Here’s Why The Bahamas Are An In-Demand Choice For Luxury U.S. Buyers

From Nassau to Abaco Island, The Bahamas has numerous choices for resort-style dwelling, making it a well-liked alternative for actual property buyers and people in search of second-home possession. Buyers from the United States are significantly appreciative of the nation’s steady financial system and its enticing tax benefits.

Getting to Nassau, the capital of The Bahamas, is handy due to a dozen day by day flights (at the moment scheduled) from Miami that take about an hour. American, Delta, and Jet Blue fly from JFK to Nassau in about 3.5 hours. For personal flyers, choices embody Odyssey Aviation Nassau, a 24-hour full-service FBO with on-site customs and immigration companies. Easy to entry second and third houses in distant places have change into extra interesting to in the present day’s luxurious consumers.

I just lately checked in with Ryan Knowles, founder and CEO of luxurious brokerage MAISON Bahamas, to get the most recent market information. Knowles is among the main realtors within the Bahamas.

Describe your present market dynamics?

The actual property market in The Bahamas will be described in a single phrase: “hot.” We had the busiest yr on file in 2021, with throngs of worldwide consumers hitting our shores looking for their piece of paradise. Demand continues to outstrip provide and we anticipate this pattern to proceed all year long.

What adjustments have you ever seen to this point in 2022?

Due to the sheer variety of trades that occurred final yr, there’s merely much less obtainable stock out there for consumers to buy. So, whereas demand stays extremely excessive, deal quantity has slowed a bit because of shortage of product.

What potential adjustments do you forecast for the primary half of 2022?

We anticipate two main changes, the primary being that extra consumers will go for pre-construction or pre-completion choices because of an absence of obtainable stock, and the second is that increasingly sellers will come to the market, sensing a chance to benefit from very favorable market situations.

Do you see extra sellers coming to market in your space. If so, how will that impression market situations?

We’ve had an unprecedented surge of curiosity in latest months, and we don’t see that slowing down anytime quickly. While we anticipate extra sellers to enter the market, we consider that they are going to proceed to be outnumbered by the variety of consumers who need to get in. Everyone needs a bit of paradise and plenty of of them are keen to pay full ask or extra to get it!

MAISON Bahamas is an unique member of Forbes Global Properties, a client market and membership community of elite brokerages promoting the world’s most luxurious houses.

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