Why 2024 is the ideal year to invest in Curaçao real estate
DISCOVERING PARADISE
As we look towards 2024, Curaçao stands out not only for its stunning beaches and vibrant culture but also as a prime destination for savvy real estate investors, especially from Europe, the United States, and Canada. The island, presents an interesting investment environment, particularly due to its evolving economic landscape and investor-friendly policies, making it an increasingly attractive option for property investment.
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How Curaçao's real estate market has been attracting international investors
Priscilla Lotman, Director at UME Front Shore, confirms: “Yes, investors are increasingly drawn to Curaçao’s real estate market, due to the island’s economic stability, strategic location, its skilled workforce, and fiscal options for investors.” From a fiscal perspective, the island’s tax system includes a standard rate of 22% and a more appealing reduced rate of 15% on the first ANG 0.5M of domestic taxable profit. This lower rate is particularly advantageous for managing local income sources such as rental income from Curaçao properties, enhancing the appeal for real estate investment.
Curaçao’s real estate market offers a wealth of opportunities that go beyond fiscal advantages. As a part of the Kingdom of the Netherlands, the island offers a politically stable environment, which, when combined with its unique cultural fusion and expanding expat community, makes it a particularly welcoming destination for foreign investment.
Potential investors should also consider other relevant fees and taxes related to real estate transactions. Before making any local investment, consulting with a tax professional is recommended to understand the full implications of individual investment strategies.
Pool at the spectacular Coral Estate Villa with sea view and private beach, Courtesy of RE/MAX BonBini Curaçao
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Understanding the market dynamics in Curaçao: Insights from Nick Vervoord at RE/MAX BonBini Curaçao
Curaçao’s real estate market has shown resilience and growth over the years, with agents from RE/MAX noting a stable trajectory following the COVID19 pandemic period. While official price statistics for the island are not published, the market had been experiencing steady growth even before the pandemic. “The pandemic actually brought a renewed interest in Curaçao’s real estate,” said Vervoord.
“We have seen a significant uptick in real estate activities.” Vervoord observed, “We saw an increase in property sales, with average prices rising in specific neighborhoods, driven by a spike in demand. Buyers often seek properties in resorts, with ocean views and properties they can rent out to vacationers.”
“The buyer demographic in Curaçao is notably diverse, aligning with the island's rich cultural tapestry,” noted Vervoord. “We see a considerable influx of European investors, particularly from the Netherlands, with a growing presence from U.S, Canadian, Belgium, and German buyers.”
Buying property in Curaçao: The Buying Basics
The process of buying property in Curaçao is straightforward and accessible for foreign investors. There are no restrictions on foreign ownership in Curaçao., “All property transactions are processed through notaries, Transfer taxes and notary fees are also applicable."
Regarding brokerage fees, Vervoord added, “Sellers usually cover the brokerage fees, which are between 4% and 5 % of the sale price.”
For certain buyers, there is an option of applying for an investor permit. For buyers seeking to spend more time on the island, this might be an interesting option.
Villa with Spectacular Sea View and Private Beach, Courtesy of RE/MAX BonBini Curaçao
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2024: A year of unparalleled opportunities for Curaçao real estate
2024 stands as a pivotal year for those considering an investment in Curaçao’s real estate. The island’s fiscal landscape and the wide array of property choices — from luxurious beachfront villas to historic estates — make it an irresistible destination for those seeking both investment opportunities and their own slice of paradise. To illustrate the market's diversity and potential, let's explore some current listings:
Luxurious penthouse at ‘The Ridge’ at the Blue Bay Resort, Courtesy of RE/MAX BonBini Curaçao
Nestled in the elite Blue Bay Resort, the newly built ‘The Ridge’ project is a haven of luxury with stunning ocean vistas. With prices starting at USD 1.275.000 for a 2-bedroom apartment and USD 1.800.000,- for a 3-bedroom penthouse, it features state-of-the-art amenities and private swimming pools on the balconies. ‘The Ridge’ represents the epitome of luxury living in Curaçao," says Vervoord a real estate expert at the RE/MAX Collection, the luxury portfolio of real estate office RE/MAX BonBini.
Designer villa with breathtaking view in the Santa Barbara Resort, Courtesy of RE/MAX BonBini Curaçao
Located in the coveted 'Terrace Estate section of the upscale Santa Barbara Resort, this 607 square-meter exclusive property is on the market for $6.500.000,- It includes 180 degrees ocean views, access to the Santa Barbara marina to moor private yachts, and extensive outdoor areas, all within a sophisticated design. ‘Nick Vervoord’ from RE/MAX Collection remarks: “Terrace Estate offers an unparalleled blend of elegance and exclusivity, catering to the most discerning buyers.”
In sum, Curaçao in 2024 offers a unique blend of fiscal advantages, cultural richness, and real estate diversity. This combination is particularly appealing to investors from Europe, the U.S., and Canada, looking to expand their portfolios in a beautiful Caribbean setting.
Key highlights
Strategic Geographic Position
Curaçao is ideally located outside the hurricane belt in the southern Caribbean Sea. Equipped with multiple ports and a notable deep-water harbor.
Accessibility
The island acts as a central hub, with frequent flights to and from Europe, the United States, South/Central America, and the Caribbean.
Workforce and scalability
With a workforce that is both highly skilled and proficient in multiple languages, Curaçao offers scalable opportunities within the Caribbean region and the European Union.
Technological infrastructure
Impressive internet coverage with 86.7% penetration.
The island hosts 4 data centers, including the exclusive Tier IV center in the Pan-Caribbean area. Key node for undersea cables such as Acros 1, PanAm Americas II, and EC-LINK.
Real estate market
Diverse and high-quality real estate suitable for a variety of residential and commercial operations.
Governance and legal framework
Governed by a robust Dutch legal system.
Political stability that fosters a conducive business environment.
