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.
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.
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.
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.
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.