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Hereby various information concerning real-estate on Aruba and for more information please don't hesitate to contact us by e-mail or phone.
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Very often we hear from our clients that they were told that people who are non-residents can not buy land or a home in Aruba.
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Well we can tell you that these stories are not true. People from the United States of America, Canada, The Netherlands, Belgium e.g. can buy land or a home in Aruba like the Arubian residents can. They can buy a home either on property land as well as on lease land.
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Besides property land you can buy a house which is built on lease land. This land is owned by the Land of Aruba and a 60 year lease has been given.
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For these lease rights you pay a yearly fee. After the 60 years the lease period will be automatically extended with another 60 years. The only thing which may happen when the lease period is extended is that the yearly lease fee will increase.
Most of the houses which are situated in Arashi, Malmok, Tierra del Sol, Topaz, Safir, Esmeralda, Ruby, Opal, Salinja Serca and in 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!!
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We can also help you buy a condo at the many condo projects in development in Aruba.
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Inquire about the condo projects available! We will be more than happy to help you!
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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 in Aruba are very low.
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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 the balance you pay USD 4 per USD 1.000.
For example: Selling price of the home is USD 234.000. The land tax is calculated as follows: USD 234.000 - USD 34.000 = USD 200.000 / 1.000 = USD 200 * 4 = USD 800 per year.
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When you are thinking of buying a home in Aruba then you have to realize that there are additional costs involved besides the selling price.
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These closing costs are approximately 5 to 8 percent depending on the selling price.
The closing costs are calculated as follows:
Transfertax (one time tax) 3 percent when selling price is < Afl. 250.000,-
6 percent when selling price is > Afl. 250.000,-
Notary fees transfer deed 1 percent of selling price
Notary fees mortgage deed 1 percent of selling price
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The yearly insurance fee for an extended fire and theft coverage is approximately USD 4 per USD 1.000 of value.
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The yearly premium for a USD 200.000 home is USD 800.
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When you have seen a home which you want to buy a Purchase and Sale Agreement should be signed after the price negotiations.
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A ten (10) percent downpayment of the selling price payable towards the ascrow account of the selected notary is usually agreed upon. The buyer will select the notary by the way. The deed can be signed within 8 weeks after signing the Purchase and Sale Agreement. For legal support concerning the contracts we advise you to contact the selected notary.
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In the search for your dreamhouse in Aruba you can also use our professional services regarding houses which are not listed directly at CENTURY 21 Best & Solid Real Estate.
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If you have seen a property which you really like and this property is listed with another real estate agent you can contact us and CENTURY 21 Best & Solid Real Estate will then support you with our professional input. We will gather the requested info regarding the property and make the necessary appointments. We will guide you through the complete purchase process till closing at the notary's office.
The best news is that all the abovementioned service is free of charge for the buyer.
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Sunny regards,
CENTURY 21 Best & Solid Real Estate
Rene van der Spaan & Ronald Groters
Owners / Senior Sales Associates
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