Whether you’re a first-time homebuyer or seasoned veteran, buying in the USVI has an array of opportunities available.
INVESTMENT OPPORTUNITIES
The last major construction boom in St. Thomas was in the 1970s. This period saw many USVI waterfront locations developed including a large portion of its rentals. Afterwards, the pace of development in the U.S. Virgin Islands slowed considerably even though its global reputation as an incredible vacation spot continued to grow. This has created a situation where hotel room market supply in the USVI is 2,500 rooms below ideal capacity. Adding new units by converting residential properties into timeshares or short-term rentals is a sensible way to make the most of the current market and earn a great return on initial investment.We foresee a steady demand for new long-term (corporate), multi-family, and short term (Airbrb, HomeAway, or VRBO) rentals well into the future.
LUXURY REAL ESTATE MARKET
The wide range of luxury properties currently available along with a temporary slowdown in demand means that right now is a great time to check out the unique opportunities available within the USVI luxury market. We expect demand to increase sharply once the USVI government finishes retooling its Economic Development Commission Tax Incentive Program.
THE CONDOMINIUM LIFESTYLE
For those looking for the luxury lifestyle without the luxury price tag, condominiums in the USVI are an excellent place to start.