Pearns Point, Saint Mary

Saint John's, a historic gem located in the province of Newfoundland and Labrador, boasts a rich history dating back to its founding by John Cabot in 1497. The city is home to breathtaking historical sights such as Signal Hill and the Basilica of St. John the Baptist. Nestled on the eastern tip of Canada, Saint John's offers stunning views of the Atlantic Ocean and picturesque landscapes. Its historical charm and unique geographical location contribute to its allure as a prime destination for luxury living.

Exclusive Property Market Overview in Saint John's

The current exclusive property market in Saint John's is strong, with a high demand for luxury homes and apartments outweighing the available supply. The political and economic situation is stable, providing a secure environment for potential investors and homeowners. Buyers typically pay an average real estate commission of around 2-3%, while sellers can expect to pay between 5-6%. Additional costs to consider when purchasing a luxury home include a transfer tax of 2.5%, notary fees, and possible construction inspection or legal costs.

Luxury Real Estate and Financial Considerations

The wealth tax on private home ownership does not apply in Saint John's; however, there is a capital gains tax on the profit made from selling a second/vacation home. Corporations face a corporate tax rate of 15%, and individuals are subject to an income tax rate ranging from 15-20%. General mortgage requirements include a 20% down payment and proof of a stable income source. Typically, one can secure up to 80% of the purchase price through a mortgage.

Prime Residential Areas

Saint John's is famed for its most sought-after residential areas such as the Waterford Valley and Bannerman Park, where luxury homes blend seamlessly with the natural beauty of the surroundings. These areas offer exclusivity and privacy while being in close proximity to the bustling city center.

Accessibility and Proximity

Saint John's is well-connected by road and rail, making it easily accessible from various parts of Newfoundland and Labrador. The nearest big city is St. John's, located just 15 kilometers away. The St. John's International Airport, serving both national and international flights, is a mere 10-minute drive from the city center.

Educational Institutions

Renowned educational institutions near Saint John's include Memorial University of Newfoundland, St. Bonaventure's College, and various high-quality primary and secondary schools, ensuring top-tier education for residents.

Natural Beauty and Climate

Surrounded by rugged coastlines, lush forests, and serene waters, Saint John's offers a perfect balance of urban living and natural beauty. The climate is generally cool, with mild summers and chilly winters, providing a comfortable living environment year-round.

Sports and Outdoor Activities

Residents can enjoy a variety of sports and outdoor activities such as hiking trails in Pippy Park, sailing in Quidi Vidi Lake, and golfing in courses like Bally Haly. The city also hosts annual events like the Royal St. John's Regatta and the George Street Festival, adding vibrancy to the community.

Luxury Shopping and Entertainment

Saint John's offers an array of luxury lifestyle shops, high-end boutiques, and premium services along Water Street and the Avalon Mall. Notable restaurants including Raymonds and Mallard Cottage provide gourmet dining experiences. For exclusive nightlife, establishments like Club One and George Street offer trendy settings for an elegant evening out.

Cultural Attractions and Events

Key historical and cultural events such as the St. John's International Women's Film Festival celebrate the city's rich heritage. Art enthusiasts can explore famous museums and galleries like The Rooms and the LSPU Hall Theater for captivating cultural experiences.

Healthcare and Public Infrastructure

Saint John's is served by reputable hospitals and clinics like St. Clare's Mercy Hospital and the Health Sciences Centre, ensuring top-notch medical care. The city's public infrastructure is robust, with efficient transportation networks, well-maintained roads, and a range of amenities catering to a luxurious and convenient lifestyle. Overall, investing in a luxury home in Saint John's promises a unique blend of historical charm, natural beauty, and modern amenities, making it an ideal choice for discerning buyers.