Wall Street has taken to a new vacation spot this recently — the sunny shores of Anguilla.
It only takes a few bankers to open the floodgates:
“I went to Anguilla for the first time this Christmas as a guest of my bud,” one senior executive at a major bank told Business Insider. “It’s kind of like Davos. People go to say they go.”
Laid-back yet luxurious, Anguilla is loved for its white sand beaches, turquoise ocean and tropical weather. It makes for a more quiet and reserved vacation, the main draw being relaxing scenery and simplicity, rather than touristy attractions and noisy night life.
That’s what has always drawn wealthy visitors and high profile celebrities to the small Caribbean island, says Debbie Haines from Trophy Properties. It’s only in recent months, though, that the company has noticed an uptick in Wall Streeters.
“There were more private planes over the Christmas/New Year timeframe than we can even house on island so they need to park at a neighbouring island of St. Martin,” Haines wrote in an email to Business Insider.
She said Trophy Properties is in currently discussion with a handful of interested buyers who work at investment banks, hedge funds and private equity firms.
Located on the northernmost tip of the Leeward Islands, Anguilla is only 16 miles long and 3 miles wide, making it easy to get to any of its 33 public beaches. The ocean water is well suited for wind and kite surfers, but will occasionally see some bigger waves. St. Martin is a short ferry ride away, and visitors can sometimes spot other nearby islands such as Saba and St. Bart’s from Anguilla’s shorelines.
Anyone looking to scope out the island can check into some of the island’s popular hotels: Cap Juluca, the super luxurious Viceroy Anguilla, CuisinArt Resort and Spa or Malliouhana Hotel and Spa.
Haines attributes the influx of Wall Street interest in the island to several factors: bonus season, privacy and a convenient flight from the East Coast. But the biggest reason for the trend, she said, is Wall Street’s ability to recognise a growing market.
“The price points here though are actually quite enticing compared to NY or the Hamptons for comparable properties,” she said. “This is probably the last year they can buy relatively low as the market is now on the rise after a period of time where it was relatively slow.”