How you view our prices will depend on where you currently live. Most feel that gorgeous beachfront estates are well below the market compared to any stateside equivalent...nothing is really equivalent to us in that we are surrounded by crystal clear blue water which is swimmable all year round. It is best to use the knowledge of our St Croix Real Estate professionals at Coldwell Banker St. Croix Realty when purchasing property on the big island. We know property values and help you locate financing, builders and other necessary island professionals.
Homes sizes are 1500 square feet to 6,000 square feet and some include a rental apartment or cottage. Often people have asked after looking at the home square footage on the MLS (Multiple Listing Service) why our homes seem a bit smaller than in the states. We mostly describe homes in interior square footage. However, we live outside year round and most of our homes have ample covered galleries and additional alfresco living space. Home prices start under $200,000 and can go to several million dollars. If you are looking for a home that you will rent to other vacationers when you're not here, plan to spend $700,000 and more.
Many who plan to be on the island infrequently often choose to purchase a condo. This allows the tax advantage of property ownership with the reduction of responsibilities. Condominium prices range from under $100,000 to over $1 million. Monthly condo fees range from $500 to over $1,000 due to the cost of windstorm insurance, full-time property managers and the type and number of amenities offered by the condominium complex.
Homesites range from a quarter acre to a couple of acres; most are between a half and a full acre. There are numerous factors to consider when buying a lot. Orientation to the tropical tradewinds, grade, salt spray, road access and availability of utility connections and, of course, location and view will affect the desirability, cost and the type of home you can build. Lots range from under $25,000 to over $500,000 for waterfront homesites. Construction costs per square foot start at about $200 and go up from there depending on your site, finishings and amenities.
There are more than fifteen commercial centers with office and commercial space on St. Croix. These spaces range from historical landmark buildings in downtown Christiansted and Frederiksted, to more modern and commercial sites. Typically, office space rents for $10-$20 per square foot annually, while retail space rents for $10-$50 a square foot annually.
The St. Croix Industrial Park, developed by the Virgin Island government and the public Industrial Park Corporation also have rental space available at rates starting at $2.50 per square foot and reserved for companies qualifying for benefits granted by the EDC www.usvieda.org.. Prices for bare land in appropriate commercial areas start at about $60,000 and go up from there depending on acreage.
As you can see the choice and methods to purchase property in St Croix are vast. Whether you want to make this your permanent residence, an investment for your future or even a commercial real estate aspect, it is advisable to use a trusted estate agent. For your St Croix Real Estate needs, St. Croix Realty is the most trusted estate agent on St Croix.