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Doug’s Take On The Real Estate Market (September 2023)

Posted by wimcoreadmin on September 15, 2023
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doug real estate market st barts September 2023

Well, it’s been quite an interesting summer in the Saint Barth market. Surprisingly, and unlike most of the other high net worth areas that I track, there has been a significant amount of pressure and action at the top of the market. Why is this occurring? 

It seems that the uber wealthy (once again)need a place to store their money in times of uncertainty , and St Barth seems to be one of their avenues of choice. I would say that these buyers are truly in love with the island, but they seem to be motivated by more than love. They are taking a flight to safety, deciding that St. Barth is a safe place to store their money in a hard asset. These buyers are not the mere mortals among us they are the financial masters of the universe. In the middle market normal pressure for the summer and the low end of the market seemed to be very quiet, which is also relatively normal for the summer months. 

As for what the winter shall bring, obviously only time will tell. I feel that the middle and top of the market will remain active and strong. I predict that the lower end will be quieter until the middle of the first quarter when bonuses are paid out, etc.. if one was to possibly point out a soft spot in the St Barth market right now, it would be on non permitted land. Because of the collectivities reluctance to grant permits (and as a long term buyer)I would seriously consider un-permitted raw land in buildable zones, and attempt to acquire it at a 20% discount for all of my dealmakers out there. 

This will take patience and stamina to navigate through the current briar patch… Figure on two or three years and if you have the stomach for that that’s not a bad place to park some money. And always remember that the only thing certain is uncertainty.

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