Each year, the number of residents migrating from the rural regions to the urban centers of the country is increasing, leading to an increase in job creation. Requirements for homes and commercial centers are also on the rise, making real estate a highly lucrative avenue for interested investors. The growing population of residents under age 15 indicates a boom in real estate in the future. Applicants are allowed to purchase real estate in pre-approved developments at a minimum value of US $400,000 (can be reduced to $200,000 for connected investors) plus the payment of government processing fees and due diligence fees. Two applicants can make a joint investment with each applicant investing a minimum of USD 200,000 in order to qualify. They are required to hold the property for a minimum of five years, before resale. Currently, the Government of Antigua and Barbuda is constructing a multi-resort project, Callaloo Cay, which is open for foreign investment.