Bahamas Real Estate continues to grow and flourish with a rapidly growing population. Nearly $400 million of real estate was sold during the first quarter alone of 2021. Contracts almost doubled as compared to the same period last year. This sudden surge partly has to do with the fact that there is so much high demand for real estate already in place prior to the recent epidemic.
The second quarter saw almost an eight percent increase over the same period last year. The growth in Bahamas real estate is mostly from foreigners who are purchasing properties as investment purposes, as the tourism industry is beginning to pick up and foreign investors are showing more interest in acquiring properties. Several well-known and respected real estate agents are now opening offices in the Bahamas in order to accommodate this growing market. These well-known real estate agents are: Argyll and Bullard, Brown Brothers Harness, CMS, Kingsley Whiston Associates, Miller Chemical, Nabob, Raytheon and W.R. Case.
Another reason for the increase in Bahamas real estate purchases is because of the favorable exchange rates. Because most goods and services imported into the Bahamas cost much more bhhs bahamas real estate than the cost of things that are domestically produced, foreign investors can take advantage of this by buying goods at a lower price and then selling them for higher profits once they have made their purchase. There are several potential investment opportunities that real estate buyers can capitalize on in the Bahamas. These include buying a house in the Bahamas for personal use or as an investment.
In terms of the actual geography of the Bahamas, the only part of the world where all three of the islands actually meet is the south end of island Baelohea. This is where the Bahamian islands of Grand Bahama, Paradise, and Little Cayman are located. The southern most tip of the Bahamas is home to Paradise Island which is the largest of the three. Because the southern most part of the Bahama Islands is not visited by a great deal of tourists, Bahamas real estate can be purchased relatively inexpensively by both individuals and corporations who seek a place to call home.
One of the major benefits of purchasing a Bahamas real estate investment is the fact that there are no taxes or property management fees required for foreigners wishing to buy homes in the Bahamas. This makes it an attractive locale for foreign buyers and investors. Since the purchase of a house in the Bahamas requires a large down payment, most investors prefer to purchase houses in the south end of Bahama Island and then lease them out in order to save on property management fees.
Real estate transactions in the Bahamas can also include the purchase of condominiums or townhouses. When dealing with condominiums or townhouses in the state of Bahamas real estate transactions costs are based on a variety of factors such as location, amenities, design style, and construction type. These factors are subject to change without notice so buyers who plan to live in the area for a long period of time should become knowledgeable about the current real estate market for their particular area before they start looking for a house to purchase. Many real estate agents will assist potential buyers in making an informed decision on their specific property requirements.