BUYING IN ANTIGUA
Tamarind Hills – buying a property
Buying a luxury villa or apartment at Tamarind Hills is easy and straightforward. Here are the answers to some of the most frequently asked questions.
What are the payment terms for purchasing at Tamarind Hills?
For all properties there is a US$6,000 reservation fee, that takes the property off the market while the contracts are exchanged. For finished properties the deposit is 25%, with the balance due once the non citizens license has been received (when applicable).
For off plan properties the payment plan is :
25% deposit on signing of contracts
25% on foundation
25% on completion of roof
20% on practical completion
5% on handover.
What taxes and other costs are involved?
The usual purchase costs for non-nationals in Antigua are 7.5% of the value of the purchase. This is made up of 2.5% stamp duty, and 5% for the Alien Landholding license.
However, Island Heights Ltd, developers of the project, has received the highest levels of concessions available from the Antiguan Government. This includes passing on a 75% waiver of purchase taxes to first time buyers of Tamarind Hills properties, reducing the 7.5% tax to 1.875%.
There are no estate duties in Antigua, there is an annual property tax currently 0.03%
