The Bahamas real estate market continues to be very strong as there are many people interested in owning a piece of this Caribbean paradise. Real estate values are still very high and many foreigners are now investing in the islands. Bahamas real estate agents have seen a significant rise in purchases of real estate ranging from one million dollars to more than three million dollars. Many foreign nationals have purchased property for investment purposes as they are aware of the benefits offered by Bahamas real estate agents and the country’s legal framework. The government is taking initiatives to attract foreigners to invest in residential properties as well commercial properties.
In the last few years, many investors looking for a second home in the Bahamas have bought into residential properties and exclusive enclaves in the Grand Bahamas Island. The government has approved several development projects for foreigners who are interested in buying or selling real estate in the Bahamas. One of these projects is the Grand Residency visa International Buyer Program which has helped thousands of buyers get permanent residence in the country bhhs bahamas real estate. The program was initially initiated to help expatriates buy real estate in the Bahamas and make money by doing so. The buyers who acquired properties under this scheme had to meet certain criteria and prove that they are not eligible for immigration into the Bahamas.
Recently, the government expanded the criteria of the buyers who will be eligible for the scheme and relaxed the requirements of the initial applicants. The Bahamas real estate developers have also taken initiatives to develop and expand their already established tourism sector by welcoming tourists from all over the world. Several vacation rentals have been designed by international architects and contractors to cater to the demands of investors from across the globe.
The Bahamas real estate developers are focusing on developing more holiday rentals in order to meet the growing demand for such properties. There is a great deal of potential for development in the Bahamas especially in the islands surrounding the capital city of Nassau. Some of the most popular destinations for tourists in the Bahamas include the West End, Paradise Island and Eleuthera. All these islands offer spectacular beaches, upscale resorts and fabulous villas suitable for family vacations and honeymoons.
The Bahamas real estate investors can choose from a wide variety of exclusive residential properties on exclusive islands. They include waterfront mansions and waterfront condominiums in the towns of North Brac, Paradise Island, Eleuthera and Port Charlotte. These properties are professionally managed by experienced property management companies. Buyers will get amazing perks such as full service in the Bahamas, no income limits, free insurance, tax benefits, and free agent referral. Several Bahamas real estate investors have purchased exclusive vacation rentals in the Bahamas and are earning great profits each year.
The Bahamas real estate transactions during the coming year are expected to experience tremendous growth due to several major projects being implemented by the government. One of these projects is the construction of a world-class marine park in Nassau that will enhance tourism in the Bahamas. Other projects that are expected to take place during the coming year include the renovation of the Port Charlotte International Airport, a mega shopping mall in Downtown Bahamas, and the building of helipads in several cities. With the growing economy and the favorable conditions for overseas buyers, the prospects for investing in Bahamas real estate transactions are looking bright for all realty investors.