BLOGGING FROM ARUBA SINCE 2004, about travel, vacation, real estate, Instagram, photography.
Sunday, March 25, 2018
Real Estate tips for buying in Aruba
Buy land, a condo or a home on Aruba.
Very often we hear from our clients that they were told that non-residents cannot buy land, a condominium or a home in Aruba. We can tell you that these stories are not true. All non-residents can buy land or a house in Aruba going through the same process as the Aruban residents. They can buy a home on property land as well as on long lease land.
Long Lease land
Besides property land you can buy a house which is built on lease land. This land is owned by the Land of Aruba and the lease is for 60 years.
A yearly fee is paid for these lease rights. After the 60 years, the lease period will automatically be extended with another 60 years. The only thing that might happen when the lease period is extended is an increase in the yearly fee.
Most of the houses situated in Arashi, Malmok, Tierra del Sol, Topaz, Safir, Esmeralda, Ruby, Opal, Salinja Serca and Palm Beach are built on lease land. Many non-residents have bought there and will keep buying in those areas although the homes are built on lease land!
The reason they keep buying houses in those areas is because of their locations. These areas are close to the spas, golf course, tennis courts and shopping malls. Another huge advantage is the distance to the ocean.
Currently there are several condo projects in development on Aruba. For more information about these projects, you can contact us and we will be more than happy to assist you.
The most attractive fact when you are thinking of buying a house in Aruba is that the costs related to the ownership of a house or land are very low.
The only yearly tax you have to pay is called land tax. This land tax is usually based on the selling price. The first USD 34.000 is free of tax. On average you pay USD 4 per USD 1.000.