Hurricane Irma devasted the island of Saint Barths on September 6, 2017: paradisiac landscapes turned into scenes of desolation. However, the population stood strong and did not lose one day to clean and repair, guaranteeing the reopening of its businesses a couple months later. At the beginning of 2019, it was almost impossible to see signs of damage: Saint Barth was even more charming than ever. Its most devoted visitors were able to come back by Thanksgiving 2019 and were in awe of the quality of the luxury that was offered. Unfortunately, the coronavirus crisis has put to an end the successful beginning of this year’s high season. Continue reading “Saint Barths: The Chance to Be an Island!”
It is interesting to compare the Stamp Duty (“Droit d’enregistrement“) applicable to real estate transfers in New York City with the one applicable in Saint Barts.
The new New York City stamp duty schedule, effective July 1st, 2019, will be as follows:
● $1 million to $1,999,999: 1.00% (same as previously)
● $2 million to $2,999,999: 1.25%
● $3 million to $4,999,999: 1.50%
● $5 million to $9,999,999: 2.25%
● $10 million to $14,999,999: 3.25%
● $15 million to $19,999,999: 3.50%
● $20 million to $24,999,999: 3.75%
● $25 million or more: 3.90%
Saint Barts, also called Saint Bart’s (“Saint-Barthélemy” in French) is an island of small dimensions, but it has already proved promising when it comes to real estate investments and development.
In fact, it is probably the sole Caribbean island that witnessed an uninterrupted expansion in the real estate segment, even during the recent economic recession. Moreover, in the last several years, the real estate transactions on the island began to manifest a noticeable increase in frequency, with a number of roughly twenty to thirty operations taking place annually.