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St. John is unique, it offers the opportunity to own a dream
home with magnificent ocean view on an island that is two-thirds
protected from development by the National Park Service. Price
tags fitting of a dream home nestled on a beautiful, protected
Caribbean island are of course attached! The allure of St. John is
in the lush green hills and beautiful white sand beaches. The
island offers a slow pace of living and is home to a small
community of about 4,200 people. ( Description continues after
featured listings, scroll down.)
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More Information
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St. John Board of Realtors
http://www.stjohnrealtorsvi.com
Information on building on St. John, buying a home or land, financing, insurance, schools, zoning, architecture and a complete list of St. John realtors is available from the St. John Board of Realtors' website.
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More Information
Call Us:
(340) 693-7325
Have a Question:
Send Us an E-mail
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Town & Country Real Estate
http://www.towncountryusvi.com
Our professional staff is happy to provide information on all properties offered for sale on St. John, USVI, including waterfront villas and mountain retreats. We can offer you luxury homes, cottages and vacation villas on beautiful St. John, as well as home sites, condos, and commercial properties. Visit our website to view properties and learn more.
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More Information
Call Us:
(340) 776-6666
Have a Question:
Send Us an E-mail
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Islandia Real Estate
http://www.islandiarealestate.com
Our six sales agents are all full time professional Realtors and include four brokers, three of whom are past Presidents of the St. John Board of Realtors. We work as a team to insure the best service possible for our customers and clients. Serving St. John for over 30 years. Visit our website for a searchable database of the MLS listings.
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The real estate market on St. John has been very strong in recent
years. For example in 2005, 54 houses were sold for a total of
$96,623,300 compared to 44 houses in 1999 at $19,707,000.
There are currently (November 2007) 117 houses on the market, ranging in size from a 1 bedroom on a .539 acre lot in Carolina for $310,000; to a 4,000 sq. ft. 4 bed/4 bath on a 2 acre Hansen Bay lot for $10,500,000. Most houses are designed with open styled floor plans, high ceilings and large decks to take advantage of the trade winds and the wonderful views. The average price of all 117 houses on the market is approximately $2,021,580. The greatest concentration of houses is between 700,000 and 1.2 million dollars. There are 33 houses listed below 1 million dollars.
Most residents finance their homes through conventional mortgages with local
banks. Interest rates are slightly higher in the Virgin Islands than on the
mainland. A typical down payment is 20 to 30 percent. Banks require
earthquake and windstorm insurance with mortgages; the cost is
around 2-3% of replacement value.
Property taxes are levied at 1.25% / $1000.00 of 60% assessed
value of the property or $0.75 per $100.00 assessed value.
Presently on the market there are 269 undeveloped land sites for sale ranging in price from $85,000 for .26 acres in Pastory; to $8,000,000 for 1.216 acres in Bethany. Looking for a private island? Thatch Cay, 237 acres, was on the market at $24,000,000. Properties within the National Park but not park owned are traditionally the most expensive. Land development and subdivision, like in Rendevous & Ditleff where there are currently 28 lots on the market, have increased the availabilities of land lots within the last year.
Factors to consider when looking for land include; location, view,
access to the property and any site preparations that might be
necessary in order to build. The average lot size is half an acre.
Building a home starts at around $300 per square foot and is
affected largely by materials used for building and finishing.
Keep in mind that preparations and special structural requirements
may need to be met making the total cost of the construction
project more. A cistern for water storage and a septic tank are
necessary components of a home on St. John. The cistern alone will
account for almost 10 percent of the total building cost. Land
owners should depend on the experts when it comes to building on
St. John; plans must be prepared by an architect, engineer or
draftsperson licensed in the Virgin Islands.
There are 14 condo developments on St. John and 3 more recently being constructed. Some are permanent residences and others are operated as time-share or fractional ownership. Most are located in or close to Cruz Bay. Currently on the market there are 53 condos ranging in price from $350,000 for a 1 bed/1 bath in Bethany to $2,550,000 for a 4,004 square foot 4 bed/4.5 bath in Enighed.
There are 213 time share units currently listed. The majority of which are located at Virgin Grand Estates & Villas and Westin Vacation Club, both in Chocolate Hole. Time shares range in price from $11,500 for a week in October for a studio to $385,000 for a 6 bed/4 bath villa. A large number of time shares are priced between $20,000 and $50,000.
There are presently 12 commercial opportunities available. They include a restaurant at $175,000, a gym at $75,000 and a charter business at $200,000.
The overall inventory of St. John real estate at this time
includes 664 listings.
The National Park protects about two thirds of the St. John
leaving limited amounts of property for development, this factor
adds to both the desire of owning property and the high prices.
Contact the featured real estate agents listed above for more
information on property on St. John.
Note: This section is dated
November 2007; prices, property estimates
and numbers reflect the market at the time this section was
written. Information is believed to be accurate but is not
guaranteed.
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