Next Neighbourhoods 2021: Martha’s Vineyard, Massachusetts, United States
Picturesque, peaceful, lush and strategically undeveloped, Martha’s Vineyard is seven miles off the coast of Cape Cod, 69 miles from Boston and a 30-minute flight from New York City. For the 17,000 or so permanent residents, the island is a place to live and work, as well as to enjoy its many beautiful beaches, lagoons, country roads and forests, while for the thousands of visitors that descend each summer, it’s an escape, a place to relax with family and friends away from the hustle and bustle of home.
09 April 2021
Why is it primed for growth?
The Covid-19 pandemic triggered a desire to swap crowded cities and suburbs for empty island beaches, trails and roads. That, combined with the need to work from home, has inspired many to look to replace their urban apartments and condos with country or beach houses. When the pandemic hit, many who had a second home on Martha’s Vineyard moved to it, and those that didn’t tried to buy or rent. This is reflected in the statistics: single-family home sales increased 74% in the year to Q3 2020.
My favourite bits:
My ideal day on Martha’s Vineyard goes something like this. Wake up at sunrise, walk the dogs on the beach, play tennis or go out boating or paddleboarding, then get a late breakfast or lunch, followed by an afternoon at the beach before picking up supplies for dinner. Try Allen Farm for the best organic lamb, North Tabor Farm for vegetables and Tea Lane Farm for flowers for the table. The next stop is Menemsha – an old fishing village – to pick up fresh local seafood. I go home, light the grill, pour a few drinks and let the party commence.
What will my money buy me?
Single-family houses range from non-winterised cottages for US$400,000–US$600,000 to massive waterfront compounds and estates for as much as US$19.5 million. It pays to move quickly, as inventory is low and values are increasing. My friend’s grandfather bought 100 acres in Chilmark in the 1960s for US$100 an acre: these days that acre would set you back between US$170,000 and US$580,000. But buying Martha’s Vineyard real estate isn’t just a financial investment, it’s an investment in quality of life.
One thing the locals like to keep secret:
Privacy and respect are everything on Martha’s Vineyard, and that is why you don't tend to see a lot of pictures of rich and famous people gallivanting all over the island. No matter who you are, you can enjoy yourself with your family and friends in peace, and not have to worry about what’s going on in the rest of the world. It really is the best place to unplug and relax. Just ask the Obamas, the Rothschilds, the Kennedys, Oprah Winfrey, Larry David…the list goes on. These people could spend their summers anywhere in the world, but they choose Martha’s Vineyard. That says a lot.
Credited to: Jesse Greenstein
