PROPERTY FOR SALE

Coral Bay St John Virgin Islands
Property For Sale

340 Real Estate Company340realestateco@gmail.com
340-643-6068 | 340-779-4478 

340realestateco.com

Property for Sale in Coral Bay St. John USVI offered by 340 Real Estate Company.  Licensed US Virgin Islands Real Estate Broker and Owner of 340 Real Estate Company, Tammy Donnelly, has been living on St John since 1978. Tammy has served on the St John Board of Realtors for seven years; two terms as President, a Board member of the Fish Bay Owners Association, and supports many other community service organizations. For more information on Tammy Donnelly check out featuredagentmagazine.com.

Offering property for sale including areas around Coral Bay we call East End, Upper and Lower Carolina, Johns Folly, Calabash Boom, Ajax Peak, Fortsberg, Hurricane Hole, and Bordeaux Mountain.

St. John US Virgin Islands
Homes and Business for Sale

Sea Forth St John

Town and Country Building

Coral Bay Outlook

3 Bedroom for Sale in Coral Bay St John VI

Bay Tree Cottages

340realestateco@gmail.com
340-643-6068 | 340-779-4478
340 Real Estate Company340realestateco.com

St. John US Virgin Islands Land for Sale

2 acres for sale

Freeman's Ground For Sale

Coral Bay Land for Sale

8-37 Emmaus for Sale

340realestateco@gmail.com
340-643-6068 | 340-779-4478
340 Real Estate Company340realestateco.com

VIRGIN ISLAND
REAL ESTATE OWNERSHIP INFORMATION

Ownership is “fee simple” being under the U.S. flag here. There are no restrictions against purchasing solely for investment, and no laws dictating when, if ever, you must build on undeveloped land.

Property taxes are relatively low compared to many stateside areas. The property tax is based on the purchase price multiplied by following mill rates:

Homes/ Condos .003770 Commercial .007110

Timeshares .014070 Land .004946

All real estate transactions require a Government Transfer Tax (stamp tax), which can be paid by the buyer or seller; however, the Government holds the seller responsible for the payment at closing.

2% for property valued up to $350,000
2.5% for property valued from $350,001 to $1,000,000
3% for property valued from $1,000,001 to $5,000,000
3.5% for property valued over $5,000,001

Mortgage loans are available with banking institutions doing business in the Virgin Islands and with Leeward Island Mortgages. The buyer is responsible for the payment of a property appraisal, a survey and surveyor’s certificate, title search and title insurance, and bank attorney fees.

Windstorm and earthquake insurance is required for all home mortgage loans. The cost is approximately 2% to 3% of the replacement value. The cost varies due to types of construction, hurricane shutters and more.

All new construction must be engineered and built to VI building code to withstand at least 110 mph wind speed and Zone 4 earthquakes.

Building costs are approximately $400.00 per square foot and up, depending on the finishes.

Residential Properties: Approximately 120 properties available ranging from a modest one bedroom cottage priced at $129,000 $299,000 to a luxury villa in Peter Bay for 6 bedroom villa at $14 million +.

Condominiums: Approximately 13 almost carefree properties ranging from a one bedroom unit priced at $300,000. to an elegant 3 bedroom Sirenusa unit $2 million plus.

Land: About 178 listings very different properties starting at $45,000 for a lot comprising less than 0.25 of an acre to large parcels with subdivision possibilities priced as high as $5 million plus.

Commercial: Most commercial real estate for sale are leaseholds. Occasionally an actual building & plazas are listed for sale.

Fractional/Timeshare: At least 78 dates and timeframes to own your piece of the Rock. “Timeshare” generally refers to the Westin, but there are others.

340realestateco@gmail.com
340-643-6068 | 340-779-4478 

340 Real Estate Company340realestateco.com