St. Croix Real Estate Climate
The U.S. Virgin Islands is sighing a huge breath of relief having been spared the wrath of “Hurricane Gonzalo”. If anyone knows how to prepare for hurricanes and takes hurricane warnings seriously, it’s Virgin Islanders. Our heartfelt wishes for a most speedy recovery to those island neighbors who weren’t as fortunate. The Virgin Islands water and power authority better known as WAPA is headed to St. Martin to assist with restoring power lines.
Now we continue to move forward to prepare for our fast approaching “high season”. That would be the upcoming fall and winter months where those of you living stateside have freezing cold temperatures to look forward to while we enjoy sunshine and cooling trade winds with average temperatures at a balmy 80 degrees.
Now is a great time to consider your winter getaway on St. Croix, where the prices are at an all time low. The climate of the St. Croix real estate market is HOT!! It is a buyer’s market with opportunity to fill everyone’s dreams, whether it be a small business or large business where you can take advantage of the Economic Development Commission (Authority) tax exemption benefits. This program offers a 90%
reduction in local corporate tax payments on income from the EDC business, a 90% reduction in personal income tax on corporate dividends, S corporation distributions or partnership distributions paid to qualify USVI residents, a 100% exemption from property taxes and from gross receipts taxes. Additional deductions are offered on customs duty rates
If it is a home away from home for the winter that sounds like a great way to escape the cold this upcoming winter, purchasing a condo might be the best bet. Please search the MLS for condo properties from my website to get an idea of the reasonable prices and the great selection.
Of course there is no better time to purchase a home. The prices on St. Croix compared to home prices on our sister islands of St. Thomas and St. John are nothing less than incredible deals. Your money buys A LOT on St. Croix or a nice sized condo, or the perfect island home. Contact Diana Robinson at Paradise Properties to preview all the best deals out there just waiting for you!!