A recent article in the New York Times, Real Estate in St. Martin, profiled a luxury home in St. Martin. It seems the real estate market in the Caribbean is heating up like a number of local real estate markets on the Jersey Shore, the Outer Banks and Ft. Lauderdale.
In the last six months, business has picked up and “is better this year than it was last year. The market is coming back, said Lesley Reed, the broker-owner of St. Martin Sotheby’s International Realty. The home profiled with an asking price of $3,900,00 does have some impressive rents going for $4,000 a week during the low season, from April 15 to Dec. 14. The high season rate of $9,000 weekly jumps to $15,000 for Christmas and New Year’s weeks.
It would be interesting to see how long a season a home in St. Martin offers. At $3,900,000 the home would need a long season to match the gross rental income found on some Outer Banks investment properties.
