With economies opening up around the world, The Bahamas remains one of the best options for property buyers and investors. No-one is sure to what extent the economy will be affected or for how long as it depends on so many variables. What history teaches us, is that these events are cycles and they all eventually improve and rebound. It also teaches us that this market is the time to buy. Our job at Engel & Völkers is to provide you with all the resources, information, and data available to limit anxiety and support a clear vision to capitalize on the best real estate investment decision.
Here are our top reasons why The Bahamas Is STILL the Premier Caribbean Investment Market:
Our friends at The Bahamas Investor provided this first list of reasons
1. Close proximity to major North American and Latin American financial centres
2. Within 50 miles of the world’s largest economy
3. Same time zone as New York and Toronto (EST)
4. Peaceful and stable democracy since 1729
5. Independent nation with compliant legislation and consultative legislative approach
6. No local taxes on capital gains, inheritance, corporate and personal income, dividends and
interest
7. Proactive incentives for investment
8. Highly trained industry professionals and an English-speaking workforce
9. Essential public services and modern infrastructure
10. Ideal climate and lifestyle with many islands and cays to explore.
For more information, read Bahamas Economic Residency Program
Low Population & An Abundance of Coastline
Based on the latest estimates, The Bahamas has a population of around 392,000, which ranks 178th in the world. The capital island, New Providence, has about two-thirds of that with a density of 3,100 people per square mile, according to Wordlometers.info. To put this in perspective for all of the other islands, the big and beautiful island of Andros has only three people per square mile! The majority of the islands lean towards Andros more than they do New Providence. If this sounds ‘remote’, let’s put it into further perspective. The only places in the world with less than three people per square mile are places like Greenland, Mongolia, and Western Sahara, some of the most rugged and uninhabitable places in the world, unless you are a polar bear or deathstalker scorpion.
The great thing about the Bahamas’ low population density is the miles and miles of beautiful coastlines with powder sand beaches and dramatic honeycomb landscapes. Another positive feature of these coastlines is that none of them are too far from anything. You would be far-fetched if you had to drive more than 40-minutes from an airport to your property. The majority of the islands have paved roads and infrastructure to every settlement or nearby property in which you might be looking to invest.
Healthy Marine Environment
The Bahamas is a pioneer in marine conservation. In fact, it established one of the world’s first marine parks in the Exuma Cays Land & Sea Park, certainly one of the most beautiful archipelagos in the world. We are famous for our conch salad, fried snapper, and delicious lobster tails. Marine protection of species like the Nassau Grouper and Bahamian (Spiny) Lobster during spawning seasons helps to sustain this valuable national asset for generations to come. Help us love our country and support our parks.
The Bahamas Is Just Cool – and trends influence value
The Bahamas. Around the world, the name invokes exotic images of beautiful crystal-clear water, pink sand beaches, swaying coconut trees, and world-class resorts. Not to mention every celebrity and their uncle has a romantic getaway, birthday party, wedding, or family vacation at some secret Bahamas hideaway. Location has a lot to do with that – it’s just so easy to get here! Also, it says a lot about the quality of our real estate, architecture, and trendy designs when it attracts the rich and famous on vacation. Take a look at some of our stylish Bahamas architecture.
Overyonder Cay, Exuma Cays – Located midway down the Exuma Cays chain between Staniel Cay and Pipe Creek, Overyonder features four luxury villas and a 1.5-acre solar plant with wind turbines to power the island’s energy needs. The views, location, and water are spectacular. The sustainably designed buildings are traditional and Minoan-inspired.
Ocean Club Villas, Paradise Island – Directly on the famous Cabbage Beach, the private villas are designed for entertaining and feature expansive living and dining areas, outdoor lounges and a private infinity pool overlooking the crystal-clear turquoise ocean.
Honeycomb, Albany – The Honeycomb Building situated on The Albany marina was designed by Copenhagen and New-York-based Bjarke Ingels Group (BIG), which is known for innovative projects that defy traditional architectural conventions. Honeycomb is unique in its design and style when compared to the more traditional condo projects around the island.
Little Pipe Cay, Exuma Cays – Little Pipe Cay is at the entrance to Pipe Creek, which is one of the most naturally beautiful places in The Bahamas. The views from the island overlook the display of aqua colours, sandbanks, and shallow reefs. The property is kept immaculately and no details are spared.
World-Class Amenities
Amenities are the new luxury in real estate and hospitality. With golf, fishing, dining, boating, and, of course, the beaches, there is an activity and a style for every occasion. You can dress up and go fancy at Graycliff or Bahamian Club or dress down at a beach bar and go barefoot as a local, with the sand between your toes. You can rent a locally-made Albury Brothers skiff and hop around the Abaco cays or charter a luxury superyacht and sip Martinis off of an uninhabited island. You can play golf on one of the many award-winning courses designed by Jack Nicklaus or Ernie Els. You can catch giant wahoo off the coast of San Salvador or wade the flats of Andros for an elusive permit. You can take your pick of crescent beaches to stroll, snorkel or simply float in the sea. We are convinced that nothing else compares!
A Tourism Economy and Vacation Rentals are the rave
The Bahamas is predominantly a tourism economy, which means we have lots of visitors from all around the world. Globally, the vacation rental industry has likely surpassed hotels in the number of rooms on the market. Combine everything that we have said above with the diversity and value of real estate opportunities here, and The Bahamas checks all the boxes as a premier vacation home investment market.
Physical Distancing Is Nothing New
Physical distancing is not new to The Bahamas. We have grown and survived as a chain of islands, separated by the beautiful crystal clear aquamarine ocean, feeding and lifting each other up over generations. Mailboats still run regularly scheduled routes delivering food, building materials, cars, and any other supplies so that life is as normal as anywhere else in the world. Our communications, electrical grids, and travel have all grown out of the necessity to logistically function together while living apart. It is perhaps the foundation of why we like to get together every opportunity that we can!
