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I currently live on Key West, FL. Over the past 15 yrs, long before I arrived, the cost of real estate began to climb and now has gone astronomically high. City/County government considering rent control and or construction of subsidized housing to house the working class. Do any of you see a similar thing beginning to take place on St Thomas? Check out the real estate prices of Key West when you find yourself bored with little to do. You'll have to laugh when you see the asking price for .25 acre.
Marcus
Posted : February 18, 2005 7:42 am
also what about STX home inflation?
Posted : February 18, 2005 12:20 pm
There have been several posts regarding real estate in the usvi. One just below (home values)..Do a search and you will get a bunch of information.
The simple answer is Yes real estate here has done very well over the past year, especially on St John. St Thomas and St Croix have seen their best increase in years.
However , it is nothing in camparison to parts of Florida and California. In the very best regions homeowners have seen their homes increase 20% to 40% a year for several years running. Homes in Florida and California that just a few years ago sold for $150,000 now are selling for $600,000 and $800.000.
On St John the same real estate run up has happened.
On St Thomas and St Croix condos are still a good buy (if you can afford the homeowner/insurance fees). But some have gone up 60% to 80%. Others for various reasons remain somewhat depressed.
Good quality single family homes on both STT and STX have also shown a significant increase over the past year or so.
Posted : February 19, 2005 3:38 pm
