House Hunting in Aruba: Three Bedrooms and a Pool for $1.1 Million (Published 2022) (2024)

FAQs

How much is an average house in Aruba? ›

Market Overview

(In mid-2019, the median price for a house in Aruba was about 580,000 Aruban florins, or about $321,000, according to the Central Bank van Aruba.)

We can help you to make cost estimations and choose the best contractors. The building prices on Aruba for traditional building is approximate between the 900 and 1500 dollars per square meters. If you want to build green and sustainable, than you need to add 15% to 25% more to the building cost.

The market has seen a boom in the past couple of years, and prices have been going up consistently at about 4% year-on-year. This makes Aruba an excellent choice for buying real estate, whether as a second home or as a rental vacation property (or both!).

Freehold land in Aruba is owned by the holder of the property deed. There are no annual payments required on freehold land aside from the standard property and land taxes. Leasehold land is owned by the government and is leased to title holders for 60-year terms. These properties require a small, annual lease payment.

Non residents

Up to a maximum 65% financing is available; therefore a minimum down payment of 35% is required.

We present a variety of houses for sale in Aruba covering beachfront properties, inland properties at various attractive locations on the island. Price ranges vary from under US$200,000 to over US$2.5million.

All visitors to Aruba with proof of identity and a valid retour ticket may stay up to six months in a calendar year. If you own a home, your visa can also be extended beyond the six months in a calendar year, if you can show Immigration Department of Aruba that you own a house and have a valid retour ticket.

Summary of cost of living in Aruba: A family of four estimated monthly costs are 4,034.3$ without rent. A single person estimated monthly costs are 1,118.3$ without rent. Cost of living in Aruba is, on average, 9.2% higher than in United States.

Overall, it's cheaper to build a home than to buy one in California, with 13 out of the 20 counties saving you money if you decide to build your house from scratch. Budget-wise, building is more favorable in Southern California whereas Central California caters best to those interested in buying.

Taxes. Land taxes in Aruba are relatively low, and are usually based on the value of the property (house and land combined). The first US$33,707 is tax free, and after that the tax is 0.4% or $4 per $1000 of value.

Can a US citizen get a mortgage 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.

Condos can be difficult to resell because of the narrow pool of buyers interested in these properties. Families with multiple kids often want yards and some people may be turned off by the idea of living by someone else's rules. The costs associated with condo living also make the buyer pool smaller.

Aruba is an autonomous country within the Kingdom of the Netherlands. The Kingdom of the Netherlands is responsible for the conduct of foreign affairs, including with the United States, and its embassies and consulates issue visas for travel to the island, although visas are not required for U.S. citizen tourists.

What is the process to relocate to Aruba? To apply for a residency permit, you will need to apply through the Department of Immigration and Naturalization Services of Aruba (DIMAS). Residency permits are valid for one year and are renewable annually thereafter.

After passing the Aruba Immigration you will need to pick up your baggage (which you would have dropped off during check-in) and go to the U.S. Customs & Border Protection facility. A uniformed U.S. Customs and Border Protection official will then run a computer check and take your Customs Declaration form.

To purchase a $200,000 house, you need a down payment of at least $40,000 (20% of the home price) to avoid PMI on a conventional mortgage. If you're a first-time home buyer, you could save a smaller down payment of $10,000–20,000 (5–10%). But remember, that will drive up your monthly payment with PMI fees.

Most lenders are looking for 20% down payments. That's $60,000 on a $300,000 home. With 20% down, you'll have a better chance of getting approved for a loan. And you'll earn a better mortgage rate.

For a $500,000 home, a 20% down payment would be $100,000. At a 5.5% rate, the monthly payment for this would be $2,940 (this includes taxes and insurance - scroll down to see how much local taxes can impact your monthly payment and may alter this number for you).

Buying Property and Renting in the Caribbean islands

If you are looking for affordable property in the Caribbean islands, you should consider places like Jamaica, the Dominican Republic, Aruba, Honduras, and Belize, as they offer some of the most economical real estate options for you to buy or rent.

Aruba. Your visa states how long you can stay in Aruba. The maximum is 180 consecutive days within a 365-day period. But it may be shorter for you.

How much money can you bring to Aruba? ›

Travelling with luggage

If you enter or leave Aruba with more than AWG. 20,000,- in cash or securities, or the equivalent thereof in foreign currencies, you must notify this to the Customs Department (Departamento di Aduana). You'll need a *MOT form (*Unusual Transactions).

U.S. Passport Requirements:

Your U.S. passport must be valid for a minimum of 6 months from the date you plan to depart Aruba. Your passport must have adequate unused visa pages to allow for entry and exit stamps upon arrival and departure from Aruba.

Duration of admission. The maximum period of time that a person can be admitted to Aruba as a tourist is 30 days. The total amount of days a person can stay in Aruba, as a tourist who applies for an extension of stay, cannot exceed 180 days per year.

Written Permits

With the exception of tourists, all other persons should have a written permit to prove their legal presence on the island. This means that one (unless a tourist) should not travel to or be on the island pending a request for a residence-and/or work permit.

The corporate income tax rate is reduced from 25% to 22% under the Profit Tax Ordinance, with the rate under the Aruba Petroleum Ordinance (28%) changed to instead refer to the tax rate under the Profit Tax Ordinance (i.e., 22%);

Aruba has always been known to be "one of the safest places in the Caribbean." Being located well south of the hurricane belt makes it a great place to live all year round.

San Nicolas. San Nicolas is the second largest city in Aruba, famous for the beautiful murals spread across the city. Life in the coastal town is very quiet and peaceful, perfect if you want to enjoy a relaxing retirement away from the hustle and bustle and witness some of the most beautiful sunsets.

Ranch homes are the most popular home style in the U.S. They're another rectangular-shaped house, though they come in “T” or “L” shapes, too. A home with a simple and concise layout is the cheapest type of house to build. Ranch homes are typically single-story structures with attached garages.

As a rule of thumb, it's cheaper to buy a house than to build one. Building a new home costs $34,000 more, on average, than purchasing an existing home. The median cost of new construction was $449,000 in May 2022.

The cheapest way to build a home is to design a simple box. Sticking to a square or rectangular floor plan makes the building and design simple. Generally speaking, building up is cheaper than building a sprawling one-story home, so you may want to consider planning for a multiple-story home if you need more space.

What is the luxury tax in Aruba? ›

Since the first of January 2010 the BBO has been reduced to 1.5%. So a surcharge of 1.5% is added to all your purchases made in Aruba.

The Government of Aruba through Domain Control (Directorate of Land Administration) gives out the long-lease properties. The long-lease properties are given out for a period, usually, of 60 years. The long-lease fee is determined at the beginning of the contract and is fixed for the duration of the long-lease period.

Aruba's Departure Tax or Passenger Facility Charge is US $36.75 for US-bound passengers. The Aruba airport has US pre-clearance, however it is not possible to transfer directly to a US-bound flight.

For non residents or new residents opening a new account in Aruba the following applies: Valid passport and driver's license and/or national identification document. Two reference letters from two different well-known banks, addressed to the Aruban bank.

A foreigner or foreign company can establish a business in Aruba, but this must comply with the requirements and conditions as mentioned in the Guidelines. In general businesses for which no special know-how and/or large capital investment is required, are reserved for local entrepreneurs.

Condo pros

Less maintenance – If you own a house, all of the upkeep of the property falls on you. If you don't want to worry about maintenance as much, a condo might be a better fit. More perks – Unlike a house, many condo communities come with amenities like a pool or playground, and features like security systems.

Characterizing Condo Ownership

Condos pose a higher risk to lenders because the complex is governed by a homeowners association, which oversees daily maintenance, performs major repairs and maintains the budget for the entire complex.

A condo is usually less expensive than a free-standing house. Condos are much smaller in square footage, and maintenance is typically cheaper because you're only responsible for the interior of your home. You don't have to worry about landscaping, the roof or the exterior walls. The condo board or HOA covers those.

The legal age for entering casinos and for drinking is eighteen (18) years.

What country owns Aruba? ›

Aruba is one of four countries in the Kingdom of the Netherlands. King Willem-Alexander is the head of state of Aruba. The governor represents the monarch in Aruba. The website of the Aruban government gives information about policy areas for which it has autonomous responsibility, such as education and healthcare.

Aruba has been a part of the Kingdom of the Netherlands since its inception in March 1815. In fact, relations between Aruba and the Netherlands date back to 1634 when the Dutch settled on the island.

If you've ever thought of retiring overseas, now is the perfect time to live in Aruba! Home of Eagle Beach named the fifth best beach in the world in 2022, Aruba is one of the most popular islands in the Caribbean and a peaceful destination for retirees to enjoy the sun and sand during their golden years.

We spoke to a local at the Brickell Bay Beach Club & Spa about all the smiles we saw here while visiting, and they explained that the majority of the island's residents are middle class, which isn't always the case in Caribbean resort destinations.

The fishing town of Savaneta, and the former capital, is a popular location on Aruba for expats. Located in the southwest of the island and is away from all the hustle and bustle of the more touristy Oranjestad. Another popular area is Noord, the island's most populated town. It's located north east of the capital.

It is illegal to take out any conch shells, sea stars, turtle eggs and/or any form of coral. No liquids, gels, and/or aerosols are permitted except when packed in a clear transparent resealable 1 quart (1 liter) size plastic bag. Liquids, gels, and/or aerosols in containers of 3.4 oz.

Conform the international treaty of CITES and our local law which protects our Flora & Fauna, it is completetely prohibited to take any seashell, sand and coral outside of Aruba, this in order to protect our environment.

A family of four estimated monthly costs are 4,036.1$ without rent. A single person estimated monthly costs are 1,118.9$ without rent. Cost of living in Aruba is, on average, 9.2% higher than in United States. Rent in Aruba is, on average, 57.0% lower than in United States.

Q.: Can an American/Canadian/ European citizen buy property in Aruba? A.: Yes, there are no restrictions for foreigners on buying property in Aruba. Q.: How much time can I spend in Aruba as a homeowner? A.: Homeowners can spend 180 days of the calendar year in Aruba without residency or additional permits.

What is the process to relocate to Aruba? To apply for a residency permit, you will need to apply through the Department of Immigration and Naturalization Services of Aruba (DIMAS). Residency permits are valid for one year and are renewable annually thereafter.

What is the cheapest month in Aruba? ›

Top tips for finding cheap flights to Aruba

High season is considered to be June, July and August. The cheapest month to fly from the United States is January. Enter your preferred departure airport and travel dates into the search form above to unlock the latest Aruba flight deals.

Rent prices in Aruba are relatively low, whereas prices for purchasing a house go from $4100 per m2 to $140,000 per m2. In general, for a comfortable retirement in Aruba, an individual would need approximately $2000 per month.

Aruba. Your visa states how long you can stay in Aruba. The maximum is 180 consecutive days within a 365-day period.

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.

Upon arrival in Aruba, you must have: a U.S. passport valid for the duration of your stay; a completed Embarkation and Disembarkation Card (ED-Card); a return or onward ticket.

Americans may not work in Aruba as a tourist; you must obtain a work visa sponsored by an employer on the island.

You can use your U.S. license.

The island's official languages are Papiamento and Dutch, but most Arubans speak a minimum of four languages, including English and Spanish. You can drive with your state-issued license without worry.

If your spouse is a citizen or resident of Aruba, you can apply for a family visa. You'll be able to freely stay on the island and be able to apply for citizenship after 3 years. This is one of the more common means for travelers to stay on Aruba.