbuda Citizenship by Investment Program

Antigua and Barbuda is a highly sought-after Caribbean island destination, attracting tourists, international families, and expats alike with its beauty, luxury services, and high quality of life. The country's high standing does come with a higher cost of living compared to other Caribbean islands, but it is still about 20% cheaper than in the US and the UK.

For those looking to invest in the country, relocate, or retire, the Antigua and Barbuda Citizenship by Investment Program offers an appealing opportunity to obtain citizenship through significant economic contributions. The program was designed and implemented by Henley & Partners under a government mandate in 2012.

Investment Options:

The program offers multiple routes to acquire citizenship, with options starting at $230,000. These include:

• Contributions to the National Development Fund: A minimum non-refundable donation of $230,000 to support the country's economic growth.
• Real Estate Investments: A minimum investment of $300,000 in pre-approved real estate projects, maintained for at least five years.
• University Fund Donations: A minimum contribution of $260,000 to the University of the West Indies, an attractive option for larger families.
• Business Investments: A minimum investment of $1.5 million in an approved business venture, or a joint investment of at least $5 million with each applicant contributing a minimum of $400,000.

Benefits of the Program:

• Visa-free or visa-on-arrival access to over 150 countries worldwide, including the EU Schengen Area, the UK, Hong Kong, Singapore, and Russia.
• Efficient processing time: Citizenship is typically granted within 3 to 7 months of application submission.
• Right to live, work, and study in Antigua and Barbuda, as well as other CARICOM member states.
• No tax on worldwide income.
• Access to high-quality healthcare and education systems.
• Ability to include family members such as a spouse, dependent children, parents, grandparents, and siblings in the application.
• Attractive place to live or own a second home, with excellent air links to North America and Europe.

Eligibility and Requirements:

To be eligible for the program, applicants must meet certain criteria and requirements, including:

• Age: The main applicant must be over 18 years of age.
• Clean criminal record.
• Due diligence checks: Applicants must pass strict due diligence checks, and false statements or omissions in the application may lead to rejection.
• Legitimate source of funds: Applicants must demonstrate that their funds were obtained legally.
• Investment commitment: Applicants must select one of the four investment options and meet the minimum investment thresholds.
• Dependents: Dependents can be included in the application, such as a spouse, children under 28 or 31 (depending on the source), and parents over 55 or 58.

Application Process:

The application process for the Antigua and Barbuda Citizenship by Investment Program typically involves the following steps:

• Select an authorized agent.
• Choose an investment option and submit the required documents, including a valid passport, proof of investment, health insurance, criminal record, and other supporting documents.
• Application review: The Citizenship by Investment Unit (CIU) is the government authority responsible for processing and examining all applications.
• Approval and investment: Once the application is approved, applicants make the investment and take the oath of allegiance.
• Interview: Main applicants and dependents aged 16 and older are required to attend mandatory virtual interviews.
• Passport collection: Passports can be collected in Antigua and Barbuda.

Residence Requirements:

Successful applicants are required to reside in Antigua and Barbuda for a minimum of five days during the first five years of obtaining citizenship. This requirement may vary depending on the chosen investment project.

In conclusion, the Antigua and Barbuda Citizenship by Investment Program offers a prestigious and efficient pathway to obtaining citizenship and a second passport, providing individuals and their families with global mobility, attractive residency options, and access to high-quality services and benefits.

The cost of utilities in Antigua and Barbuda

The cost of electricity in Antigua and Barbuda is comparable to prices in Europe and the US. The power sector in the country relies entirely on fossil fuels, with petroleum being the primary source for electricity production and transportation. The Antigua Power Company Ltd (APCL), a private entity, supplies approximately 80% of the generated power. Meanwhile, the government-owned Antigua Public Utility Authority (APUA) is responsible for power generation, transmission, and distribution, purchasing most of its electricity from APCL.

Water and sanitation facilities in Antigua and Barbuda are provided by the Caribbean Water and Sewerage Association, a regional organisation that succeeded the Caribbean Basin Water Management Programme.

For telecommunications, the primary company is the state-owned Antigua Public Utilities Authority, which establishes the country's telecommunications infrastructure. Other major providers include LIME, a business venture of the Caribbean Cable and Wireless. The liberalisation of the telecommunications sector led to the government signing a declaration of partnership with the Eastern Caribbean Telecommunications Authority (ECTEL) in 2012, granting Antigua and Barbuda observer status within ECTEL.

Frequently asked questions