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By Chris Smith
I'm not a gambling chap. But if I were a gambler, here's a bet I would take. Whether this is your first trip to the BVI or your tenth, I would bet you $10 that at least once during your trip you thought to yourself, "I wonder what it would be like to own a home in this incredibly beautiful place."
You may have gone a step further and perused the Internet for property listings or picked up the BVI Property Guide. If so, your heart probably had a quick chat with your head.
"Head," asked Heart, perhaps. "You're the one with all the brains. I know the British Virgin Islands would be a stunning place to live, with its perfect climate and incredible vistas. The people are so warm and friendly, and the pace of life would be wonderful! And I hear it's still oh-so safe. But am I just dreaming? Would it make any sense for us to own a home here?"
Head, who is usually somewhat dismissive of Heart's vacation daydreams, probably replied, "Funny you should mention that, dear Heart.
I was just thinking about the past couple of years. Our investments in the stock market have taken a battering. Who knows what will happen to property prices back home? The real estate market here in the BVI seems relatively stable; I've done the research. No big swings up or down in price, just a steady increase over the past decade or so. Certainly no price crash in recent history. All in all, it seems a pretty secure place to invest, what with the U.S. dollar as the currency and English common law as its judicial system. And just look around. The BVI government seems to have been very careful not to overdevelop the islands. Maybe investing in property here might not be such a bad idea."
Most encouraged, Heart pressed its luck. "Well, I would absolutely love to own a home here, but I hear the buying process can be really painful and take forever. I'm not sure I could cope…."
Taking the bait, Head protested, "Now I think that may be a bit of a myth. As I understand it, if you're not from the BVI, to own property you have to apply for a Non Belonger Land Holding Licence. I hear approval can take as little as three months, although I suspect the reality is closer to six months to get to closing. I could certainly live with that. It would take me that long to get organised anyway. It might even teach you a little patience along the way!"
And so it seems that for once Head and Heart could both agree. Investing in BVI property makes a lot of sense. The BVI market, small though it is, has done a rather good job of weathering the recent global economic storms. But what exactly to buy and on which island? Most of the homes are either on Tortola or Virgin Gorda, although Jost Van Dyke, Cooper Island, Anegada and the recently developed Scrub Island also pop up. Why would someone choose Tortola over Virgin Gorda or vice versa? Here are some of the considerations that are voiced by our home-hunting clients.
Quiet, peaceful and incredibly beautiful, Virgin Gorda is generally seen as perhaps slightly more upmarket and more exclusive than Tortola. This may be because it's home to Little Dix Bay Resort, Biras Creek Resort and the Bitter End Yacht Club, all of which have been attracting the more affluent visitors to the island for many years. To meet the demands of this well-to-do crowd, a number of high-end beachfront vacation villa estates have sprung up over the years. Mahoe Bay, Leverick Bay, Guavaberry Spring Bay, Crook Bay and Nail Bay have all been developed over the past decade or two. Oil Nut Bay is a new development, way on the eastern tip of Virgin Gorda, most definitely aiming at the high end. So, whilst Virgin Gorda is much smaller than Tortola, there's probably more choice on Virgin Gorda for the purchaser looking for a completed, high-end home in an exclusive neighbourhood, one from which he or she can truly live the dream and walk to the beach. Since most of the residential development on Virgin Gorda is on the north and west shorelines, it's hard not to find a spot where you can enjoy the sun setting behind the islands as the sailboats float by.
Tortola is catching up, however. Belmont Estates in West End has long been the favourite vacation villa spot, with easy access to the gorgeous beaches at Smuggler's Cove and Long Bay. Hot on its heels, Parker's Estate at Trunk Bay is on its way to becoming another top holiday home location, with its absolutely stunning beach and views of Guana Island, Camanoe and even Virgin Gorda and Anegada in the distance. Little Bay, again with its lovely, secluded beach, is also rapidly becoming quite the exclusive area.
Homes in the hills of Tortola not only provide absolutely stunning island vistas, they also tend to be much cooler and, if positioned correctly, enjoy far more of the trade wind breezes. If you look closely, you'll even see a chimney or two on some of the higher homes! Rarely used, one suspects. Whilst a glorious sunset view just off the beach sounds like the dream location, the practical realities of a sun-cooked home are sometimes less than ideal. In that regard Tortola offers far more choice, with many homes providing lovely southerly vistas or facing east to really catch the breeze.
For many of our clients, Virgin Gorda is also just too quiet. For them, Tortola seems somehow more vibrant and full of life. It certainly offers a far greater variety of bars and restaurants. There are several busy gyms, larger grocery stores, marinas, a very active sports club, even a multiplex cinema "coming soon," as we understand! Not that it applies to the second-home owners too much, but there are also a number of very well regarded schools and an excellent community college. All in all there's seemingly much more variety — practically, socially and culturally — on the big island.
The other consideration is simply getting there. If you come from Europe or the West Coast of the United States, chances are you will arrive, at best, late at night and, at worst, the next morning after having an overnight layover somewhere else. The last thing some people want is another leg added to the journey by boat or by tiny plane to Virgin Gorda. For some, this is a step too far. For others, being harder to get to has helped keep Virgin Gorda so special.
So when you decide to run away from it all and move to the BVI, just how remote do you really want to be? How much peace and quiet can you really stand? Having lived on both islands for a number of years, I'm somewhat torn. I don't recall ever being at a loose end during my years on Virgin Gorda. Far from it, and I loved every moment of it. But living in Tortola, the added convenience is certainly appreciated. Which would you prefer? No matter what you choose, you can't go wrong making your dream come true by owning a piece of BVI paradise.
Contact Chris Smith at Coldwell Banker Real Estate BVI by phone (495-3000) or e-mail him at chris@coldwellbankerbvi.com.
Nail Bay Luxury Villa Resort
P.O. Box 69, Virgin Gorda
Tel: 494-8000
ax: 495-6831
E-mail: ajit@nailbay.com
Come and be part of this 147-acre luxury villa resort on a historic waterfront sugar plantation below Gorda Peak overlooking Sir Francis Drake Channel. Serviced by newly paved concrete roads and underground utilities, Nail Bay offers modern conveniences such as high-speed Internet access and satellite television in many villas.
Oil Nut Bay
Virgin Gorda
Tel: 495-5400
Fax: 495-0048
E-mail: info@oilnutbaybvi.com
Website: www.oilnutbaybvi.com
An exclusive residential community sculpted from the natural splendour of the untouched eastern end of Virgin Gorda. Exquisite beachfront and cliffside homes, and generous home sites ranging from 1 to 10 acres offer spectacular Caribbean and Atlantic views. Luxurious amenities include wellness spa, marine nature centre, and casual and fine dining.
Show me business services available in the British Virgin Islands.
I'm not a gambling chap. But if I were a gambler, here's a bet I would take. Whether this is your first trip to the BVI or your tenth, I would bet you $10 that at least once during your trip you thought to yourself, "I wonder what it would be like to own a home in this incredibly beautiful place." 
I was just thinking about the past couple of years. Our investments in the stock market have taken a battering. Who knows what will happen to property prices back home? The real estate market here in the BVI seems relatively stable; I've done the research. No big swings up or down in price, just a steady increase over the past decade or so. Certainly no price crash in recent history. All in all, it seems a pretty secure place to invest, what with the U.S. dollar as the currency and English common law as its judicial system. And just look around. The BVI government seems to have been very careful not to overdevelop the islands. Maybe investing in property here might not be such a bad idea." 
And so it seems that for once Head and Heart could both agree. Investing in BVI property makes a lot of sense. The BVI market, small though it is, has done a rather good job of weathering the recent global economic storms. But what exactly to buy and on which island? Most of the homes are either on Tortola or Virgin Gorda, although Jost Van Dyke, Cooper Island, Anegada and the recently developed Scrub Island also pop up. Why would someone choose Tortola over Virgin Gorda or vice versa? Here are some of the considerations that are voiced by our home-hunting clients. 
Homes in the hills of Tortola not only provide absolutely stunning island vistas, they also tend to be much cooler and, if positioned correctly, enjoy far more of the trade wind breezes. If you look closely, you'll even see a chimney or two on some of the higher homes! Rarely used, one suspects. Whilst a glorious sunset view just off the beach sounds like the dream location, the practical realities of a sun-cooked home are sometimes less than ideal. In that regard Tortola offers far more choice, with many homes providing lovely southerly vistas or facing east to really catch the breeze. 
The other consideration is simply getting there. If you come from Europe or the West Coast of the United States, chances are you will arrive, at best, late at night and, at worst, the next morning after having an overnight layover somewhere else. The last thing some people want is another leg added to the journey by boat or by tiny plane to Virgin Gorda. For some, this is a step too far. For others, being harder to get to has helped keep Virgin Gorda so special. 
Nail Bay Luxury Villa Resort