Verified Facts
The property market in Saint Helena is relatively small and limited, with a restricted number of properties available for sale or rent, but foreigners can buy property with certain restrictions and requirements.
Quick Facts
Market Overview
The property market in Saint Helena is characterized by a limited supply of properties, which can drive up prices and make it challenging for buyers to find available properties. The market is also influenced by the island's remote location and limited access to amenities and services. Despite these challenges, the market has seen a steady increase in prices over the years, driven by demand from locals and foreigners looking to invest in the island's unique and historic properties. The urban areas, such as Jamestown, tend to be more expensive than the rural areas, where properties are often more affordable but may lack access to amenities and services.
The price trajectory of the property market in Saint Helena has been steadily increasing, with a focus on redevelopment and restoration of historic properties. The government has implemented initiatives to encourage the development of new properties and the renovation of existing ones, which has helped to drive growth in the market. However, the market remains relatively small, and prices can be volatile due to the limited supply of properties.
The rural areas of Saint Helena offer a more affordable option for buyers, with prices significantly lower than in the urban areas. However, these areas often lack access to amenities and services, and may require buyers to be more self-sufficient. Despite these challenges, the rural areas offer a unique and peaceful living experience, with stunning natural beauty and a strong sense of community.
Prices by Area
| Area/City | Buy (per sqm, USD) | Rent (monthly, USD) | Type |
|---|---|---|---|
| Jamestown | 1,500 | 800 | Apartment |
| Half Tree Hollow | 1,200 | 600 | House |
| Longwood | 1,000 | 500 | Bungalow |
| Sandy Bay | 800 | 400 | Cottage |
| Levelwood | 700 | 350 | House |
| Alarm Forest | 600 | 300 | Land |
| Saint Paul's | 500 | 250 | Apartment |
| Blue Hill | 400 | 200 | House |
Foreign Ownership Rules
- Foreigners can buy property in Saint Helena, but they must obtain a license from the government, which can be a lengthy and complex process.
- Foreigners are restricted from buying certain types of properties, such as crown land, which is owned by the British government.
- Foreigners can set up a company to buy property, but this requires a significant investment and can be subject to taxation.
- Foreigners must also comply with immigration rules and regulations, which can be complex and subject to change.
- Foreigners may need to obtain a permit to renovate or develop a property, which can be a lengthy and bureaucratic process.
Buying Process
- Research the market and identify a property that meets your needs and budget.
- Contact a real estate agent or lawyer to guide you through the buying process.
- View the property and assess its condition and potential for renovation or development.
- Make an offer on the property, which must be accepted by the seller.
- Apply for a license to buy the property, which can take several months to process.
- Conduct due diligence on the property, including a survey and valuation.
- Negotiate the terms of the sale, including the price and any conditions.
- Complete the purchase and transfer the ownership of the property.
- Register the property with the government and obtain any necessary certificates.
- Pay any taxes or fees associated with the purchase.
Rental Market
- The rental market in Saint Helena is relatively small, with a limited supply of properties available for rent.
- Tenant rights are protected by law, and tenants have the right to a fair rent and safe living conditions.
- Typical lease terms are 6-12 months, with a deposit equivalent to 1-2 months' rent.
- Properties are often unfurnished, but may include appliances and white goods.
- Renters must comply with immigration rules and regulations, which can be complex and subject to change.
Investment Tips
- Emerging areas, such as the rural districts, offer opportunities for investment and development.
- Renovation and restoration of historic properties can be a lucrative investment opportunity.
- Tourism is a growing industry in Saint Helena, and investing in tourist accommodation can be a good option.
- Agriculture is also a significant sector, and investing in farming or livestock can be a viable option.
- Property management is crucial to ensuring a successful investment, and hiring a local property manager can be a good idea.
- Legal considerations, such as taxation and immigration, must be carefully considered when investing in Saint Helena.