Mikecl

Hi,

Anyone have an idea how much a 1 or 2 bed appartment would cost to rent for 3-6 months in the north of the Island, Rodney Bay or similar. How much would it cost to live a resonable life style?

Thanks

Islander Girl

Hello Mikecl,

I assume that you want a furnished apartment?

The prices differ depending on location. A basic apartment with all you need but not in a prime site (eg Marina or sea view) would be between EC$2000 to EC$3000 but this would go up if you wanted something around the central Rodney Bay Village area.

Local papers generally have a good selection of apartments for rent and are cheaper than if you go via an agent. I rented for a while when I first arrived here and got a good deal on a 2 bed place, in Rodney Heights (great view of marina and caribbean sea) for EC$2000 including water and cable.

A bit of advice - Check what is included in the price too as some places do not include utilities which can boost the monthly cost.

When do you arrive? Are you working while you are out here?

Mikecl

Hi Islander Girl,

Thanks for responding, yes I would like a furnished apartment, am I right in thinking the EC$2000- 3000 would be per month? Not particularly bothered being on the Marina.

At the moment no fixed date for arrival (we visited last October) but the plan is to try and sort out a rental location and the work front if possible. I guess I will need to try and make some contacts and see if getting some work or starting a business is feasible or not.

If it's not an impertinent question and I realise it is relative, but how much does it typically cost to live in St Lucia without going mad on eating out etc?

Thanks

Islander Girl

Hello!
yes that is the monthly rental. However, I would suggest that you buy as property prices are expected to rise about 15% per year for at least the next 2 / 3 years so an investment worth considering. You can rent the property out and earn some rental income if you decide its not for you.

Cost of living is a very personal thing really but I spend about $1500 a month on food for two of us, not including eating out (approx $5 to the £1). You don't have a heating bill (!) so the only electricity is on cooking and lighting which is around $200 a month on my 2 bed apartment. Cable is $60 a month. Not sure on water bills as that is included in my rental deal. Basically is very good and the lifestyle is fantastic.

What sort of business would you look to start?

Mikecl

Thanks for the Info on costs, last visit we used the local mini busses and took a few trips around to get to see some of the island. What do you do for transport do you own a car or do you rent one?

I think you are right with the likely property increase, We had a look last year at a few places being developed we quite liked ,one not far from Windjammer and the other Ocean Breeze both around similar costs to buy.

On the Job front I currently work in IT & Project Management.

pgtips

Another ex IT Bod, there are one or two on the island already.
Good advice from islandergirl about buying now whilst cost are still pretty reasonable.

Mikecl

Hi Pgtips,

Thanks for responding

Did you or the other IT bods manage to find work in that field or have you all changed tack completely, perhaps you no longer working?

On the Property front we would prefer to buy if we can find something to occupy our time and possibly earn a living.


Thanks

pgtips

Change of lifestyle completely.
Most to do with tourism. One guy owns a guest house and runs that as well as doing a bit of real estate.

I will build an apartment or two to generate some rental income below the house I build. I suppose it will be a small apartment complex.

It edepends what you want to do and your financial circumstances.
There is a major overhaul of the Marina going on at the moment and lots of residential communities springing up. I can only see oportunities for those who are flexible and may be willing to try something new or a variation on what they are doing already.

The rush and buzz of London can be exciting and fun for a while but eventually you become drained, normally you start feeling it around the 35-40 age mark and that is when so many people start thinking is there more to life than this daily grind and that is where flexibility plays a part. Some stay for kids and other financial or family commitments but others are just packing up and going.

The way I see the international school places taken so quickly and the expansion of the Montessori schools I can see more and more people are just fed up and trying something new.

Pauljarv

Are people really that confident that house prices are going to go up. I know Islander Girl mentioned 15% for the next 2 or 3 years but where are these figures from? It is possible that I may have the chance of working on St Lucia and would probably be there for 2 or 3 years. We were thinking of renting but if these figures are correct then we have to at least look into buying instead.

I'm just a bit worried about getting into a mortgage at the moment, I know the caribbean is a bit different to the rest of the world but I don't see many places where the growth is so strong.

What interest rates do you pay on a mortgage there? I know in the UK I'd have to have had my job at least 6 months before even trying to get a mortgage, is it similar in St Lucia?

pgtips

Pauljarv, nobody can predict what house prices can be, and prices can fall as well as rise. However there are a lot of improvements to infrastructure and a lot of developments which hopefully will be a good thing.
Personally to me, moving to the Caribbean is more about change of lifestyle for the better, and not worrying whether or not I make a profit on my investment. If you are worried about getting a mortgage and cannot afford to buy outright yet, my best advice to you would be to rent, see how you like the island and take it from there.

Pauljarv

I realise prices rise and fall and renting is what I had planned, it was more the confidence that house prices would rise that intrigued me and I wondered where these estimates had come from. I'm not going there to make a killing on the housing market.

pgtips

I suppose the estimates have come from the healthy capital growth of the last 5 years and the improvements being made on the island, however borrowing cost are ,are expensive compared to Britain. I see a lot of potential, but the first thing I recommend to anyone is get a feel for the island by visiting for an extended period, and see if there could be a niche for you before investing any hard cash.

nessti

I checked some real estate listings and found a 2-bedroom apartment in Rodney Bay available for EC$2500 a month.
Regarding house prices, well I think it will go up, considering that beachfront properties are limited. But the opposite can also happen, who knows for sure...

If you need more info on Rent on Saint Lucia, just click on the link. This website also includes other info like a Buying Guide, list of taxes, rental yields, etc. It helped me a lot when I was planning to buy property abroad.

Good luck on your move.

Mikecl

Hi All,

Thanks for the feedback I was thinking about buying a guest house as it looks like there is not much chance of working in my current field, but according to some info non-locals cant buy guest houses below 10 rooms. The web site nessi suggested was interesting I was a bit shocked about the buying/resale costs.

Thanks

newyorkmets

Hey Islander Girl, I have a quick question for you whats the job market like over there? Also can you recommend any websites that would have Job Listings in St Lucia? Thank you in advance!