Bahama real estate is an excellent investment opportunity in the Caribbean. The Bahamas is home to luxury properties. Since 2022, real estate ownership has soared in the country. In addition, the number of foreigners buying real estate has increased. Purchasing luxury Bahamas real estate is a great way to capitalize on the real estate boom.
Despite the recession, demand for residential property has rebounded in recent years. As a result, prices have gone up, especially for waterfront properties. The recent announcement from Carnival to build a new cruise port has increased the local market’s visibility. Former Grand Bahama PM Herbert Arthur also announced a $350 million investment in the Grand Bahama Shipyard, which will have two floating docks to accommodate the world’s largest cruise ships. Combined, this has led to a surge in property sales, with many people buying and signing long-term leases.
The Bahamas’ capital, Nassau, is home to the country’s most diverse real estate market. You can find single-family homes, condos, townhouses, vacant land, rental properties, and more. If you are interested in purchasing a Bahama property, consider contacting a local real estate professional. You’ll have the advantage of having a professional guide you through the process and help you make a smart decision.
With tax advantages and resort-style living, Bahamas real estate is a great investment opportunity. Expats and investors alike flock to the country for both second homes and vacation retreats. The country’s stable economy and favorable tax advantages make it an attractive option for buyers from the United States. Aside from the tax advantages, the country’s climate is perfect all year long.
The Bahamas also boasts a wide selection of luxury properties. Famous people like Johnny Depp and David Copperfield have bought properties in the area for up to US$50 million. Faith Hill bought a 17-acre Goat Cay island in 2006 and Tyler Perry purchased a 20-acre White Bay Cay for US$6.4 million in 2009, while Prince Aga Khan IV spent over US$100 million on the 349-acre Bell Island in 2009. Shakira bought Bonds Cay for US$16 million in 2011.
The Bahamas offers a wide range of luxury homes for sale, including luxury condos, luxurious estates, and remote luxury homes. Regardless of your budget, you can find a waterfront property that meets your needs. The Bahamas offers stunning white sand beaches and sapphire blue seas, which makes it an ideal place for a luxurious getaway.
Grand Bahama is the fourth largest island in the Bahamas and the most popular among visitors. Bahamas real estate Its commercial hub, Freeport, is located near the international airport and attracts many vacationers. Real estate here can start at US$150,000 for an ocean front unit in the Royal Ocean Club. You can also find oceanfront properties, beach condominiums, and golf properties.
The economy is doing well. Its growth rate has averaged 0.7% between 2010 and 2017 and 1% in 2018 and 2019. The average residential mortgage rate has been at 4.79% in Q1 2020, which is lower than the 8% recorded from 2007 to 2010 and 7.4% from 2014 to 2018. Moreover, the central bank has lowered the bank rate to a record low of 4%.