By: Staff Writer
June 22, 2021
Property sales using cryptocurrency could hit “stratospheric” levels, if one St Vincent investor’s project takes off the way it is envisioned.
Storm Gonsalves, managing director of Storm Gonsalves Estates and the developer behind the luxury One Bequia cryptocurrency haven, said in a recent interview that as a result of cryptocurrencies circulting in the economy to the tune of billions of dollars, he thinks that providing a vehicle to purchase luxury real estate could reach “stratospheric” levels.
Mr Gonsalves added: “The adoption of cryptocurrency is far from a gimmick. It’s a response to the very real challenges faced by island communities increasingly cut-off from mainstream banking facilities.
“Residents of small island nations are finding it increasingly difficult to send and receive money internationally because of ‘derisking’ by large international banks,” St. Vincent-born Gonsalves added.
Mr Gonsalves is the brother of the minister of finance of St Vincent Camillo Gonsalves and the son of the sitting prime minister, Dr Ralph Gonsalves.
Speaking about how derisking is putting small Caribbean states in a difficult situation where they must find access to finance outside of the commercial banking, Mr Gonsalves continued: “Derisking is when these large institutions remove their intermediary banking services from smaller island-based community banks.
“This prevents the island-based banks from transacting internationally. If this trend continues it means small island nations will be essentially cut off from international trade and commerce. For tourism-based economies, this will be devastating”.
“This has pushed many Caribbean island nations to adopt blockchain and other cryptocurrencies a lot faster than other more developed nations. Bermuda, Bahamas, Barbados and now St. Vincent are leading the way in this regard,” added Gonsalves.
One Bequia is currently offering 2-5 bedroom villas for sale off plan. These villas will come fully furnished and fully automated so homeowners can control their residence from anywhere in the world.
Life at One Bequia will be centred around The Cliff Clubhouse where there will be amenities such as the Bazodee Restaurant, Cafe Soleil Bar and Grill, Cliff Cinema, Cliff Gym & Spa, Chelsie Art Gallery, Smiles Premium Grocer and much more. It’s also worth giving a special mention to the Epic Cliff Games Room that will be equipped with pinball machines, pool/air hockey tables and a full duckpin bowling alley for residents of all ages to enjoy. Access to the clubhouse will be limited to residents and guests.
If you are a golf fanatic, One Bequia is only a 2 minute drive away from the Spring 9 Hole Golf Course. Alternatively, there is a 18 hole golf course designed by Jim Fazio on the island of Canouan. Our concierge team would be more than willing to arrange a day trip to this course which is roughly 5 minutes distance by air and 1 hour by fast ferry. Please see attached access to Bequia infographic.
Other activities at One Bequia will include kite surfing with Jeremie Tronet, scuba diving, snorkelling, horseback riding, organic farming and cooking classes, trail hiking, movies at the Cliff Cinema and much more. Please visit our FAQ page for more information.
Prospective buyers can take a look at the site plan and the accompanying lot sizes that they can choose from in the One Bequia Welcome Package. To reserve a lot, prospective buyers can place a fully refundable deposit of US $10,000 (or Bitcoin/Ethereum/BitcoinCash/Dogecoin equivalent) and the lot will be held for 90 days.
Mr Gonsalves said further about the project, “This is truly a community of forward thinking people. I think that people want to buy in and live in a community like that, which really isn’t much different than any other luxury development in that, we have designed it specifically for forward thinking people.”