Airbnb, the country’s top rental marketplace, has announced that the U.S. Virgin Islands is the most sought after Caribbean destination for tourists. St. Thomas in particular has seen an absolutely astounding 600% increase in bookings year over year. No one can deny how disruptive hurricanes Irma and Maria were but clean up and restoration efforts have been incredibly successful. It’s great to see that the beauty of The Islands is once again attracting a huge number of tourists now that life here has mostly returned to normal.
In fact, one of the sectors still struggling with the aftereffects are the region’s many hotels. Nearly half of The Islands’ hotel rooms remain out of operation. Even the Marriott Frenchman’s Reef Hotel, the largest hotel in The Islands at 479 rooms, won’t reopen until at least 2020. And while we sincerely wish all these enterprises a speedy recovery it’s undeniable that their unavailability has supercharged an already strong demand for new rental property in the region.
Peter Briggs at JF Real Estate has seen the results, “There has been exciting growth and news for property owners looking to monetize their ownership with rental income. Clients of mine who have purchased condos & homes within the last year and opted to monetize them can vouch for this growth, with fabulous rental calendars!”
If you are looking to buy investment property in U.S. Virgin Islands, you couldn’t pick a better time. JF Real Estate associates are ready to show you some of the best places to invest in real estate in the Caribbean, including many that can be easily transformed into incredible rental properties. Check out some of the best property investments The Islands have to offer!