The Bahamas real estate market has experienced a boom in recent years. It’s an investor-friendly country with world-class golf, shopping and spas. There’s also a lack of inventory, which makes prices competitive. In addition to prime beachfront property, the Bahamas boasts some of the most luxurious properties in the Caribbean.
The majority of foreign homebuyers are from the United States, Canada, France, Britain, and Italy. Property prices are moderate to high and rental yields are good. However, it is important to note that if you plan on building on an undeveloped piece of land, you will need a permit from the Government.
The capital city of the Bahamas, Nassau, is home to the largest and most diverse collection of Bahama real estate. There are single family homes, condominiums, town houses, vacant land, rental properties, and more. Bahamas real estate Whether you’re looking for a vacation home or a long-term residence, you can find the ideal property in the Bahamas.
Aside from its beautiful beaches and sapphire blue waters, the Bahamas offers tax-free living and a relaxed lifestyle. With a stable economy and a growing tourism industry, the Bahamas is a great destination for both expats and real estate investors. The country has become a favorite vacation spot for Americans, as the economy has remained stable and the tax benefits are attractive.
Beware of scams, however. There have been many cases of scams involving U.S. citizens who tried to purchase property in the Bahamas. Some people lost their entire life savings after discovering that the seller did not have clear ownership of the property. Other incidents involved high-end real estate development projects that were never completed.
If you want a reputable real estate agent, check out the Bahamas Multiple Listing Service (BMLS) and the Bahamas Real Estate Association. These organizations have been the trusted source of real estate information for over 50 years. Members of these organizations have passed rigorous exams, meet due diligence standards, and follow strict codes of conduct. In addition, many of them have advanced certifications in the luxury market, which is awarded to less than five percent of real estate agents worldwide.
The Bahamas real estate market has undergone a period of stabilization after the financial crisis hit the country. In fact, property prices in the Bahamas fell by almost 20% from their peak in 2007. However, the market has begun to recover since the devastating hurricane Dorian in 2011. As of today, prices have stabilized and home buyers can find their dream homes.