Good day, Citizens and Residents!
I am taking the opportunity to address the nation on the Government of St. Kitts and Nevis’ progress in providing affordable homeowner solutions. As a government, we believe that it is critically important for our citizens and residents to become homeowners. And as such, has made it a top priority to create affordable housing solutions that will meet the ever-growing housing demand. Today, as the Minister responsible for Housing & Human Settlement, I am pleased to formally announce that the Government of St. Kitts and Nevis and National Housing Corporation (NHC) have signed a contract with East Coast Housing Development, a Trinidadian based developer, to finance and deliver 2,400 affordable smart homes over a period of 4 years. 600 of which will be made available each year.
EC$600 million dollars has been sourced by this developer to fund the project and the Government of St Kitts and Nevis through NHC will facilitate the development and be the point of access for citizens who are interested in procuring a smart home. The homes will be sold to citizens and residents who are desirous of having their own homes. They will be built either on land already owned by the potential homeowner or on state-owned land.
This consumer/bank-driven model for housing is just one of our housing solutions which will stimulate all sectors of the economy by creating jobs and increasing spending in these post-pandemic times.
99 % of the workforce for the development will consist of local contractors, civil engineers, electricians, plumbers, carpenters, surveyors, draftspersons and other local skilled workers. The Chairman of NHC, Mr. Shawn White, has met with the contractor association to garner their needs and concerns. It is my belief that this project will be a win-win for our local tradespersons. They will be gainfully employed and gain exposure to a new construction technique using reinforced concrete forms. In order for our tradespersons to remain relevant and competitive they must build their knowledge and expertise in cutting edge building technology and this project allows them to do just that.
All homes will be built and equipped with a refrigerator, stove, and solar water heater for as low as:
• EC$111,000 for 1 bedroom
• EC$213,000 for 2 bedrooms
• EC$297,000 for 3 bedrooms
Financial institutions on St. Kitts will provide low-interest mortgage loans to interested homeowners who qualify. Interested applicants can apply through an online process which will be launched by NHC on Monday 8th May 2023.
The Online process will allow you to sign up, select your desired bank or credit union and you will receive a confirmation receipt via email. Interviews will be done at your requested banking institution. Those potential homeowners who need assistance accessing and filling in these electronic forms can visit NHC.
Citizens and residents, this is a great opportunity for you to become a homeowner whether you are a young professional, first-time homeowner or a family. The Government and NHC are exploring other home solutions for persons whose finances or age do not allow them to qualify for a mortgage and we will announce those shortly.
The Government of St. Kitts and Nevis is committed to providing affordable homeowner solutions and opportunities for the economic growth of our people.
Thank you for listening and make God continue to bless you the citizens and residents of this great Federation.