4 minute read
The British Virgin Islands: Investing In Your Second Home
THE BRITISH VIRGIN ISLANDS
INVESTING IN YOUR SECOND HOME
By Rico Garcia ew places in the Caribbean offer US real estate investors as much as the British Virgin Islands. As travelers already know, this little slice of heaven is the perfect getaway to soak up the sun and enjoy its many beaches. Best of all, we are a short half-day away!
More recently, however, the the BVI has become an ideal second home destination for the new wave of baby boomers who are into retirement. Or, for the slightly younger professional, it’s one of the perks in life: Owning luxurious real estate in an idyllic setting like the BVI.
The BVI tax rates are one of the lowest in the world since the tax structure eliminates Profit, Capital Gains, Wealth, Inheritance, Gift, and Dividends taxes. (There are, however, payroll and land tax.) We use the US dollar, which makes for much smoother transactions with Americans. The age of the average buyer is 50 + who are primarily high net-worth individuals.
ISLAND HOPPING
The main islands for luxury real estate transactions are Tortola and Virgin Gorda. In Virgin Gorda, you can find developments and communities like Mahoe Bay, where you can find Aquamare ($19,800,000), Crooks Bay (Bay House: $3,500,000), and Oil Nut Bay (Marina Villa: $3,950,000).
Tortola has a higher population but offers the same tranquility along its coastlines, where you can find attractive real estate in neighborhoods like Trunk Bay (Vill Kai: $3,500,000), Hawks Nest (Hawks Nest Villa: $,1,200,000), Long Bay (Silver Palms: $2,150,000) and Belmont (Villa Rosa $1,950,000).
I’ve been fortunate enough to serve the BVI market for several years now. I find it exciting to be able to share my home with others. We are backed by the RE/MAX brand and enjoy the BVI as much as the many visitors that come here every year.
The BVI is a 10-minute chartered flight or 30-minute boat ride from the US Virgin Islands. It can also be reached easily in 25 minutes from Puerto Rico as the second leg of a trip. Purchasing real estate in the BVI consistently holds its value and is an excellent store of wealth. Most affluent property owners buy with equity or pay cash, so there are very few foreclosures in the BVI luxury market.
12.55 Acres | 5 Bedrooms | 6.5 Full Bathrooms | 8,021 SQFT | $39,500,000
On the eastern tip of Virgin Gorda, in the coveted North Sound region, lies a place where life is spent in perfect harmony with the ocean tides, where pristine white beaches and lush terrain quietly intersect, and where world-class architecture rests against the backdrop of an idyllic island landscape—a place of distinct refinement; a place called Oil Nut Bay. Spread across 400 exquisite acres and entirely surrounded by the turquoise waters of the Caribbean Sea, Oil Nut Bay offers freehold property ownership in the most pinnacle of locations in the British Virgin Islands. Accessible only by water or helicopter, the setting is exceptionally private and consciously preserved. Luxury villas custom-built into the island’s topography meld modern design elements with the natural elegance of the Caribbean, while island amenities including recreational activities, dining opportunities, and wellness services offer an altogether elite living experience in one of the world’s most sensational locales.
This 3 bedroom 3.5 bathroom house, with a 423 sq ft pool featuring a smooth trickling fountain, 1412 sq ft of external shaded seating & dining area, a 1878 sq ft of hardscape deck & terrace, sits on 1.8 acres of the iconic vista to the southern shores of Virgin Gorda. Offering a rare opportunity to prospective buyers to own such a uniquely contrasting property encompassing the great blue granite boulders, the natural vegetation of the Windward and Leeward Islands and golden sand shoreline. $3,500,000 Located in one of Tortola’s most coveted neighbourhood, Villa Kai has an unprecedented 5 En-Suite Master Bedrooms. Each suite with its own balcony, which makes it the perfect family vacation home. The main living space includes an ultra-modern gourmet kitchen and dining for 10. The indoor/outdoor, open concept has plenty of lounge seating for you to enjoy the unobstructed oceanfront view. This modern detached home also features a heated infinity-edge pool that floats effortlessly above the lush tropical greenery. However, if you want to feel the sand between your toes, you have direct access to the beach below. $3,500,000
RICO GARCIA | RE/MAX British Virgin Islands Cell: 1-284-340-2444 Email: ricogarcia@remax.net www.remax-bestpriced-bvi.com
