St Kitts and Nevis to address Housing requirements through Budget 2024

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The Administration of St Kitts and Nevis, under the leadership of Prime Minister and Minister of Finance Terrance Drew, has displayed a keen focus on addressing the nation’s Housing and Human Settlement needs over the past few years.

The Labour Party Administration has shown a willingness to invest in and pursue its plans for the development of sustainable housing and settlements in the nation.

Under the remit of the budget for 2024, the government has made the decision to continue with policies such as offering a reduced Value Added Tax rate of 13 per cent to first time homeowners or existing homeowners who wish to renovate their homes.

Such policies serve the purpose of making homeownership a far more accessible and comfortable proposition for citizens, which is what St Kitts and Nevis has been aiming for.

The government has also recognized the need for stimulating the construction sector which led to the announcement that it intends to build and deliver 2400 smart homes with in a span of four years.

Prime Minister Drew had this to say on the matter, “Today, we are well on the way to fulfilling our promise to the people. As you are aware, the Government and the National Housing Corporation entered a partnership earlier this year with East Coast Housing Development Ltd, a regional company, based in Trinidad to construct a number of homes.”

As a result of this partnership, several local contractors have received training in new construction techniques and additional training will also be offered to enable them to contribute to the construction phase of the project.

According to Prime Minister Terrance Drew, the public can expect construction to accelerate in St Kitts in 2024.

He went on to talk about the efforts put in by the NHC in 2023 and what it has in store for the coming year.

During the Budget Address, PM Drew has this to say, “During 2023, the NHC continued to implement its regular housing programmes and assisted 35 individuals in the construction of two (2) and three (3) bedroom homes. In 2024, the NHC will construct an additional sixty (60) two (2) bedroom homes at an estimated cost of EC$13.5 million.”

He added that, “These homes will be specifically built for low-income families and differently-abled citizens. The NHC is also committed to improving the living conditions of the residents of West Street and East Street.”

One must also note that in September of 2023, the relocation of residents who lived in the West Street apartment block was completed, which allowed for the demolition of the old buildings. The construction of new apartment buildings will commence in the first quarter of 2024.

Following the completion of the construction project on the West Street, the NHC will shift its focus to the East Street, starting with the demolition of dilapidated buildings, followed by the construction of new complexes.

The government has been quite vocal about the fact that it aims to build new communities and to provide modern, energy-efficient, affordable housing for financially vulnerable citizens.

The West Street and East Street Housing initiatives are also in line with the Government’s urban revitalization mandate which is aligned with SDG 11 – the creation of sustainable cities and communities.

Thus, the completion of these initiatives would mark a significant achievement for the government and help reaffirm the nation’s goal of pushing for better living conditions for financially vulnerable citizens by providing them with new, climate-resilient and energy-efficient housing.

George Henry
George Henryhttp://writeups24.com/
George Henry, a distinguished graduate of Columbia University, pursued his passion in Economics with outstanding academic achievements. George found his calling in journalism, aiming to raise awareness regarding geopolitical and socioeconomic issues. He is recognized for having a keen interest in international geopolitics, sports and women's rights. To reach George, you can email contact@writeups24.com

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