Buying and Selling Bahamas Property
For real estate information and assistance in buying and selling Bahamas Property, contact a real estate agent. You can find one in the Harbour Island area on Dunmore & Crown Sts. Coldwell Banker Lightbourn Realty also has an office in Harbour Island. These agents are highly knowledgeable about the real estate market.
Before the outbreak of coronavirus, demand for residential property in The Bahamas was already declining. According to Engel & Volkers’ Real Estate Market Report for 2019, residential sales in The Bahamas fell by around 20%. The government then closed the country’s borders to international tourists in March 2020 to prevent the spread of the coronavirus. This resulted in a drop in air and sea travel by 28%. Tourism figures are expected to fall even further in Q2 2020.
There are several types of properties for sale in The Bahamas. There are several luxury homes that are well-designed in Bahamian style. harbour island bahamas real estate Many luxury homes come with shared maintenance staff and full-time estate managers. Luxury properties start at $1.2 million. Some are available as vacation rental properties. Some are leased and others are sold in a contract form.
Purchasing real estate in The Bahamas is not a complicated process. The real estate market in the Bahamas has been developed and has a low tax structure. As a result, the process is transparent and secure. A buyer’s attorney will check the property title to ensure that it is clear and legal. If there is any missing abstracts, the property’s marketability may be reduced significantly. A vendor should also ensure that the history of the property is accurate.
In addition to a beautiful view and natural wonders, the Bahamas has many other benefits, including a relaxed lifestyle and friendly locals. Additionally, the economy is stable and growing, with tourism and other economic sectors being the main sources of income. In addition, the Bahamas also offers several residency options. Therefore, if you want a place to call your own, a Bahamas property is an excellent choice.
The Bahamas Property Fund is a real estate investment trust that owns three commercial properties in The Bahamas. They include the Bahamas Financial Centre, One Marina Drive, and Providence House. The Fund’s portfolio contains a variety of tenants from various industries. Shares of the Fund are traded on the Bahamas International Securities Exchange under the symbol “BPF”. Royal Fidelity Bank & Trust is the investment manager for the fund. The Fund has more than $700 million in assets under administration.
Non-Bahamians who purchase real estate in The Bahamas can apply for a Home Owner’s Residence Card to gain access to their property. This card can be renewed every year and allows the owner, their spouse, and their minor children to live in The Bahamas. This is the easiest way to move to The Bahamas and make your home there.