The BVI aren’t as easy to get to as, for instance, Antigua. The main airport can’t accommodate large planes, so it filters out the mass-market tourists. This is part of the lure of BVI. Unlike most other Caribbean-island nations, which are almost totally reliant on tourism, the BVI chooses not to court cruise-ship and package holidaymakers (who spend less per head anyway), and instead welcome guests who arrive on yachts and small private planes.
Politically stable, with a trusted reputation as an offshore banking haven, the BVI can afford to be elite. According to a Financial Times report from 2007, ‘The BVI is one of the wealthiest corners of the planet, and its inhabitants on average are better off than those of the UK.’
There are about 60 islands in the British Virgin Islands chain, which create breathtaking scenery. Sail between the islands and you will find private hidden caves, beaches, snorkelling and diving spots.
The self-confidence in BVI extends to the way property is bought and sold. Before a foreigner – a ‘non-belonger,’ in local-speak – can buy property, it has to be offered at the agreed price to local ‘belongers.’ Prices have held fast throughout the global downturn, largely due to the permanent lack of supply, which means that prices start big and get even bigger.
Some examples include
Nanny Cay, Tortola: 32 waterfront townhomes with a mooring at each for a small boat, on a private waterway, with the option of keeping a larger yacht in the full marina. Prices start at $650,000 for the freehold of a two-bedroom semi-detached house with sea views, and there’s an optional rental program.
Virgin Gorda: more laid back than Tortola, which is the hub of business and politics. Under development, Oil Nut Bay, on an extremely private peninsula nearby accessible only by sea or by air, has three types of property, all for sale freehold: estate lots of between one and 10 acres, priced from $2 million to $25 million upon which buyers build their own property; beach villas with four to six bedrooms, each with private pool and intimate spaces, from $7.95 million; and ridge villas situated on the top of the peninsula with outstanding views of the Atlantic and the Caribbean, from $5.25 million.
Also on Virgin Gorda is Rosewood’s Little Dix Bay, a luxury retreat, which is developing a very select number of private villas in the hills above the resort. These two- and three-bedroom villas will have open-plan living spaces and vaulted ceilings with timber framing and spectacular views, as well as private pools. Owners will have access to all the facilities in the hotel, including the wonderful beach, and there’s an optional rental program. Prices start at $2.25 million.
Our Coldwell Banker agents can provide sales and resort information for any of these properties. Use our expertise and professionalism to find out more about investing in British Virgin Islands real estate.