Find Property and Real Estate expertise in Tuvalu
Tuvalu’s property market is somewhat underdeveloped and there is an absence of real estate agents. Despite this, land remains the most valuable asset in the country and its ownership is traditionally passed through familial connections. The Tuvaluan government does not itself own land, but instead leases it from the island’s traditional native owners. Similarly, foreigners are entitled to lease land from native owners. A limitation is Tuvalu’s property market regards the presence of uncertainties over rights of ownership, owing partly to the increase of marriages between individuals from different islands. The resulting situation is many small land plots with multiple owners. Whilst there are no fixed financial incentives for property investment, tax exemptions may be granted on a case by case basis, and are particularly applicable where the tourism industry is concerned. Such tax exemptions are granted at the discretion of Tuvalu’s Minister of Finance.