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What are the costs and fees associated with buying property in Antigua and Barbuda?

Navigating the property market in Antigua and Barbuda requires a clear understanding of the associated costs and fees. When buying property, several financial obligations must be accounted for to ensure a smooth transaction:

Stamp Duty: Typically around 2.5% of the property’s market value, this fee is paid by the buyer.

Legal Fees: Generally ranging from 1% to 2% of the purchase price, these cover the legal work involved in the transaction.

Property Transfer Tax: For non-citizens, this is usually 7.5% of the property's value.

Non-Citizen Landholding License Fee: This license, mandatory for foreign buyers, costs approximately 5% of the property’s market value.

Understanding these costs is crucial for effective budgeting and financial planning.

If you’re specifically interested in properties in Jolly Harbour, Antigua and Barbuda, there are additional factors to consider. Jolly Harbour is a prime location with a unique lifestyle offering, so potential buyers should be aware of community fees, marina costs if you have a boat, and any specific regulations or restrictions within this development.

Before making a purchase, make sure to read up on the legal requirements for foreigners buying property in Antigua and Barbuda to ensure you’re fully prepared for your property acquisition journey.

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