Euro Exim Bank

Montserrat

Nestled along the dramatic cliff-tops of Montserrat lie the homes of Montserratians and the villas of distinguished international families. Since the 1970s, Montserrat has been the destination of choice for those seeking the true "get away from it all".

In 1979 Sir George Martin, the former Beatles producer, established the AIR Studios and Montserrat became the preferred location for recordings by Sir Paul McCartney, Sir Elton John, Sting and others. These international stars were followed by distinguished families seeking friendly people in a safe and unspoilt environment. The island continued to attract new residents, some building beautiful villas either side of a splendid golf-course. But Montserrat remained tranquil and at its peak it had a population of just 13,500.

In 1989 the island was hit by Hurricane Hugo. And, just as it was recovering, its long-dormant volcano erupted. The volcanic activity has since quietened and redevelopment efforts are gathering pace. The population now occupies the northern part of the island and government has begun implementation of a master plan for a new capital town at Little Bay designed by award-winning architect Lane Pettigrew. The development will include a luxury hotel resort and villas, plus a marina at the adjacent Carr’s Bay, all at a scale that retains the character of this almost-forgotten corner of the Eastern Caribbean.

Many of the earlier luxury villas now represent wonderful opportunities for investment and government is encouraging the purchase and upgrade of these properties.

But it is not just residency that the government is encouraging. Drilling is due to start soon for the introduction of geothermal energy and high-speed fibre-optic links are expected to be in place within the next couple of years. Together with a very attractive waterfront and a new town that replicates nostalgic social focal points of the old capital, Montserrat is set to become the most desirable place to live and to do business in the region.

The new capital is expected to be completed by 2017. Demand for the first phase has already led to a modest expansion in the number of commercial and residential units, with interest being received from domestic, regional and international investors.

Make sure to contact the Montserrat Development Corporation soon, as plans are to cap the total island population at around 10,000, ensuring that Montserrat remains the Caribbean as it used to be.