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New Years News and New Listing – St. Barths Real Estate

Doug’s Take On St Barths Real Estate – January 2020

 

Happy New Year! If you were not on St Barths over New Years, let me tell you that it was one of the greatest holidays in memory. It seems like the island has come back better than ever. The rain blessed our special island this fall and left us with a lush green blanket.

The Collectivité (local government) has made great strides improving island infrastructure. Power lines have been buried under the roads throughout most of the island, including laying down new fiber optic cables. At the same time, long-needed sidewalks have been added, connecting village to village.

Almost every hotel has re-opened after completing major renovations and upgrades. Over the holidays we celebrated the 10th anniversary of Bonito, and on Dec 30 we co-hosted the White Party at St. Jean’s Lil’ Rock with David Zipkin of Tradewind and photographer Antoine Verglas. Over New Years, we witnessed the largest collection of super yachts ever seen on the island. Looking ahead, on March 20 during Bucket Regatta week we will be co-hosting a “Help St Barth” fund raiser at Lil’ Rock.. If you would like to attend, please send me an email at doug@wimco.com

It was active fall in real estate on St. Barths, with interest in both undeveloped land and existing villas. As for the season ahead, only time will tell what will be available the next time you visit the island. While the Christmas/New Years crowd may have the resources to buy property, they usually don’t buy then. Serious offers tend to be made from February to mid-May.

Inventory levels are what I would deem balanced with some great new, much needed inventory being recently added. Included in this list are two permitted lots in Gustavia with over the top views of the inner and outer harbor, and a “best of the best” 50MM euro villa as a private listing.

Land prices seem to be rising with the rest of the market; however the permitting process is becoming increasingly difficult. One reason is that the local government is attempting to slow the pace of new development. Additionally, the new carte d’urbanism calls for the maintenance of more natural vegetation within each plot, which adds time and complexity to development plans.

We have been fortunate enough to get a number of new very well-priced pocket listing investment opportunities in Gustavia as well as two of the ever-elusive reasonably priced (under € 2.5 million) new construction villas! Please feel free to give me a call at +1 508 -221 -5527 for details.

Best,

Doug Foregger

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