The Bahamas are a gorgeous archipelago of islands in the Caribbean. There is an investor-friendly tax regime and world-class golf courses, shopping, spas, and luxury homes. But before you buy a home in the Bahamas, make sure that you have the right information. Read on to learn more about Bahamas real estate.
The Bahamas are popular for real estate investment and second home ownership. There are plenty of options, from condominiums to single-family homes, as well as vacant land and rental properties. Many foreign investors are drawn to the Bahamas because of the country’s stable economy and tax incentives. The Bahamas also has a large expat community.
While the economy in The Bahamas has been sluggish for years, the country has recently seen a rebound in its real estate market. Several major investments have pushed prices in the last quarter into the double digits, attracting both local and foreign buyers. Meanwhile, a shortage of inventory has also kept prices in The Bahamas in check.
One of the most exciting developments in the Bahamas is the construction of the $3.5 billion Baha Mar Resort and Casino. This is the largest real estate development in the Bahamas to date and is expected to boost real estate prices. The area around Baha Mar is primarily upper-middle-income, which is good news for buyers. Bahamas real estate Coldwell Banker Lightbourn Realty is an established real estate firm with local agents in the Bahamas.
The Bahamas real estate market has recovered from the global financial crisis. While some areas of The Bahamas experienced a decline of up to 20%, the economy is slowly stabilizing. The government has increased the threshold for permanent residency to US$750,000, attracting many foreign buyers. Permanent residents enjoy the same privileges, but they do not have the right to vote. Despite these positive developments, the unemployment rate is predicted to hit 15.2% this year.
The Grand Bahama real estate market includes oceanfront estates, beach cottages, golf course properties, and luxury residences. Moreover, it has a booming tourism industry with nearly a million tourists visiting each year. With a number of daily flights from major air carriers, Grand Bahama is easy to access.
Waterfront properties are a great way to enjoy the outdoors without crowds. These luxurious properties offer breathtaking views of the Caribbean sea. Moreover, these homes are available in all price ranges and shapes. In addition, you can choose from waterfront homes in all the islands. The rental yields on these properties are moderate to good.