Q&A with David Malm, buyer at Pearns Point
David Malm is a US Citizen and works in Boston. He runs a private equity firm that invests in healthcare companies.
David bought two plots of land at Pearns Point, at the end of the peninsula, and is having a luxury villa designed by British architect Andrew Goodenough who has designed many impressive properties in the Caribbean as well as for resorts such as Jumby Bay and Curtain Bluff in Antigua.
David owns several properties around the world including nine homes in Martha’s Vineyard and Nantucket and a villa in Oil Nut Bay in the BVI.
What made you buy in Antigua?
I had done a lot of research and wanted to buy on a Caribbean Island once owned by the British due to the laws they introduced and the familiarity with US laws. This discounted many other Caribbean islands.
I first fell in love with Antigua on a visit to Jumby Bay a few years ago and thought it was such a beautiful island. Aside from its aesthetic beauty, it’s also accessible and easier to get to than other Caribbean islands, with the international airport able to land 737s and 777s from the US and UK which brings in many visitors on direct flights.
It is also the yachting capital of the Caribbean, so that adds to its attraction and draws a lot of people with boats.
What made you buy at Pearns Point?
I fell in love with the location- it is unquestionably the most beautiful spot on the island. The topography and beaches are just incredible. Being on the west side of the island means the sunsets are amazing, so I bought plots on the most western point, so I have a fabulous view. The westerly location also means it does not have an issue with the Sargasso weeds that blight the east coast. I did a complete tour of the island and looked at other spots such as Half Moon Bay, Jumby Bay, Rosewood but decided Pearns Point was by far the best location.
Did you buy for investment or for lifestyle reasons?
As I run a private equity company, I won’t have much time to use it, but I will hopefully at some stage in the future. In the meantime, I will rent it out and I am sure I will be popular due to its location.
My investment choices are very simple – I invest where there is an imbalance between supply and demand and where there are high barriers to entry. Waterfront properties are in short supply in the Caribbean and people always want to stay in them. Having bought the 3 most westerly acres my property is very unlikely to go down in price, and in an inflationary environment, it’s best to own real estate assets.