| Sales |
 |
Rentals |
|
Vacation Ownership |
|
Hotels |
|
St Martin
|
Home Page
|
Email Alert get a notice of new listings |
At the centre of it, in a spectacular bay in the small capital of Marigot there are no fewer than 50 restaurants, and as many shops where you can take advantage of the town's tax-free status. Or on Wednesdays and Saturdays, visit stalls selling local art, crafts and food in the square to Grand Case, with its French, Italian, Vietnamese and West Indian restaurants that have made the town one of the gourmet centers of the Caribbean. Away from the busy towns, visitors will find a wide choice of breathtakingly beautiful beaches and bays, some of them popular and lively, others quiet and secluded of which some can only be reached by boat. Welcome to St. Martin’s strikingly Caribbean French way of life.
Real Estate in St. Martin
Saint Martin, is found at the top of the chain of islands that form the Lesser Antilles and is just over 180 miles (300 km) east of Puerto Rico. The land is 31 square miles out of the total 53 miles (87 km˛) shared with St. Maarten, its Dutch counterpart.
It is the smallest island in the world shared between two different nations. For almost 350 years, the French and the Dutch of St. Martin/St. Maarten have lived exclusive to each other and yet not really what with a border no more than a sign on the road saying "Welcome to St. Martin" or "St. Maarten".
Each side retains much of the distinctiveness of its own national culture. St Martin, with its unique comfort and elegance with lavish accommodations and refined restaurants and French shops, to small cafes and bistros; make you know you are in France. While in St. Maarten with a busy cruise port, the second busiest airport in the Caribbean next to Puerto Rico, plus a bustling commercial district, and casino night life is more developed but more informal, all with a very Dutch flavor. What one side may not have the other will, to find just about every kind of activity or shop one may want. Who wouldn’t want to have a second vacation home here.
Governed from the much larger island of Guadeloupe and ultimately France, St Martin is a fully European territory and follows the same standards and laws as continental France. Thus buying property in St. Martin, you are protected by French law.
In purchasing real estate on St. Martin, as on the Dutch side of St. Maarten, the European notary system is used and a Notaire (Notary) is responsible by law to handle all real estate legal transactions for both parties; both the buyer and the seller. A Notaire as opposed to a lawyer is a public official whose duty is to represent the French Government and is responsible for completing and obtaining all necessary documentation, thus a personal attorney is not necessary, let alone two different personal attorney’s.
Closing costs on St. Martin are between 9%- 11% with the transfer tax, registration tax and surveyor's costs included in the closing costs. There is also an annual property tax. If you own a property that you rent out on a short term rental basis you are responsible for income and profit tax of 20%, however you can deduct most of the expenses in owning such as maintenance, insurance and improvements. And the longer you own your property in St. Martin, the less capital gains tax you will pay otherwise you will pay the 33 1/2% capital gains tax. If however a property is owned by the expat for 15 years, it is then free and clear of any Capital Gains Tax. Every year after the first 5 years of expat home ownership there is an allowance of 10% off the capital gains, thus by the 15th year zero capital gains is achieved.
There are no residency requirements or legal restrictions limiting foreign home ownership in St. Martin. If you're planning to reside on the island for an extended period, you will need to obtain the necessary legal status for long-term stays and obtain a long-stay visa through the French Consulate or Embassy for visits extending past 90 days. You may stay in the country without a visa however for a stay of up to 90 days.
Expats wanting to purchase property to reside in St. Martin/France must apply for permission and clearance. It is a process that takes about three months and includes background, economic and citizenship checks, registration with the Government, health checks and proof of income but this timing can coincide with the purchasing date. As there are definite advantages of becoming a resident of France such as health insurance amongst other benefits, this could be of interest.
Offshore companies are welcome but with restrictions. In purchasing land, building must be within six (6) months or additional taxes will apply and before the final signing of a purchase agreement one must become familiar with the French succession law, as unless addressed it will not allow you to leave your share of the property to who you wish, despite an existing will.
Real estate investments in St. Martin are mostly in villas as opposed to condos, especially in the prestigious area of the French Lowlands, or amidst the other fashionable areas of Orient Beach, Grand Case, Anse Marcel, Friar's Bay and Pic Paradis.
Although, St. Martin has a small regional airport at Grand Case, L'Espérance Airport for small jet and propeller planes serving the neighboring Caribbean islands; the main international airport that services the island is the Dutch St. Maarten airport Princess Juliana International Airport (sxm). It is the second busiest airport in the Eastern Caribbean, after the San Juan, Puerto Rico International Airport and has direct flights arriving from the US, Canada and Europe, and also serves as a hub and gateway for the smaller Leeward Islands. Flying times to St. Maarten are: Miami-2 1/2 hr., Caracas-1 1/2 hr., Dallas- 4 1/2 hr., Montreal- 5 hr., New York- 3 1/2 hr., Paris-8 hr. with International Carriers flying of: Air France, American Airlines, Continental, Delta, US Airways, BWIA, Corsair, Dutch Caribbean Airlines (DCA), and KLM; and with Regional Carriers of Air Caraibes, American Eagle, St. Barths Commuter, LIAT and Winair.
Prices throughout St. Martin are in euros (EC), but US dollars are accepted virtually everywhere.
The beauty of buying real estate in St. Martin is not limited to just its own pristine shores… there are other very close neighboring island shores to explore from St. Martin for the day, by a mere flight or ferry ride away. From the lay back flat island of the British West Indies of Anguilla 7 miles to the north of Marigot, that has daily flights or 20 minute ferries, every 30 minutes and appears so close to St. Martin, it feels like you could swim there; to the next French West Indies island, the intimate and alluring island of St. Barths with daily ferry service at 9am and 6:15pm or flights commencing at 7am; to the neighboring Netherland Antilles very mountainous yet small woodland forest island of Saba with ferry service once a week.
St. Martin has so many appealing features from its European/Caribbean culture and comforts to its cosmopolitan lifestyle, boundless water sports, duty free shopping on jewelry, perfumes, liquors, tobacco, its culinary delightful restaurants to its friendly and safe shores and more, not to mention the dozen and more casino’s a mere short drive away in St. Maarten and fabulous night life. The two parts of this popular resort island have some things in common - the weather is excellent, as are the beaches, hotels and restaurants.
Come experience St. Martin. ‘Merci’. Come find your dream home here.
Contact Whitten Caribbean Real Estate for all your St. Martin real estate needs.
Map of St. Martin
Whitten Caribbean Real Estate
visit us here at www.multiplelistingservicecaribbean.com
visit WHITTEN CAPITAL GROUP at www.whittencapitalgroup.com
SIGNATURE HOTEL
| Location: St Lucia |
 |
|
Price: $145 Description: THE VILLAGE INN & SPA: An Oasis of Calm in Rodney Bay, St. Lucia. The Village Inn & Spa is a quaint 76 room hotel located in the heart of Rodney Bay, offering a relaxing and ... MORE |
| FEATURED LISTING |
 |
| ID# ls96468 For Sale Land see more |
Website developed by RE-Data.com LLC Real Estate Website Designers.
