Are you looking for real estate in the Bahamas or are you just a real estate investor and you want to promote your listings? Have you found an investment property that you want to market as a real estate investment property? Or maybe you are an owner and you want to sell off your Bahamas Real Estate real estate holdings? Whatever the case may be, you need to find out which real estate market is suitable for you. It does not matter if you just want to buy, rent or sell real estate in the Bahamas, but you have to know the basic real estate market information in order to make the right decision.
Real estate markets can be divided into two major sections – the main islands of Bahamas and the islands beyond the main islands. The main islands are comprised of the following seven islands – property of one family is often situated on either the north or south side of Bahama Island. So you may hear properties that are located on the north side or south side of the island, even if they are situated on the same side of the island. Properties that are located on the south side are usually sold by investors. If you are looking to buy or sell Bahamas real estate, the information given below will help you decide what side of the Bahama Island you should invest in:
Property on Paradise Island: One of the most popular and attractive places in Bahamas, Paradise Island is also known as the Isle of Paradise. The primary island of the Bahamas, this island features white sand beaches, breathtaking views of the water and friendly locals. A popular real estate destination, properties on Paradise are mostly rented to tourists and business travelers. Properties that are located on the southern end of the island are primarily rented by Bahamian families. Properties on the north side are more appealing than those on the south side because they offer views of the Caribbean Sea.
Harbour Island: Harbour Island is another popular real estate destination on the Bahamas. The island is home to several luxury residential communities, luxury villas and a variety of commercial and financial activities. Several luxury villas and resorts are built on the artificial Causeway Water and the Harbour Island Lighthouse.
Commercial properties: One of the advantages of purchasing a real estate in the Bahamas is the presence of a large number of businesses that have facilities on the island. These include two-star hotels, shopping malls, shopping centers, motels, bars, restaurants, banks, and insurance companies. Many of these businesses have tie-ups with other Bahamian companies and you may find that you will have to pay a higher tax rate to take advantage of them. An exception to this is stamp duty, which is applied to all properties purchased in the Bahamas and is subject to annual residence permit review. This duty does not apply to personal property. Before purchasing any Bahamas real estate, it is advised that you seek professional advice to determine which tax bracket best meets your needs.
As you can see there are many advantages of purchasing a property in the Bahamas. Many of the disadvantages stem from common misconceptions of what can be considered as Bahamas real estate and from the need to overcome some of the barriers associated with buying a residence or an apartment in the Bahamas. Regardless of whether you decide to buy a private condominium, an oceanfront villa or a residential property in the Lower Bahamas area, it is important that you take the time to conduct your research and to understand the laws and regulations associated with the purchase and sale of Bahamas real estate. Although the purchase of Bahamas real estate can offer a considerable return for you and your family, you should be aware of the limitations associated with such investments and make sure that the transaction is both a wise and a safe one.