In August of 2017 Forbes magazine ranked The Bahamas one of Nine International Areas Real Estate Investors Should Give a Look. Two months later Engel & Völkers opened its first shop in The Bahamas and has been riding a strong real estate market for the past 6 months. Headquartered in downtown Nassau, Engel & Völkers Bahamas is the 2nd Caribbean location along with the Cayman Islands.
License Partner, Colin Lightbourn, who has been heavily involved in Bahamas real estate for more than 20 years says, “The Bahamas has always been an attractive place to buy real estate for a number of reasons. First, our location and weather are perfect, we are recognized globally as having the most beautiful oceans and beaches and the capital Nassau is only 180 miles off the coast of the largest economy in the world. It is easy to come and go, we have no income or capital gains taxes. We have great marinas, real estate communities, FBO’s that cater to private jets and world class developments.”
He ads, “The government of The Bahamas has recently rolled out it’s Commercial Enterprises Bill which is aimed at facilitating international businesses and the ease at which companies can do business in The Bahamas. The mega resort Bahamar has just opened in Nassau and plans are in place to increase airlift from a number of new destinations.”
Engel & Völkers Bahamas has hit the ground running having doubled its real estate team in just over 6 months and according to Lightbourn “Partner shops along the east coast US, Canada and Europe are referring significant clients to us both on the selling and buying side of the transaction. The great thing about the network is that we have also been successful sending referrals to other international locations.” Engel & Volkers Bahamas is still in the process of aggressively building its team as it rolls out a very extensive and targeted marketing plan to its prospective customers and primary feeder markets.
EVB is focusing its efforts on communities that have both historically held value and offer added benefits to owners such as steady income production or owner and management services. “We are focusing on select markets which offer quality amenities, easy access, good infrastructure, premium construction and of course peace of mind for property owners.” Some of these select markets include exclusive communities on Nassau & Paradise Island including Ocean Club Estates, Old Fort Bay, Lyford Cay and Albany. Other islands which are not as populated but offer a unique and cultured lifestyle are Elbow Cay, Guana Cay and Green Turtle Cay in The Abacos and Harbour Island and Governors Harbour in Eleuthera. Exuma is a chain of of 365 islands with Great Exuma at the southern end. Many of these islands are privately owned by the who’s who of the business and celebrity world and have sold for as much as $100million.
Engel & Volkers Bahamas Advisors discuss their favorite Bahamas real estate:
“Providence House located in the Ocean Club Estates on Paradise Island. The home is meticulously kept and masterfully built. The rooms are open and modern with a lot of light and the entire basement know as ‘The 19th Hole’ is a great entertainment space with home theatre, snooker table, wet bar and walks right out to the pool and patio. Incredibly convenient after a round of golf.
The greatest feature about Ocean Club Estates is the amount of amenity privileges owners have access to. First there is an owners only beach club with infinity pool. The restaurant serves lunch and is perched above Cabbage Beach. There are tennis courts and a kids playground area. Second, is the 18-hole Tom Weiskopf golf course which meanders through the community. Many say it’s the most beautiful course in The Bahamas because of the number of oceanfront greens and fairways. It was a big sacrifice by the developer to give up this much real estate so golfers could experience the privilege of oceanfront golfing on a world class course. Finally there are the many amenities at the Ocean Club and Atlantis Hotel. These hotel properties offer the widest selection of quality pools, restaurants and waterparks anywhere in The Bahamas. It is the lifestyle amenities and benefits that makes the Ocean Club Estates so unique.”
“The community of Sandyport is the most popular location for purchase in the immediate Cable Beach area. Not only for the fact that it is a gated community with 24 hour security and various amenities within close proximity, but also for the fact of the consistency in the value of property and homes. Residential gated communities have been the preferred choice for investors and homeowners. In the general Western area, over 80% of homes priced over $1 million dollars have been purchased in a gated community such as Sandyport, according to the MLS. This activity speaks for itself.”
“Having spent a lot of time in the creek at a neighboring house I can attest as to what a hidden gem this community is. You’re away from any noise of the city, you’re surrounded by water on both sides and the breeze is continuous. You come home every evening after work and it feels like you’re escaping to the Family Islands. Creek House has also been completely renovated to take full advantage of these qualities.”
For more information contact:
Engel & Volkers Bahamas
Phone: +1 242 328 7777