The Dutch side of the Eastern Caribbean has it all. The white sands, sparkling waters, nude beaches, rich local culture, exquisite food and nightlife – you name it!
St. Maarten is the best place to live in. But how are the real estate prospects in St Maarten? Both sellers and buyers are often curious about property buying and selling, whether they should own land or sell their commercial space.
We have compiled some frequently asked questions for you.
FAQ 1: Do I Have to Be a St. Maarten Resident to Own a Property?
No. commercial and residential properties are up for grabs for both residents and foreigners. You don’t necessarily need to be a resident to own or purchase real estate in the region. Many investors purchase a piece of land for future development and profitability prospects. The Dutch law in St. Maarten protects buyers, which means when you buy a property in St. Maarten, it’s similar to buying property in Europe.
FAQ 2: Can I Rent My Property If I Don’t Plan to Live There Year-Round?
You can rent your property if you plan on using your property for only a certain period. You can rent your property as a vacation rental. That’ll give you extra income, and you can hire a real estate agent to act as a property manager for you. Your agent will oversee all the maintenance, payment, and protection aspects of the property.
FAQ 3: How Do I Furnish and Decorate My Property?
St. Maarten has some talented interior designers who are internationally acclaimed. Some of them have stunning home décor stores comprising imported furniture from around the world. You can render their services for home décor.
FAQ 4: How is Dutch Side Different from French Side?
The first difference is obvious. If you purchase property on the French side, all the documents will be drafted in French (translation is available). Notaries speak both English and French. On the Dutch side – St. Maarten, documents are in English, and notaries are well-versed in both English and Dutch.
While the French side only offers one Fee simple title, the Dutch side offers three forms of ownership 1) fee simple deed, 2) government long lease deed, and 3) private long lease deed. So you have more options of ownership.
FAQ 5: Do I Have to Pay Real Estate Taxes?
Unlike the French side, where you have to pay taxes under mainland French taxation, St. Maarten has no annual real estate taxes. If you choose a government long lease deed, then you’ll have to pay the lease fee. Otherwise, there are no annual taxes or capital gain tax on personal property.
FAQ 6: Do I Need to Hire a Real Estate Agency?
Yes and no. If you have some experience in real estate trading, you can buy or sell the property yourself. However, we’d suggest hiring a local real estate agency because they have market insight. Real estate agents are required to put the client’s interest first. So you’ll get the best bang on your bucks.
What are you waiting for? Hire BrightFuture Realty to purchase St. Maarten villas and commercial property. Check out luxury real estate listings on our website to find luxury homes for sale in St. Maarten. Alternatively, you can also contact us for more details.