The Insider's Guide to Buying Property in Aruba
Overview - The Aruba Real Estate Market
Located in the Southern Caribbean just 17 miles (27 km) off the northern coast of South America, the 69 square mile (179 sq km) island of Aruba is a tropical outpost of Europe in the sunny Caribbean. Together with Holland, Curacao and St Maarten, Aruba is one of the 4 constituent countries which comprise the Kingdom of the Netherlands.
With deep cultural, political and historical ties to the Netherlands stretching back to the 17th Century, Dutch is widely spoken and the legal and educational systems are based on the Netherlands – as in tiny Bonaire and Saba.
Offering some of the best beaches in the region, perfect conditions for watersports such as windsurfing and kitesurfing, fantastic entertainment options from golf to shopping and dining, the island is one of the most popular tourism destinations in the Caribbean. The “One Happy Island” is popular with visitors from the USA, the Netherlands and many other countries. In fact each year, Aruba welcomes approximately 1 million stayover visitors.
With one of the highest living standards in the Caribbean, a highly rated healthcare system and a thriving tourism industry, Aruba is very popular with second home buyers searching for a vacation home in a lively destination offering year-round sunshine, adventure and stunning natural beauty. It is also popular with buyers looking for a base to retire in Aruba. Popular areas include Eagle Beach, Palm Beach and Tierra del Sol in Malmok.
“Aruba is very popular with second home buyers searching for a vacation home in a lively destination offering year-round sunshine, adventure and stunning natural beauty”
Idyllic destination offering a fantastic lifestyle with beautiful white sand beaches, world-class conditions for windsurfing and kite surfing and two golf courses.
A safe destination for investment with the security that comes from being a constituent country of the Kingdom of the Netherlands.
One of the highest standards of living in the entire Caribbean.
Unrestricted property rights for foreign buyers and a well established real estate market with high potential for capital appreciation.
Temporary residency available to property owners for 6 months per year; Permanent residency offered to financially self-sufficient retirees.
Large and growing tourism sector offering property owners high rental income generating potential.
Easily accessible destination via over 100 direct flights from the USA, Canada, the Caribbean and Europe and good quality infrastructure which has benefited from high levels of investment.
Buying Process, Fees & Taxes
- Can foreigners buy property in Aruba?
Yes, foreigners can buy property in Aruba and the Government of Aruba welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in Aruba and the buying process for foreign buyers is the same as Aruban citizens. Foreigners can buy property on either freehold property land or on lease land which is owned by the government. In the case of lease land, a lessee is required to pay an annual fee for lease rights.
- Buying process
Buying property in Aruba is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once a Sale / Purchase Agreement has been agreed and signed, you will need to pay a 10% deposit to a Notary.
- The Notary will normally contact you again within 6 weeks to sign the deed and make the final payment.
- Pay all required taxes.
- Fees & taxes
Notary fees amount to 2% of the purchase price.
Upon completion, there is a one-time Transfer Tax of up to 6% of the purchase price depending on the value of the property.
There is also an annual property tax of 0.4% and land tax of US $0.85 per sq m or US $0.08 per square foot.
Latest Real Estate Listings in Aruba
Residency & Citizenship
- How long can a foreign citizen stay in Aruba?
Citizens of the USA, Canada, EU and many South American nations may visit Aruba for up to 3 months without a visa.
- How do you become a resident of Aruba?
Non-citizens wishing to live in Aruba are required to apply for a Residence Permit. In the case of retirees aged 55 and over, the permit does not allow the applicant to work in Aruba so applicants must be able to demonstrate a guaranteed income from an annuity with an annual yield of at least the equivalent of Afl 50,000. Residence permits are issued for a period of 1 year and can be renewed thereafter. Citizens of the Netherlands, Curacao, Bonaire, St Maarten, St Eustatius and Saba may apply for a declaration exempting them from the requirement for a permit.
Individuals who have legally resided in Aruba with a temporary residence permit for at least 120 months may apply for a permanent residence permit which is valid for an indefinite period.
- How do you become a citizen of Aruba?
Individuals aged over 18 who have been a permanent resident in Aruba for 5 years and have a good understanding of Dutch may apply for citizenship by naturalization.
Find out more: DIMAS
Mortgages in Aruba
Looking for financing to fund the purchase of property in the Caribbean?
Contrary to popular misconception, it is possible for foreign nationals looking to invest in Aruba real estate to apply for a mortgage.
Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in Aruba.
For more information, see our page on: Caribbean mortgages.
How to Get There
There are numerous direct flights to Aruba from the USA, Canada and Europe. International flights arrive at Reina Beatrix International Airport which is located in Oranjestad on the western coast of the island and has recently benefited from a complete renovation as part of the island’s $1 billion island revitalization program.
There are direct flights to Aruba from North America, Europe and the Caribbean.
From North America you can fly to Aruba from various cities in the USA and Canada. There are over 100 non-stop flights from the USA to Aruba each week.
Airolineas MAS, Aserca Airlines, COPA Airlines, Insel Air, the Dutch Antilles Express and Tiara Air Aruba also operate flights from the Caribbean and South America.
From Europe, fly to to Aruba via Amsterdam. Alternatively, fly to Bonaire or Curacao and take a connecting flight to Aruba.
- Amsterdam to Aruba 11h 40m
- Toronto to Aruba 7h 55m
- New York to Aruba 4h 50m
- Miami to Aruba 2h 55m
- Bonaire to Aruba 45m
- Curacao to Aruba 25m
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