JOLLY HARBOUR, ANTIGUA

JOLLY HARBOUR, ANTIGUA

Population

0.067 million persons

PopulationGrowth

0.760%

Land Area

440 sq km

Currency & currency rate

1 East Caribbean Dollar = 100 cents

(~ 0.205 GBP)

GDP-PPPMethod

500.0 millions of US dollars

GDP Growth

-1.350%

GDP Per Head

7,464.0 Thousands of US Dollars Per Person

Financial

Interest Rate

Inflation Rate

National Bank

Offshore Financial centre

Political

Antigua and Barbuda has Her Majesty Queen Elizabeth as the head of State with a Westminster style Parliament. The Prime Minister, Winston Baldwin Spencer advises on the appointment of the Governor General. Antigua & Barbuda have their own separate councils with wide-ranging powers.

Antigua and Barbuda became an independent member of the Commonwealth in November 1981. Government is democratically elected at least once every five years and The United Progressive Party (UPP) won elections held on 23 May 2004. Relationships between the two islands are not always harmonious.

Social Security

Languages

English (official); also Patois and various other local dialects

Customaries

It is not a good idea to wear scanty clothing or beachwear in towns or villages and is generally not accepted. Relatives and good friends generally embrace upon meeting each other. Smoking is accepted in most public places. Although gifts will generally be well received, they are normally only given on celebratory occasions.

With regards to the history and customs of the islanders, most of the Antiguans are of African descent with ancestries brought to the island as slaves hundreds of years ago to labour in the sugar cane fields.

Ethnic Make-up

African ancestry

European ancestry (predominantly British and Portuguese)

Arab ancestry (predominantly Syrian and Lebanese)

Small minority of Asians (predominantly Indian and Chinese)

Mixed ancestry

Tax

Income Tax

Capital Gains Tax

No up to date published data

Description

One the major and consistently encouraged industries in Antigua is tourism, and Antigua itself was one the earliest of the Caribbean islands to actively promote tourism. Nowadays, Financial sector and tourism are the most important source of economic prosperity, accounting for roughly 75% combined. However, Antigua has had some years of slightly fluctuating economic performance, primarily due to large debt. In addition to this, destructive hurricane patterns and the concerns of post September 11 attacks had some impact on the tourism business initially, but is now steadily picking up to normal levels.

Other major industries are construction, light manufacturing, agricultural products such as cotton, fruits, bananas, coconuts and mangoes to name but a few. The major trading partners with Antigua are OECS, Barbados, Guyana, Trinidad and Tobago, UK, Canada, and the US.

Investor Profile:

Cash & Equity Investor

Pension Investor

Holiday Investor

Retirement Investor

Downshifter Investor

Business Investor

Category:

Gold

Population:

Total

British

10,000

500

Climate:

Hours of Sunshine Per Day in Summer

Days of Rain Per Year

January

July

Average

Water Temp.

42 inches per year

24⁰C (76⁰F)

30⁰C (86⁰F)

26C

Proximity to:

Airport

Beach

Nearest City

V.C. Bird International Airport

8km (5 miles) northeast of the capital, St John’s. Jolly Harbour is a 20 minute drive from St Johns.

As Jolly Harbour is located on a peninsula, there are two gorgeous white sand beaches

St Johns

Restaurants and bars:

The shopping centre is located in the centre of the resort and is the hub of the resort's day and night activities.

There is an excellent choice of restaurants in the area from local Caribbean fare to delightful international cuisine. There are some casino’s should you fancy a game of roulette, yet the relaxed bar atmosphere in Jolly harbour and around the marina is more directed for couples or families.

Sports and leisure facilities:

Water sports include diving, sailing, exploring. Sailing is a big sport in Antigua, which is a major yachting centre that hosts the annual internationally recognized Antigua Sailing Week. Tennis and golf are also important to a select few and there is an 18-hole golf course.

There are many athletics, cricket and football clubs. Cricket is the national sport.

Transport:

Public Transport

Roads

There are some local bus services and taxis are available throughout Antigua

The roads are in good condition and offers links to most villages

Crime rate:

Antigua is relatively crime free, but normal precautions should be exercised.

Main types of employment

Tourism and services

Future plans:

To maintain the activities and increase tourist facilities.

Yield range

10 – 15%

Type of property

Entry Price

Rent-

Peak

Rent-

Off Peak

Average Annual Yield

2 bed apartment

£125,000

£1900

£1400

15.3%

3 bed apartment

£275,000

£3000

£2200

10.9%

3 bed townhouse

£320,000

£3000

£2900

11.6%

Detached

£350,000

£3200

10.9%

Demand for letting

Peak

Off peak

Extremely High

Very High

Finance and leisure scores:

Total (out of 10)

Financial (out of 5)

Leisure (out of 5)

Flights scheduled from:

London Gatwick, London Heathrow, Manchester, Birmingham

Typical cost of flights:

Peak

Off Peak

800 GBP – 2200 GBP

480 – 1200 GBP

Operators:

British Airways, BWIA, Virgin Atlantic, Air 2000

Description:

Antigua is well known as "the beach with an island in the middle”. Its famed countless, silky beaches are surrounded by clear blue seas and are cooled by light breezes. Jolly Harbour offers comfortable and stylish Waterfront and Golf Course homes and building plots, in a tropical setting of coconut palms and perennial flowers.

To get here is expensive and to buy is expensive. This is the only reason why this area did not get 5 out 5 for the financials. However the yields stack up offering double digit yields for all property types. I recommend this area for the wealthier readers as entry to the market is high.

It is a well linked country actively trading with its neighbouring countries. Re-sale for a property here will not be a problem and I suspect capital growth will be above average due to such healthy yields being achievable all the year round. With a low inflation rate, a sensible interest rate and relative political stability I would shoot this area to the top of your list if you are considering the Caribbean cities only.

Hot Website:

www.antigua-barbuda.com/tourists

Estate Agents:

Name

Address

Tel

Web

Jolly Harbour Villa Sales

PO Box 1793, St. John's Antigua, West Indies

+268 462-3085

www.jollyharbour-marina.com/real.html

jollyhbradv@candw.ag