Is Caribbean real estate on the upswing once again? There appear to be signs that investors are willing to bring their money back to paradise. Oil Nut Bay is a luxury resort community on a private peninsula on the eastern tip of Virgin Gorda in the British Virgin Islands that is under construction. A beach villa model home (the "Jewel Box") recently made its debut and the Beach Club is slated to open this season in November/December 2010.
The 300-acre community is a low density property that is half open space with 88 properties available for freehold whole ownership. It is designed to be a family-centered community. The development will eventually include a marine nature center, kids club, full service spa, wellness center, beach club and marina. Each property comes with its own boat slip in the marina. There will be a rental program offering either beachfront villas or secluded private estates.
The project is currently in the first sales phase. The 27 custom home sites at Oil Nut Bay, range in size from 1.5 to 10 acres, priced from $1.95- $25 million. There are nine three-to-six bedroom Beach Villa lots on oceanfront, each with a private infinity edge pool and intimate spaces that are listed for $6.95 - 9.95 million. A total of seven Ridge Villa lots designed in size from 3,000-8,000 sq. ft., from $2.65 – 3.76 million, providing expansive living quarters, private pools and spectacular views.
Gallery: The Jewel Box at Oil Nut Bay