THE CARIBBEAN
U.S. VIRGIN ISLANDS
The U.S. Virgin Islands experienced a strong 2024, characterized by notable price gains and growing international interest in the region. Taken as a whole, the U.S. Virgin Islands saw a price increase of 17% for listings over US$1 million, many of which spent very little time on the market.
In St. John, despite a slight drop in overall transactions, the market remains robust, driven by a strong demand for high-end properties, especially villas, according to Keleigh Rees, managing director of Islandia Christie’s International Real Estate.
Market predictions for 2025 indicate continued demand, particularly in affluent areas such as Chocolate Hole, Rendezvous Bay and Peter Bay. However, the pace of price appreciation may slow as evolving global economic factors and declining mortgage rates make properties slightly more accessible. Rental properties, especially short-term vacation rentals, are expected to remain profitable as tourism thrives on the island. St. Croix has seen steady growth from high-net-worth individuals, especially those looking for a second or third home. And continued growth of St. Croix’s flourishing tourism sector is predicted to make the island’s luxury real estate market even more competitive, according to Rees. “As we approach 2025, the St. Croix market is expected to experience further appreciation driven by a combination of factors, including global economic shifts, a growing interest in remote work, and the island’s increasing reputation as a desirable destination,” she says.
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