John. For ordinary (masonry) construction, expenditures might start at $400+ per square foot. House designs must be approved by a VI licensed architect or engineer. Planning and Natural Resources (DPNR) may be reached at 340-774-3320 for building specifications. The U.S. Department of State has a list of licensed architects and engineers online. St. Thomas. Construction costs on St. Thomas are typically higher than on other Virgin Islands islands. Average residential construction costs on St. Thomas are $120-$150 per square foot. Building permits can be obtained from the Division of Licensing at 340-777-0333. Virgin Islands Housing Authority buildings are average size homes that cost about $80-100 per square foot to build. Private developers build larger houses on Virgin Islands islands for prices up to $300 per square foot. There are no specific housing laws on any of the Virgin Islands except that all dwellings have to be constructed with permanent materials (wood or concrete). There are no mortgage requirements for vacation home owners on the Virgin Islands. Virtually every type of home can be built on the Virgin Islands if the builder can find a market for it. Detached single-family homes make up most of the island territory's housing stock. They range in price from $60,000 to $1 million or more.