Buying a home in Curaçao
Buying a home in Curaçao is about more than finding a house.
It is about choosing the right location, the type of property, the legal and financial aspects, and above all, whether a home fits the way you want to live.
In this Buyer’s Guide, we take you step by step through the key things to consider when buying a home in Curaçao.
01 | Determine what you are looking for
Before you start viewing properties, it is important to understand what budget fits your situation.
Look beyond the purchase price of a property and also consider additional costs and any financing. This gives you a realistic picture of what is within your reach.
Do you already have a clear budget, or would you first like to understand your options? We can help you determine where to start.
Your budget determines your options
Before you start viewing properties, it is important to understand what budget fits your situation.
Look beyond the purchase price of a property and also consider additional costs and any financing. This gives you a realistic picture of what is within your reach.
Do you already have a clear budget, or would you first like to understand your options? We can help you determine where to start.
The right location
The location of your home has a major influence on how you live in Curaçao and how well the property suits your needs.
Do you want to live close to amenities, prefer a quiet and spacious setting, or is being near the sea and beach important to you? Accessibility, the surroundings and the character of a neighborhood can also play a role.
Think about what matters most to you before you start your search. A property that looks perfect on paper may be less suitable once you consider the location and how you want to live.
Which type of property is right for you?
Not every property is right for every buyer.
In Curaçao, you can choose from different types of properties, such as detached homes, villas, apartments or new-build properties.
Think not only about what you like, but also about how you intend to use the property.
Do you want to live there permanently, own a second home, rent it out or primarily invest?
Factors such as privacy, outdoor space, maintenance, amenities and the lifestyle you are looking for can also influence the right choice.
The property you choose should not only fit your budget, but above all, the way you want to live.
How do you want to use the property?
The right property also depends on what you intend to use it for.
Do you want to live in Curaçao permanently, own a second home, rent the property out or primarily invest? Each situation calls for different considerations.
Think about how you actually want to use the property before you start your search. This helps you search more efficiently and compare properties more effectively.
First determine how you want to live or invest. Then look for the property that fits those plans.
02 | What does it cost to buy a home
Buying a home in Curaçao involves more than just the purchase price. In addition to the property itself, there are various additional costs to take into account.
It is therefore important to have a clear understanding of the total budget you will need for the purchase.
Purchase price and additional costs
The purchase price of the property is not the full amount you will need. When buying a property in Curaçao, you will also have to consider transfer tax, notary fees and registration costs.
As a guideline, you should allow for approximately 6% of the purchase price for these additional costs.
It is therefore advisable to look not only at the asking price when determining your budget, but at the total amount you will need to complete the purchase.
Financing and own funds
A property in Curaçao can be purchased entirely or partly with your own funds. Financing through a local bank is also possible, with the terms depending on your personal situation.
Curaçao banks generally finance part of the purchase price. You will need to provide the remaining amount yourself, in addition to the additional costs of the purchase.
It is therefore advisable to determine in advance how much you have available in your own funds and what financing options may be suitable for your situation.
Currency and payments
When buying a property in Curaçao, you will also need to consider the currency in which the purchase is settled. This can be relevant if you are buying from abroad or hold your assets in another currency.
It is therefore advisable to consider in advance how the payment of the purchase price and additional costs can best be arranged for your situation.
Annual costs
Even after purchasing a property, there may be annual costs associated with ownership. An important example is the property tax (OZB).
The amount of OZB depends on the assessed value of the property and is calculated using a progressive rate.
When determining your housing or investment budget, it is therefore important to consider not only the costs of purchasing the property, but also the ongoing costs of ownership.
Land ownership: freehold or long lease
Not every property in Curaçao is built on land that is fully owned by the property owner.
You may also come across properties on long-lease or leased land.
This distinction can affect the annual costs and the way the property is legally structured.
When buying a property, it is therefore important to look not only at the property itself, but also at the land on which it stands.
03 | Legal aspects
Buying a home in Curaçao also means dealing with legal and formal matters. It is important to understand in advance how ownership is arranged and which steps are required to complete the purchase carefully.
So you know what to expect before entering into a purchase agreement.
Ownership of a property
Both residents and non-residents can buy and own a property in Curaçao. Ownership is legally recorded and the transfer takes place through a local notary.
As a buyer, it is important to understand what type of ownership applies to the property and what rights and obligations come with it.
Resident or non-resident
Even if you do not live in Curaçao, you can buy a property here. Buying property and having the right to live in Curaçao are, however, two separate matters.
If you want to settle in Curaçao, separate rules apply regarding admission and registration. For non-residents, it is therefore important to consider these two matters separately.
Purchase agreement
Once you have found a property and the terms have been agreed with the seller, the agreements made are recorded in a purchase agreement.
In this agreement, you will find details such as the property, the purchase price and the agreements between the buyer and seller.
It is important that you fully understand what you are signing and which conditions apply.
The next step is the further process with the notary and the final transfer.
To the notary
After signing the purchase agreement, the further process is prepared with the notary.
The required documents are checked and the arrangements for the transfer are recorded.
The buyer also receives the details from the notary for paying the agreed deposit or down payment.
This is generally 10% of the purchase price and must be paid within the period specified in the purchase agreement.
The notary then guides the further legal transfer of the property.
Transfer
The final step is the signing of the deed of transfer at the notary.
This is when the property is legally transferred to you.
After signing the deed and completing the transfer, you become the owner of the property.
The keys are then handed over to you.
The notarial deed serves as the official proof of ownership.
If you are unable to attend the transfer, a power of attorney may be used in certain situations.
The notary can advise you on this and explain how it can be arranged for your situation.
04 | Finding and buying the right property
Once you know what you are looking for and what budget fits your situation, the search for the right property begins. In Curaçao, there are many different properties and locations, making it important to search with purpose and compare properties carefully.
The right property
A property may look attractive in photos, but only during a viewing will you discover whether it really suits you.
Look not only at the property itself, but also at the location, the surroundings, the condition of the property and how you intend to use it.
Viewings
Making an offer
Have you found a property that suits you? Then you can make an offer. This is not only about the price.
The conditions, desired completion date and certainty of the buyer can also be part of an offer.
Negotiating
When negotiating, the overall combination of price and conditions is considered. A good offer is therefore not always simply the highest amount.
It is important to know in advance what matters to you and where your limits are. This allows you to make a well-considered decision before committing to the purchase.
Making the right choice
Buying a property is ultimately about more than comparing square metres and prices. The right property should fit your budget, your plans and the way you want to live in Curaçao.
That is why it is important not only to look for a beautiful property, but to find a property that truly suits you.
05 | After the purchase
The transfer has been completed and the property is officially yours. A new phase now begins: actually using, living in or possibly renting out your property.
Taking your property into use
After the transfer, you can start using the property. Depending on your situation, this may be for permanent living, as a second home or as an investment.
It is wise to consider in advance which practical matters still need to be arranged, such as utilities, insurance and any maintenance.
Your property as an investment
Have you purchased the property as an investment or with the intention of renting it out?
Then there are different considerations than when you are going to live in the property yourself.
Think for example about rental possibilities, property management, maintenance and the local regulations that may apply.
Property management is also an important factor to consider when calculating the ongoing costs of owning an investment property. CPM Real Estate does not offer property management, so this should be arranged separately if required.
A good purchase also works for the long term
Buying a property is not only about the moment when you receive the keys. The right property should also fit your plans for the years ahead.
That is why at CPM we look not only at the property you find attractive today, but also at how it fits your way of living, your plans and your investment.