PR E S T IG E PR OPE R TY
Buy Into TheaDream tu In Vanu
For anyone looking for business and commercial opportunities to combine with idyllic affordable locations in which to live, Vanuatu has much to offer, says Douglas Patterson from Island Property.
Clear turquoise water, pristine white sand beaches in an island paradise make good real estate sense for both lifestyle and business.
102 | Islandliving pacific
make sure you are talking to suitably qualified and experienced professionals who can guide you through the local laws and requirements, as well as introduce you to the spectacular range of real estate available in this country. In Vanuatu you will find housing ranging in price from a few hundred thousand dollars for three- and four-bedroom family villas to a few million dollars for the increasing number of imaginatively designed, contemporary waterfront residences that have been built here over the last decade. The Vanuatu real estate market has experienced the price and activity cycles that occur elsewhere. There are times when our market is buoyant, and times when it is flat. But one thing is sure; you will find many more people who regret they did not invest here previously when they had the opportunity than you will encounter those who regret that they have. Douglas Patterson is the principal of Island Property, a Port Vila based real estate and property development company that has operated in Vanuatu since 1990. Douglas has lived in Vanuatu since the mid 1980s and is a naturalised citizen.•
PICTURE: Craig Osment. Efate, Vanuatu.
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anuatu has made it easy for foreigners to buy property. You don’t need to be a resident to invest. There are no restrictions on what type of property you may purchase. There is no limit to the number of properties you may buy. You can rent out your property long term without any business licences or permits, and there are no impediments to repatriating funds from selling or renting a Vanuatu property. For non-residents looking to buy an investment property, local property managers will be able to look after things in your absence. Vanuatu commercial banks accept registered titles as loan security, and insurance companies will cover your property, including against cyclone. And, when it comes to prices, you will be pleasantly surprised when you compare what you pay in Vanuatu, compared with Australia and New Zealand, especially for waterfront and coastal properties. Of course that shouldn’t mean that you proceed with any less care than you would in the familiar circumstances of home. Entering any new market always carries an element of the unknown. That is why the first thing you should do is
