A Guide to Buying Property in Martinique for Foreign Buyers
Bustling, cosmopolitan and sophisticated, Martinique is a little bit of France in the heart of the Caribbean.
If you are currently considering investing in real estate in Martinique but you are wondering “where are the best places to buy property in Martinique?” or “how do I go about owning property in Martinique as a foreign buyer” then this guide is for you.
Our guide takes you through the process of buying property in Martinique from beginning to end, including an introduction to the real estate market, the buying process and the taxes you will need to be aware of.
Overview – The Martinique Real Estate Market
Officially defined as an overseas “departement” (region) of the French Republic located in the heart of the Caribbean, Martinique effortlessly fuses the French way of life with its tropical location.
The Creole cuisine for which Martinique is so famous also has an unmistakably Gallic influence.
However, Martinique, the “Isle of Flowers”, benefits from all that people love about the Caribbean: Endless beaches such as Les Salines, cascading waterfalls and a lush rainforest-covered interior, fascinating colonial ruins, and quiet fishing villages and a colorful underwater world ideal for scuba diving and snorkeling.
Property for sale in Martinique ranges from Creole-style cottages to villas overlooking the island’s beautiful bays in locations such as Fort de France, Les Trois-Ilets and Le Diamant.
Buying Property in Martinique
Can foreigners buy property in Martinique?
Yes, foreigners can buy property in Martinique and investment from overseas buyers is welcomed. As in France, there are no restrictions on foreign buyers acquiring real estate in Martinique.
When searching for homes for sale in Martinique it is important to understand how properties are classified. When looking at property descriptions, you may well ask yourself, “what do the categories T1, T2, T3 refer to?” Martinique uses the same real estate classifications as used in France. The “T” refers to the number of “pièces” (main rooms excluding the kitchen and bathroom which are assumed). Therefore, classifications have the following meanings:
- T1 = Studio apartment
- T2 = 1 bedroom apartment
- T3 = 2 bedroom apartment
Buying property in Martinique is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once you have found a property you like and made an offer, a Purchase and Sales Agreement will be prepared by a notaire (notary).
- Once signed, you will be required to pay a deposit of at least 10% which will be held in escrow by the notaire.
- Sales are normally closed in 1-3 months, at which time a Deed of Sale will be officially registered.
- Pay all required taxes and fees.
There are 2 types of property tax in Martinique – the taxe d’habitation paid by the resident and the taxe foncière based on the land and building.
Search Martinique Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property in Martinique.
Homes for Sale & Condos for Sale
Land for Sale
You can also browse undeveloped land. Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in Martinique.
Whether you are looking for beachfront land or a centrally located lot, we’re here to help you find the perfect lot of land for sale in Martinique.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Hotels for Sale
Searching for hotels for sale in Martinique? Browse hotels, B&Bs and guests houses right here.
Finding the Perfect Property for Sale in Martinique
Discover the most sought after real estate investment opportunities and benefit from unrivaled insight into the market.
To find your perfect property in Martinique, search our Martinique real estate listings.
Best Places to Buy Property in Martinique
Fort de France
Along the western coast of Martinique in the vicinity of the island’s capital Fort de France and Martinique Aime Cesaire International Airport, there are several beautiful white sand beaches and resorts, as well as apartments and large homes for sale.
Les Trois-Islets & Le Diamant
South of Fort de France, Trois-Islets and Le Diamant are both renowned for their beaches and are also of particular interest to those considering investing in Martinique real estate.
How long can a foreign citizen stay in Martinique?
While Martinique is an overseas department of France, it is not part of the Schengen Zone and Martinique has its own visa policy. Citizens of the EU and the EEA are permitted to remain in Martinique for an unlimited period without a visa. Citizens of the USA, Canada and many countries in the Caribbean and Latin America are permitted to remain on the island for a holiday for up to 3 months without a visa.
How do I become a resident of Martinique?
Individuals who would like to stay longer in Martinique should apply for a long-stay visa at a French consulate in their country of residence. Applicants must be able to demonstrate that they have sufficient funds to support themselves during their stay in Martinique or, in the case of retirees and pensioners, provide proof of income from a pension or retirement plan. Applicants will be required to attend an interview in person and decisions are typically made within 30 days.
Individuals who have lawfully resided in Martinique for 5 years can apply for French permanent residence permit (carte de resident) which is valid for 10 years and can be renewed.
How do I become a citizen of Martinique?
Individuals who have resided lawfully in Martinique for 5 years and who can demonstrate a good knowledge of the French language and culture can apply for French citizenship by naturalization.
Sending Money to Martinique
You could save money when investing in Martinique real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in Martinique. To see how you could save money, read more: Foreign Exchange.
How to Get to Martinique
There are direct flights to Martinique’s Aime Cesaire International Airport from Europe, the USA and Canada.
From North America, fly direct to Martinique from Miami with American Airlines or with Air Canada from Montreal.
From Europe. Fly with Air France from Paris to Martinique or fly to Miami and take a connecting flight.
Alternatively fly to St Lucia and take a connecting flight to Martinique with LIAT.
Miami to Martinique: 3 hours 30 mins
Montreal to Martinique: 5 hours 10 mins
Paris to Martinique: 8 hours 35 mins
Yachting and sailing are very popular in Martinique and the main ports of entry are Fort-de-France, St-Pierre or Marin.