OWN A PIECE OF THE ROCK – ST. LUCIA
July 19, 2007
EDWARD HARRIS AT LARGE
OWN A PIECE OF THE ROCK – ST. LUCIA
100% MORTGAGES ON LAND NOW AVAILABLE!!!
The party is over. Carnival from all reports was a success. The intermittent rain did not stop the fun. It is always a good thing to take a break from the rigours of work. Now, it is time to get back to serious business. What is next in the party line up?
While everyone was partying and jumping in the streets, I discovered during a visit to one of the banks that purchasers of land can acquire land with 100% mortgages. It can’t be any easier for potential property owners. There is always the uneasiness that foreigners are buying up all the land. Some have even suggested that there be some form of control by Government. However in today’s world Government’s protection or legislation in favour of nationals is just not on the cards. National Status is for everyone, alien or national.
He who owns the land owns the country. Large property acquisitions will continue to flow from direct foreign investments but there is a place for citizens to acquire their piece of the rock. There should be an aggressive promotion of land co-operatives. The need for the opening up of new lands by providing the seed money to do the infrastructure is great. Is there any institution ready to advance funds to develop new lands around the country? It is necessary for our banking institution to look in the areas of creative lending that will impact on development.
As the WTO rules take root, it will not only be land, it will be investments, jobs and freedom of travel. Already Real Estate Agents are complaining about foreigners being allowed to operate freely in St. Lucia but it is argued by some that the market has changed and the foreign Realtors have access to the markets where the buyers of condos and villas are located. While there has been an expansion in up market properties, the form of investment has not attracted locals, even when special incentives are offered to locals. Buying at preconstruction could yield a return several times more than the investment return in financial institutions.
The great Dow Jones and other Wall Street Trading Houses are what they are because of investors coming together to acquire shares and providing massive amounts of capital for companies to grow and prosper. It is time that incentives be given to companies to go public so that our citizens can begin to develop an investment culture. Recent stock offers have proven that our people are not unwilling to invest but there needs to be more opportunities.
The companies that offer special investment instruments must find more effective ways of informing and educating the masses. It must be borne in mind that it is not only the locals that will be targeted but also the Diaspora as relatives in St. Lucia share their knowledge with those overseas. The efforts made at reaching out to the communities, all be it at a certain level do not provide a wide enough representation. Radio and television should be included in any effective programme that seeks to inform and educate. There needs to be a partnership between the media and individuals/agencies that have ideas and information to share.
While the profit motive is the driving force to sustain and expand businesses, I am convinced that the element of risk makes the real difference between ordinary and phenomenal success. We must come together and develop some 21st century mechanisms to meet those needs which have been neglected in the past. Lending to small businesses needs special consideration. The time has come to find real solutions to dealing with this issue that can made a dent into the unemployment situation in the country.
There is definitely a willingness to break away from the methods that are no longer applicable but it is too slow. Change must come swiftly as the solutions in many instances have been for a long time, just ideas.
Keep the Faith, God is in charge, expect Miracles in 2007.
Edward Harris
Email: edharas@searchbigdaddy.com
Websites: http://www.stluciasimplybeautiful.com http://www.stluciarealtors.com