I lived on STJ 4 years ago for 3 years. We are considering returning to live 6 months of the year once it makes sense to do so. I've noticed some real estate sites talking about the ability to buy undamaged/slightly damaged villas at consider discounts over pre-hurricane sales prices. Not talking structures with no roofs or windows. Does anyone know if this is true or to what extent it's true?
Real Estate: Moving to STJ
It's unlikely you'll get much of a discount for an undamaged home right now. If anything, such properties are more valuable than ever.
I'm hearing just the opposite. That there is no buy demand and many wanting to sell because there villa ownership strategy was contingent on seasonal rentals and at least for this season there looks to be few takers.
This is an interesting topic, am hearing these opposing points of view as well, sure would be great to get some good info from the real estate community, sample recent closed sales data, days on market, price reduction histories, etc...but then it may just still be too soon to see a trend.
A STJ real estate company called 340 has a general post hurricane report on their website. It claims significant price reductions in the short term. St. Croix real estate in 1989 after Hugo could be instructive. Prices fell thru the floor for several years. In fact, much of the island was abandoned by gringos. Uncompleted houses still sit unclaimed there. Prices had returned to old levels just before the refinery closed.