Real Estate Sales Predicted to Increase In St John
“Honeymoon island” recovery being led by high-end investors
The Virgin Islands were one of the top most resilient investments during the financial crisis, despite property prices taking a slight dip during 2013. Now however, St John is on the verge of following St Thomas’ recovery, where house sales have increased by 25 percent in 2014. With many prices still below what they were a few years ago, now is the time to invest in the exclusive St John areas of Cruz Bay, Coral Bay, Reef Bay and East End. The investment potential of St John is reinforced by the fact that condominium sales increased by 43 percent in 2014 compared to 2014, with revenue on sales going up by some 39 percent.
According to Realtor Association market reports, in St Thomas sales of over $1 million exceeded the past four years combined by around 500%, indicating that this beautiful area of the Caribbean is experiencing a renaissance as one of the most sought after areas for buying homes for investments, The recovery, led by high-end buyers, means that the Virgin Island’s real estate market has now recovered to its pre-crisis levels. However, with the St Thomas market now reaching relative saturation, St John is the next area set to see price increases at the top end of the market.
Already home to the likes of Richard Branson and Google’s, Larry Page, the islands offer a secluded haven for a range of property buyers, including those interested in condos, homes, or just for investments. St John is two thirds National Park, offering privacy and spectacular views, art shops, and quaint restaurants. It’s known as an exceptional, well-protected wildlife reserve. The tranquil, sophisticated lifestyle means that property prices and demand for rentals remains high.
Cruz Bay, for instance, has no night clubs and is awash with 18th century history and housing. It is also home to some 40 beaches. With an average beach temperature of 89 degrees, it is easy to see why tourists, investors and lifestyle enthusiasts can’t get enough of St John. Coral Bay and the East End offer the best there is of snorkeling on the island of St John. These tranquil spots are home to surreal coral and wildlife, including barracudas, sea turtles, and an array of other tropical fish. Furthermore, you get all that you expect from modern living, whatever your purchase intention and budget.
Crime is low, and all amenities – such as safe tap water – make for easy living. Vista Cielo is situated high up on the hills overlooking Cruz Bay and is perfect for either lifestyle buyers or investors. Overlooking crystal azure waters, peninsulas, and undeveloped national park land, it offers the best of what St John offers. Take a charter boat ride or venture down to the small coral reefs and red cliffs – the exquisite position of Honeymoon Island offers it all. Crystal azure waters and peninsulas flush with flora await your every morning.
Similarly, imagine owning a property near Caneel Bay, where you can hike through lush green tropic forestry to Honeymoon beach. Visit the Annaberg Plantation, where historically there was the production of sugar molasses and rum. St John is quieter than neighboring St Thomas and for that reason attracts different types of tourists and residents.
There’s everything you dreamed of and more in St John: a sophisticated lifestyle, nature, and history. To top it off, now the property market is returning to its pre-crisis excellent health. Now is the time to invest in Cruz Bay, Coral Bay, Reef Bay and the East End. It’s no wonder the price have been robust in this part of the Caribbean. Money follows value and beauty, and there are certainly few places in the world as beautiful and serene as St John. Whether you are looking for a condo, home, or investment property, this tranquil island offers it all. Market trends are also bringing in a favourable wind. The time for buying St John property is now.
Please contact us for expert advice on your investment options, whether you’re searching for your dream home or looking for a nest egg for the future. We have a wide range in our portfolio and can help with finances.