Are Virgin Islanders being pushed out of the real estate market?
It is a question many Virgin Islanders continue to ask as luxury villas rise across the territory and million-dollar sales make headlines: why are locals being priced out of their own real estate market?
While that concern is widely shared, data from the 2025 BVI Property Review, prepared by the Smiths Gore & Cire, shows that what is really happening is the existence of two very different real estate markets in the BVI.
One market is the luxury sector, driven largely by non-belongers buying high-end homes in places like Oil Nut Bay, Moskito Island, Little Dix Bay, and Biras Creek. In 2025, the average home price paid by non-belongers was $2.0 million. Although these properties attract attention, they make up only about 4% of all property transactions. They also account for as much as 60 percent of the total value of the market in some years, which can create the impression that prices are rising across the board.
The second market is the much larger market — where Belongers buy. Sales in this category increased from 27 in 2024 to 37 in 2025. Only 15 homes sold above $1 million in 2025, and just six homes sold for more than $2 million, showing that locals are buying more than foreigners, they’re just buying cheaper properties.
Land sales tell a similar story. While overall residential lot sales declined by 20 percent between 2024 and 2025, the report shows that 70 percent of all residential lots sold in 2025 were priced under $100,000 — a price range more commonly accessed by local buyers.
In short, while luxury sales by non-belongers continue to shape headlines and overall market value, the figures suggest that locals remain firmly active — and dominant — in the regular housing and land market, rather than being pushed out altogether.
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Hell yeah
Don’t understand how BVIslanders are being pushed out of the real Estate market when they are the landowners and voluntarily sell their land by chojce.
in fact no…just read the last sentence.
I read the headline and surmised that the implication was in the affirmative..
Sorry for the vexation.
Have a pleasant weekend.
Because the elders try their hardest to hold on to their land, but the stupid, greedy children sell it off.
… for peanuts
It would be interesting to dig deeper into these sales. Maybe the old folks held onto property because they lived and worked in the BVI. Their children and grandchildren, often US citizens because they were born in St. Thomas, went overseas to work where salaries were higher. Eventually those emigrants lose their connection to the BVI, and may not feel the same attachment to the land. This is speculation, but maybe the underlying issue is BVI landers making more money abroad than they can in the BVI.
No for years, the BVI have held these people in check but now, because of big money on the table, they have opened the floodgates. Our biggest market share of our food. Supply is controlled by an outside corporation.
And now a local wants to front for a big international hotel at prospect. Our choice of leadership and our rejection of some who offered themselves and courage has come home to roost on the people and voters who didn’t understand the game, and only saw the handouts and sweet talk.
Which local(s) can afford $200mil for a hotel development and a properly branded hotel to sign on? Let’s be real! If we let the Hotel/Resort come in alone it will be a problem. If they get locals involved it’s a bigger problem. Sometimes I think some people just want to see the BVI remain stagnated so they can wake up daily with something to cry about. Hotel developments globally are done via partnerships/franchising, so what are you really saying?
WTF are you talking about? Who owns the land in bulk and selling it in bulk? Isn’t it Virgin Islanders? VI people own land and then whatever land the Crown/Government owns is sometimes divided into lots and sold very cheaply to locals. So, explain? Or are you saying locals are selling their birthright in order to drive 90K vehicles, take trips globally, wear the top of the line gears and pretend to be wealthy people? If that’s what you mean then I guess it’s true. Anything else is pure rubbish. And for those talking about land values exceeding when expats buy it you may want to do some research and understand how property value works. The value of ‘raw’ land vs a land with development plans with long-term vision and execution are totally different! Stop being victims and get with the program. Stop selling your land, lease your land, buy a KIA not a Benz, build income generating properties that people want not the ugly boxes with no appeal our outdoor usage that nobody wants.
Who is selling normal non luxury house lots and prices regular folks cannot afford? How many BVI Islanders are calling these high prices for a quick payout?
Bvi go so much millionaires? Buying homes for 1mil and 2 mil?
Is the elite family and upper classes exclude?
Did it exclude locals who have several assets and businesses and land and only looking to buy out more and more?
I think middle and lower class can only dream of buying a home or land for 1mil . So saved all them life while working 2 or 3 jobs for maybe 35 years then might be a possibility
Coming to an Anegada near you.
If others nuy , blame the sellers
Stop blsming outsiders for everything that gors wrong in the country
Land is overpriced and people only want to build villas for the wealthy. Either that or an overpriced glossy apartment that nobody wants to live in. People who earn $100,000 a year are referred to the Social Housing for a mortgage. Seriously, Social Housing built for people who can’t afford a home selling to people who should afford a home, but can’t because of the sheer greed infecting this place.
Nothing will change until everyone stop climbing over themselves to get rich quick. That includes everyone!