It doesn’t matter whether you want a retirement home for yourself and your partner, a holiday home, an investment property or are looking to relocate – Vanuatu real estate is definitely worth a second look.
Why is real estate in Vanuatu a good deal?
Real estate in Vanuatu is an excellent idea. Firstly, Vanuatu has fabulous weather, pristine beaches and a glistening ocean. Think of swaying palm trees, lush tropical forests and plenty of sunshine. Then there is the seduction of island living, a laid back lifestyle, fishing, boating and just spending quality time with family and friends.
Holiday houses in Vanuatu, as well as waterfront real estate in Vanuatu are such a great deal, because they don’t come on the market very often. This means that the market is wide open for investment, if you can find the right real estate in Vanuatu.
There is no capital gains tax in Vanuatu
In Vanuatu there is no personal tax, no corporate tax and no capital gains tax. So if you purchase real estate in Vanuatu, you can resell at any time and not worry about paying any taxes. Expats also love living here because they don’t have to pay any income tax, if they become a resident of Vanuatu. That’s a huge saving when you have a young family or are hoping to make your retirement money stretch a little further.
Financing for real estate in Vanuatu
With a 20% to 30% deposit on hand, the local banks in Vanuatu are usually very happy to lend money for land or house and land packages. One of the great benefits of buying a house and land package on Vanuatu is that the developer will usually manage the property for you, after it is built.
This means that if you want to use your holiday house in Vanuatu for one month a year for example, for yourself and your family, you can lease it out for the remaining 11 months of the year. The developer will make sure that the property is looked after well during your absence, and you can relax knowing that your property is fully managed.
Of course, the option also exists for permanent residential living in your new waterfront real estate in Vanuatu, but the option is always available for holiday letting as well.
You don’t need to be a resident to purchase Vanuatu real estate
Previously, you had to be a native to own land in Vanuatu, however since the introduction of the Strata Title Act in 2005, non-residents can now purchase land in Vanuatu. Since this move, both Australia and New Zealand have started to invest money to develop and maintain the infrastructure in Vanuatu.
This means that roads and sewage facilities are continually being improved, foreshores are being upgraded and the airport and main port have also experienced development. None of this impacts negatively on the relaxed ambiance of Vanuatu, but it does make travelling around much easier, as well as stimulating tourism, which is a large industry in Vanuatu.