Costs to Buy and Own BVI Property

Buying BVI! The fees associated with buying land or homes in the British Virgin Islands are a little different compared with buying real estate elsewhere in the world. The good news is, these fees are not at all out of line — and worth every penny considering you’ll own a piece of paradise on a tropical island!

Initial costs of buying your BVI property

Stamp duties and transfer fees:

Non-Belongers: 12% of the purchase price or appraised value of the property being acquired

Belongers: 4% of the purchase price or appraised value of the property being acquired

Attorney fees:
Property law firms in the BVI usually charge 1-2% of the purchase price.

Property valuations:
Formal appraisal fees can vary but are generally $600 – $1500 USD.


  • Structural integrity surveys are usually around $1,500-$2,000 USD.
    Add electrical, plumbing, and roof inspections at a negotiated rate.

Bank Financing
Mortgage point fees vary but are generally 0.5%-1% of the loan cost and lawyer fees normally 0.5%.

Interest Rates

Banks in the British Virgin Islands* currently cover around 80% of the property value, but the actual percentage will of course depend upon your financials.

  • Home loans typically run between 5%-6% annual interest.
  • Construction loan interest rates can go as high as 8%.

*Republic Bank, Banco Popular, First Bank, CIBC First Caribbean International, VP Bank, and National Bank of the Virgin Islands.

Buying BVI - Yearly real estate fees in the BVI

Annual property taxes

  • Land tax in the BVI is $50 USD for the first half acre, and $150 USD for acreage from half to one full acre. Add $50 USD per additional acre. (Example: A 2-acre parcel of land would be taxed at $250 annually.)
  • Houses, villas, and condominiums are taxed at 1.5% of the assessed annual rental value of the property. This amounts to approximately $300-$500 USD but is usually no more than $1,000 annually.

House insurance:
Full homeowners property insurance — which normally covers all perils such as hurricanes, earthquakes, tsunamis, and floods — costs about $1,000 annually per $100,000 of coverage provided. Deductibles are usually around 2% of total coverage range.

Call or contact Emerald Properties BVI 284-541-6861; your trusted partner for Buying BVI.

Buying BVI Land