Indigo Bay Villas – Should I Buy?

indigo-bay-villas

I was there at the birth of Indigo Bay Villas.
I was there when it took its first steps.
I saw it grow.
I saw it fall.
I was there to help it up.
Indigo Bay is a personal love affair.

You may think I am crazy, but Indigo Bay is close to me. I have spent twenty years of my life working on it. I know its dark secrets; I know why you should and shouldn’t buy there.

My honest review: It is the only well planned residential villa estate in Sint Maarten. The location, the security, the ocean views, landscape and the beach, there is nothing that comes in such a perfect package as Indigo Bay!

Indigo Bay Villas are designated as single-family homes only. This keeps the estate from being overdeveloped and there are also height restrictions to ensure everyone has an unobstructed view.

Once you have seen other properties in Sint Maarten, Indigo Bay sells itself. There is no comparison in terms of location!

Indigo Bay Long Lease

One issue that everyone brings up is the private lease. Indigo Bay is private lease land. In Sint Maarten all beachfront land or estates are sold under Government or Private Lease.

The lease is automatically renewed and it has been like this for centuries! There is absolutely nothing to worry about. This is common in most of the Caribbean islands.

How is Indigo Bay Long Lease Rent Calculated

The prorated Annual Long lease rent will be calculated & invoiced as follows:

  • The total Annual Long lease rent from 2019 until 2028 is $270,000.
  • As such, prorated annual Long lease rent per M2 = approximately $0.57 i.e. the present “Base rent”, based on a buildable area at Indigo Bay Villas of 475,000 M2 (117.4 acres).
  • As such, the 2019 Longlease rent for a 1,200 M2 Lot is approximately $682.
  • Prorated Longlease rent is applicable from the date of the Closing for each Lot.
  • The Base rent will remain in place until the end of 2028. For the period 2029-2088; the total annual Long lease rent will be $300,000 i.e. an increase of 11.11% via a one-time adjustment of the Base rent. As such the annual prorated Longlease rent for a 1,200 M2 Lot from 2029 until 2088 is about $758.

Even in today’s market, I have received three offers for Indigo Bay villas within the last two weeks. The interest in Indigo Bay just doesn’t stop.

Your villa will always appreciate in price. As they say, beachfront real estate never depreciates.

Indigo Bay Villas and Land:

Indigo Bay Lot for sale

Indigo Green Sea View Condo

Indigo Bay Land

Oceanview Land – Lot B7

Indigo Bay Home – Villa 20 – For Sale

Indigo Bay Villa Sand

Villa Sun

Villa Sea

Villa Sapphire

Villa Ruby

Villa Emerald

Indigo Bay Villa Diamond

Sun Rental

Saint Martin or Sint Maarten: Where do I buy my property?

Saint Martin or Sint Maarten Where to Buy Property

Here on the island, we don’t think of our home as two different countries.

We are one island!

Created as one, always be one.

However, the reality is that we are two separate nations, two separate legal systems. And it has with time become a unique feature of this little Caribbean island in the Lesser Antilles belt.

Saint Martin, French Side:

Lovingly called the French side, it is the larger of the two islands. You find a lot more natural beauty, peace and tranquillity. However a lot of the French stay on the Dutch side for the convenience of amenities, infrastructure, business and nightlife. I am always surprised how much of the Dutch Sint Maarten is owned by the French! But there are reasons for this!

Buying real estate on French St Martin comes with higher costs and taxes. It’s like buying a property in France, the same stringent laws!

Cost and problems of buying in St Martin (French side):

  • Around in 10% transfer fees; which includes Notary fees and taxes.
  • Land and Property tax!
  • Capital Gains Tax at 33.5%.
  • Offshore companies have restrictions.
  • Limited planning time. Penalties if you don’t build in a certain timeframe.
  • Very strict building regulations and zoning.

All this seems like a negative, but if you have the resources this is an advantage. This is why the most luxurious estates are in Terres Basses on the French side. The restrictions give you exclusivity and prevent over development.

Read this article in the New York Times titled: House Hunting in … St. Martin.
Verifies everything I just mentioned and gives you a first-hand experience on a buyer’s perspective.

But your money doesn’t work for you as it does on Sint Maarten, the Dutch side.

Sint Maarten, Dutch Side:

The more industrious and savvy side! You will find everything on the Dutch side. Over two hundred restaurants, casinos, nightclubs (strip clubs too!) and everything else that comes attached to an active nightlife!

If you live in Saint Martin (French side) you will find yourself spending most of your nights on the Dutch side. Sint Maarten has a vibe and everyone loves it!

Of course, Sint Maarten is a real estate paradise. Even the French buy more on the Dutch side than on the French side. Not only are the laws more favourable, you actually have a very high turnaround of real estate.

Buying on Sint Maarten (Dutch side):

  • 6% in transfer fees; which includes Notary and transfer fees.
  • No land taxes!
  • No Capital Gains Tax!
  • Easily obtain building permits and favourable zoning restrictions.
  • Investors are given the red carpet treatment.
  • You can buy a property within a few weeks!

Where do I buy my home? Sint Maarten or Saint Maarten?

If you are looking to make money from your real estate, the Dutch Sint Maarten gives you a lot more advantages than French Saint Martin.

Long term rents are much higher in Sint Maarten (Dutch), so your return on investment is better. Short term rates are attractive on both sides of this Caribbean island.

90% of investors buy on Sint Maarten, including the French themselves! Especially locations close to the French borders: Cole Bay and Oyster Pond.

To make it easier for you to find your next investment I have created a page just for the latest real estate investment in Sint Maarten.

I know you have more specific questions, so just message me using the contact form or email me on info@c21sxm.com. To make it easier, I am now available anytime on Whatsapp number +1721 526 1819.

Thank you for reading, looking forward to working with you soon.

Sint Maarten Real Estate Market After Covid19

Sint Maarten Real Estate Covid19

I have to admit when we hit lockdown around mid-March 2020, like everyone else, we were scared for our futures.

We returned back to work a little over four months ago and it has been phenomenal, with both good and bad experiences!

A disruption in the mindsets of owners has led to opportunities for buyers. However, with Sint Maarten being a strong real estate economy, most owners are comfortable waiting out the ‘buyers market’ for one more year. They know today we struggle, but tomorrow we will be back, mainly because there are no nearby islands that can fill the economic void. Sint Maarten has no competition!

Sint Maarten Home Sales:

The questions that we commonly hear. Have you sold any properties? Are there buyers?
The answer is an emphatic YES!

The luxury real estate market has not returned, but the mid to low market is on fire. Homes below $500,000 are selling fast and not seeing much movement in price. If you know you are well priced, then we will definitely sell!

Some owners are pricing their homes much higher than market value to brace themselves for a low offer, however it seems the initial price is deterring buyers from even showing interest to these properties.

Even interest in certain locations has vaned. Pointe Blanche and Philipsburg are at a standstill for now, due to uncertainty in the cruise ship industry.

Cole Bay, Cay Hill and Cupecoy are in high demand due to new developments and reasonable prices.

To confirm our success, please view the comments and questions we receive on our popular Facebook page.
Real Estate Sint Maarten

Sint Maarten Rentals:

With the closure of some bars, restaurants and tourist businesses a lot of the skilled labour on the island have left. This has created a temporary void in the rental market.

It may come as good news to some and bad news to others, that the rents are dropping in an effort to attract tenants.

However, at Century21, we are not seeing any slow down in long term rentals, in part to the aggressive efforts of our team. Bravo!

The short term rental market has inevitably suffered and as a result, some of the properties assigned to this market have been changing their business plan in favour of long term rentals. A necessary change.

Conclusion:

Overall investors and buyers are flocking into Sint Maarten! They are only looking at real estate deals. Of course, it’s too early to predict anything, hence we are sticking to facts for now.

Each location has its own story and in view of this, I would recommend talking to Ritika about how to proceed with your future real estate plans. Those twenty-six plus years in real estate are vital right now. Ritika may be the only real estate Broker in Sint Maarten seeing all the success, in great part to her endurance and experience!

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