The Outlook for British Virgin Islands Real Estate – Predictions and Opportunities
The unlimited recreational activities in BVI include tennis courts, horseback riding, mountain trails and coral reefs. The climate of BVI is sub-tropical. The winter temperature ranges from 22-28 degrees while in summers it stays around 26-31 degree centigrade. The total population of BVI is 20,000.
The economy has been very stable for BVI which has been a major driving force to attract the investors to the real estate in BVI. Along with financial services, the tourism industry has played a major role in developing the economy of this island. The total national income comprises of 45% of tourism income and BVI attends almost 350,000 visitors. These visitors are usually from Canada and USA. Due to the interest of tourists, BVI has developed sound and secure international listings to give various options including villas, cottages and condominiums with very attractive international rentals.
Over the last couple of years, the financial distress led to the melt down of setback as well which also affected the banking sector. The major sufferers were European and North American investors that are still struggling with their economies. Many banks in EU have not been able to pass the stress test which clearly indicated the distressed economy for this year too. However, this huge downfall in the internal real estate did not affect much on BVI which shows a positive trend for BVI.
The international real estate for sale includes a large number of options from BVI due to the following reasons which prevails on this island hence making it a most wanted place for tourism:
1. The GDP per capita and standard of living has been maintained along with stable political infrastructure in BVI.
2. The economy of BVI is exempted of any company, capital gains and personal taxes which are highly attractive for the investors. Along with this, the BVI rentals and very low property tax has been able to create a good exposure for the investors in BVI. For this reason, the international real estate exchange has been maintained in order to give more housing opportunities to investors.
3. Even though the real estate in BVI is very small and insignificant but the presence of landholding license system has helped develop a sustainable BVI for sale.
After the evaluation of these factors, it becomes clear that no matter how much the economy for adjoining British and North America is distressed, the BVI listings will always have the best property buying options. Even though the island is small and the demand exceeds the supply, but still BVI has been able to offer a lot on the international real estate for sale platform. The international agents are pretty much hopeful about the sustainability of the property industry in BVI.