CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
|JOLLY HARBOUR, ANTIGUA|
|Population||0.067 million persons|
|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 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.
|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.
|Tax||Income Tax||Capital Gains Tax|
|No up to date published data||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|
|Climate:||Hours of Sunshine Per Day in Summer||Days of Rain Per Year||January||July||Average|
|11||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.
|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-|
|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%|
Demand for letting
|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.
|Jolly Harbour Villa Sales||PO Box 1793, St. John's Antigua, West Indies||+268 462-3085||www.jollyharbour-marina.com/real.html|
|TBS Realties||P.O. Box 1557|
St. John's, Antigua, West Indies
|Antigua Estates||PO Box 118|
|+268 562-56 22/24||www.antiguavillas.uk.com|
|TBS Realties||P.O. Box 1557|
St. John's, Antigua, West Indies