News

Nevis records unprecedented real estate sales: Premier Mark Brantley

The Cabinet of the Nevis Island Administration met with realtors on Nevis and conducted a discussion which is mainly based on the ways to make the purchase of real estate cheaper

Nevis: The Cabinet of the Nevis Island Administration met with realtors on Nevis and conducted a discussion which is mainly based on the ways to make the purchase of real estate cheaper. 

Through her social media, the Premier of Nevis and the leader of the Concerned Citizens Movement, Mark Brantley, penned down the sales of the real estate and stated that the Cabinet approved the waiver of the 10 percent alien land holding license fee. 

Premier Mark Brantley said that despite being devastated by the effects of the COVID-19 pandemic, Nevis had recorded unprecedented sales on the purchase of the real states. 

He noted, “As part of our post-COVID-19 recovery effort, the Cabinet of the Nevis Island Administration met with realtors on Nevis and sought to find ways to make the purchase of real estate cheaper and easier on the island. As a result of such consultations, the Cabinet approved the waiver of the 10% alien land holding license fee.” 

Shedding upon the official data, Premier Brantley outlined that his policy has been tremendously successful, resulting in a boom in real estate sales. As of June 14, 2022 some 76 villas have benefitted from this waiver resulting in sales of EC$108,013,471.40 and stamp duties to the NIA of EC$8,031,386.54 thus far.

What is now happening also is that many purchasers of villas are engaging local architects and contractors to redesign and renovate these villas resulting in a corresponding boom in construction.

This waiver was set to expire on June 30, 2022, but has now been extended to December 31, 2022 by the Cabinet. Another excellent example of thoughtful policies making a real impact on the Nevisian economy.

Share
Anglina Byron

Recent Posts

Saint Lucia: Ernest Hilaire attends Independence National Baton Relay

Deputy Prime Minister of Saint Lucia Ernest Hilaire attended Independence National Baton Relay that commenced… Read More

8 hours ago

India: Girls practice martial arts barefooted amid heavy snowfall in Kashmir

Beerwah area of Budgam district has reported the girls practicing martial arts amid the heavy… Read More

9 hours ago

PM Terrance Drew attends Social Security 45th anniversary Church Service

Prime Minister Dr Terrance Drew attended the Social Security 45th Anniversary Church Service at the… Read More

9 hours ago

St Kitts: Sandy Point Primary School wins West Zone Public Primary School Championship

Sandy Point Primary School secured victory in the Department of Sports West Zone Public Primary… Read More

10 hours ago

Miss Dominica 2023 contestants visit Costa Fascinosa, experience cruise season

The contestants of Miss Dominica 2023 visited the Costa Fascinosa to experience the cruise season… Read More

11 hours ago

Saint Lucia: Gerson Strikers defeat Meliusm Challengers in Domestic Cricket match

Gerson Strikers secured victory against Melius Challengers in the Saint Lucia 2023 Gros Islet Domestic… Read More

13 hours ago

EXCLUSIVE: Edward Blasters defeats Goodman Warriors in Saint Lucia Domestic Cricket match

Edward Blasters secured victory against Goodman Warriors in the 2023 Gros Islet Domestic Cricket match… Read More

13 hours ago

Dominica Grammar Schools wins U15 Secondary Schools Football Championship

Dominica Grammar School secured victory against the Castle Bruce Secondary School in the Sports Division… Read More

13 hours ago

Dominica: Castle Bruce Secondary School wins Sports Division U17 Football Championship

Castle Bruce Secondary Schools secured victory against the Dominica Grammar Schools in the Sports Division… Read More

14 hours ago

PM Terrance Drew delivers remarks at Governor-General’s installation ceremony

Dr Terrance Drew, delivered short remarks on the historical occasion of the installation ceremony of… Read More

1 day ago