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Daydreams into reality
Great buys in real estate
Once you experience The Bahamas, don’t be surprised if you’re tempted to own a piece of it. Many have felt the same way, and many have found a place here to call home.
Living here either full- or part-time makes sense when you examine the advantages. Handling the red tape of buying a home is a breeze when you enlist the help of a Bahamas Real Estate Association (BREA) agent. Property taxes are low, and the Bahamian government does everything it can to make you feel welcome.
Buying property in The Bahamas is safe, thanks to the International Persons Landholding Act of 1993 and a long-established nucleus of real estate agencies. When you engage a BREA agent, your search for a Bahamian home becomes an enjoyable exercise. They know the territory, and they’ll help you find the best buys.
Best time to buy
While real estate has suffered a hard blow elsewhere, the market remains strong in The Bahamas, despite some recent readjustments. As BREA president William Wong puts it, the Bahamian market is picking up and “it is a very good time to buy.”
At Caves Heights, a new luxury highrise condominium development in western New Providence, Chris Herrod agrees that business is improving.
“After a difficult 2008/9 we are experiencing an increase in sales. The recovery in the real estate market is steady. I look forward to this upward trend to continue, or hopefully to increase, for both volume of sales activity and pricing.”
Jason McCarroll of Seaview Properties agrees the upturn is “coming along nicely.” He says he’s “never been more busy in my life. Canadians are coming here in droves. I’m working seven days a week.”
He notes that The Bahamas is especially attractive to foreign investors now. “Because of increased First World debt, we’re well positioned for wealthy individuals looking for a place to enjoy an environment free of capital gains and related taxes.”
Sound and stable
Among its advantages, The Bahamas offers a stable government and a sound economy. The Bahamas is a long-established constitutional democracy based on the British parliamentary system. In fact, the two-house legislative branch dates back to 1729.
The Bahamas became completely self-governing in 1964 and achieved full independence from Britain in 1973.
The economy is based on tourism, which generates about half of the gross domestic product, and on banking and financial services, which accounts for another 20 per cent. Many of the world’s largest international banks and trust companies are located here, engaged principally in managing assets for wealthy individuals.
For newcomers, it’s a plus that the government levies no taxes on income, profits, interest or the proceeds from trusts and inheritances.
Education is not a concern in The Bahamas either. Several excellent private schools are located in New Providence and Freeport, some of them internationally accredited.
You may think that acquiring a home and living in the sunny Bahamas is just wishful thinking. But the more you look at all the possibilities, the more attractive it gets.
Sidebar:
For more information contact:
Caves Heights Development
Caves Village, West Bay St
Tel: (242) 327-8867
Fax: (242) 327-8868
e-mail: info@cavesheights.com
website: www.cavesheights.com
Seaview Properties Limited
Caves Village, West Bay St
Tel: (242) 327-1566 or 477-7027
Fax: (242) 327-1569
e-mail: info@seaviewproperties.bs
website: www.seaviewproperties.bs
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Invest_RE_WTDNJul10
Daydreams into reality
Great buys in real estate
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