Growth in tourism, both stayover and cruise, is proving a boost to the real estate sector in St. Maarten/St. Martin. There is a visible an increase in luxury real estate sales and the entrance of exclusive luxury villas on the market available via Century 21 Island Realty St. Maarten.
Indications are that St. Maarten is having growth in overseas visitor arrivals – both cruise and stay over – and the real estate sector is seeing a spin off. Visitors are keen to extend their time on the dual French/Dutch island.
A striking increase in luxury real estate sales was noted in 2015. “The interest is high end villas and condos continues to grow. The market is seeing interests and purchases. The island is noted for maintaining its real estate prices and for being a good option of a second home or pure investment property. Those fact continues to drive the market,” says Century 21 Island Realty St. Maarten Head Broker Ritika Nanwani.
She says the trend of visitor inspired purchases is expected to continue this year. “The island draw for cruise and stay over visitors allows for the destination to be seen and experienced by many. And, where people see potential they want to put down roots,” Nanwani says.
Fueling interest is the steady economic growth in the United States, the island’s main feeder market for tourism and investments. Positive changes in parts of the Euro Zone have also been helpful, Nanwani says.
Both growth in the United States and some recovery in the Euro Zone has had effects on the local real estate market due to the island’s strong links to both areas. People, especially young professionals, are house hunting. “Many of them have just returned for studies of working in Europe and elsewhere and are seeking to put down roots after year away. This is also driving the real estate sector,” says Nanwani.
Several new developments on St. Maarten/St. Martin are in the pipeline or have revved up again. They cater to the top end of the market as well as the middle level where housing is much needed. “It is a great time to acquire land to build single family homes, townhouses or condos. The market is there and we have prime land listed for sale,” Nanwani says.
Century 21 Island Realty St. Maarten has a wide listing of properties starting from the high end of the market to prime land seeking a willing developers. Century 21 is also offers property management service for owners living on the island or abroad.