Market Trends on the Real Estate Market
Real estate prices on St. Maarten/St. Martin have steadily risen, with an average growth rate of 7 to 10 percent annually leading into 2025. In recent years, several new condominium projects have sold all their inventory during the early phases of construction. Some are smaller/medium-sized boutique buildings such as Pelican Heights and Lajas, while others are high-rise communities such as Mullet Bay Fourteen and The Hills. If condo living is not for you, the island also offers fantastic opportunities for those looking to own a freestanding villa. For those who want to take on the challenge of building their dream Caribbean home, the island still has a few great opportunities to purchase undeveloped land—and with no annual real estate taxes (Dutch side). You can acquire your dream location and hold onto it until you are ready to build.
Since the global pandemic, the luxury segment for second home ownership throughout the Caribbean has exploded. Islands such as Turks & Caicos and the Bahamas have seen unprecedented sales in the ultra-luxury segment, and this trend now seems to be expanding to other islands within the region. Developers have taken notice of this opportunity as it relates to St. Maarten/St. Martin, which has all the key ingredients to benefit from this new ultra-luxury trend. With the complete over hauland modernized upgrade of the Princess Juliana International Airport, the island has once again reestablished itself as the regional hub for the Northeastern Caribbean.
Two new projects that have just broken ground in 2024 seem poised and ready to raise the bar for luxury living in St. Maarten/St. Martin. Vie L’Ven in Indigo Bay by Altree Development will become the first five-star resort on the Dutch side of St. Maarten, complete with lush tropical gardens, Michelin-star restaurants, a 40,000-square-foot nature spa, and, of course, beachfront luxury living. Ownership opportunities at this Condo Hotel community start around US $800,000 and go into the millions. Another new development that is turning heads and is expected to become the new benchmark for luxury condos on the island is the Ocean Residences by the Gioia Group, located on a peninsula at the southern tip of Simpson Bay Beach, at the marine entrance of the Simpson Bay Lagoon. This iconic location will be complemented by a state-of-the-art eight-level modern building and will boast a glass-edge infinity pool above the ocean, several gourmet restaurants, direct beach access, a rooftop gym, and 54 spacious condos—all with ocean views and large outdoor spaces.
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