A
few years ago, the Calypsonian (Furior) advised us “Don’t build”; but I suspect
even he may now be singing a different tune to St. Lucians now; and I suspect the Construction Stimulus Package (CSP) is
so good that he won’t mind changing his mind and even build on family land this
time around!
For
those of us who dreamed of owning our home, now is perhaps the ideal time to realize
that dream - thanks to the SLP Gov’t’s construction stimulus package.
But
can you build if you don’t have land? Absolutely not! But gov’t’s stimulus
package is only a part of a multidimensional, global package which will also address issues of land ownership, because it is linked to the PROUD programme which will be revitalized
and will make land available even to the landless. The Minister for Infrastructure
has estimated the CSP will cost government over EC$40 million. Independent experts
predict that it may reduce construction cost by as much as 40%; hence, making
housing affordable even to the poor and the vulnerable.
During
Dr Anthony’s earlier tenure, land under the PROUD programme was available for
as low as $1.50 per square foot; but the last UWP government made the fatal mistake of disbanding PROUD and transferred all lands thereunder
to NDC. The net result was an
astronomical increase in the price of those lands by 400% (from $1.50 to $6.00
per square ft).
Under
PROUD, an average 10,000 sq. ft. lot
cost $15,000; under the UWP, it costs a whopping $90,000. With the Construction
Stimulus Package, $90,000 will buy your land and build your house up to a
certain point (because the $75,000 will do for you what up to three months ago
$125,000 did).
Additionally,
the construction stimulus package is not only for new homes; it is also for
renovating, extending, retrofitting and restoring homes. Hence, it’s also a
good time to renovate and retrofit your leaking roof and make it more “hurricane
resistant”; to add an extension, to paint or repaint your home, to rewire your
house or to repair your plumbing.
Give yourself the best gift for Christmas: build or renovate your home! Now
is certainly a good time to do so.
Will the land available for St. Lucians be located in the communities where they currently live?
ReplyDeleteOr will many have to re-locate to the interior or along the highways between Choiseul & Vieux Fort or Vieux Fort & Micoud?
Which leaves the prime real estate with Caribbean or Piton views reserved for foreign investor's resort/time-share developments, vacation rental villas or 2nd & 3rd private homes.