In 2017 we were on a track for what was a record year in real estate on the island, however it was cut short just before high season by Hurricane Irma on Sept. 6th, 2017. That had been almost 10 years since the last boom market on our island of Sint Maarten.
The island recovered slowly through 2018, with some good deals to be had, but most owners held knowing what they have.
Business was back on track by Fall 2019, with activity picking up quickly, sales were excellent. There were still some good deals, but sellers could also sense the pickup. New projects were announced and pre-sold successfully. 2020 was our boom year!
However, 2020 was the stubborn child we need to put into time out. We all took a couple of months of time out, however inquiries and buyers pent-up demand continued to build. June and July has been extremely active. This is what other island Brokers we talked to have also confirmed. So much so, we felt compelled to send out this news letter to let everyone know.
If we go back to 2017 and the fact that we were on the verge of that boom, we have been building up active market pressure since. These 2 years on the island has backed up a lot of business. Barring an alien ship landing sometime soon, we should be back to normal by years end, and we feel it will be very strong.
COVID is an eye-opener to buyers.
Real estate markets in many parts of USA and Canada are booming as we speak. Talk to any good agent, they will tell you they are hyper-busy. Low DOM, and upward pressure on prices. Low interest rates are helping to fuel this demand as well as short supply, but also emotion plays a part as well. Enough procrastinating.
The dreams of having that retirement or investment property that they can enjoy NOW. A sense of urgency has come into play.
We are here to help you. We are Expats and can help you become one. We made the leap into the Caribbean and our advice is not to wait. It is amazing here, every day.
There are still some low hanging fruit as well, we have an amazing condo in Porto Cupecoy that was just reduced to US$499,000. It is an estate sale and will consider clean, solid offers. That buys you a large 2 bed, 2.5 bath with private plunge pool (that needs some work).
With all that is going on in this wonderful world, make it even more wonderful by owning a piece of paradise to escape all the madness. Contact us to start your journey. Our airport should reopen fully by August, but we are now accepting regional flights and from France and Holland.