Business View Caribbean - Jan 2024

32 BUSINESS VIEW CARIBBEAN VOLUME 11, ISSUE 1 Offering an insightful look into Antigua’s evolving housing sector, Carl Christopher, Chairman of the Board of Directors at CHAPA, highlights a dynamic shift in the island’s economic and social fabric. “Housing is pretty much booming,” he asserts, depicting a nation where construction is a driving force of progress. This growth, according to Christopher, is closely linked with government initiatives aimed at making housing more accessible and affordable. Describing the bustling construction as a key element in Antigua’s economy, Christopher points out, “If you’re not from Antigua and you travel here, seeing all the construction, you would understand the housing market is on the uptick in Antigua, and it has been for a few years.” This increase is significant not just in numbers but also in its transformative impact on the economy, challenging tourism as the island’s economic mainstay. The housing boom, as Christopher elaborates, represents a profound cultural and generational shift. “A lot of younger folks are seeing that homeownership is possible and are starting to think along those lines,” he notes, indicating a significant change from previous generations’ approach to homeownership. This change is evident in the tangible aspirations of Antigua’s youth. “You find people in their mid to late twenties going into banks to think about mortgages,” he observes. This shift from prioritizing dream cars to homes and land signifies changing priorities among the younger population. But the change is not just about quantity. Quality has also become a hallmark of Antigua’s housing landscape. “The standard of homes is improving,” Christopher remarks, highlighting the rising expectations for housing quality, even in subsidized projects. This quest for quality, he explains, is deeply rooted in the culture, where people expect good quality and sound structures. “Our people expect good quality, even in subsidized homes,” he notes.