Buying a vacation home is a big decision and often times making big decisions, like this one, requires sitting down, doing the research, and deciding what the benefits of owning a vacation rental are.
It’s easy to understand what the appeal of living and working in The Bahamas is. Especially for Canadian and UK residents. The wonderful sunny weather, pristine sandy beaches and crystal clear waters are a huge draw to thousands of tourists, visitors and interested buyers every year.
Why wouldn’t you want to take advantage of life in a secluded, sun-soaked piece of paradise that you can call your second home?
Why Wealthy Buyers Flock To The Bahamas
There are several popular places for investment in The Bahamas and more specifically, its main island of New Providence. The capital city of Nassau with its vibrant culture, historical landmarks and exuberant nature is the number one property hotspot for vacation homes. The most popular neighbourhoods remain Lyford Cay, Old Fort Bay, Ocean Club Estates and the Eastern Road.
For people who value their privacy, the luxury communities found on Paradise Island are really taking flight. Many luxury residences on this island can be found in the Reef, Thirty Six & One Ocean. These are especially popular and convenient properties in high demand from wealthy buyers.
There is another upside to owning a vacation home in one of The Bahamas’ pristine islands. As the travel industry is facing a surge of vacation cancellations due to COVID-19, many travelers are opting to stay in vacation rentals over hotels due to their ability to easily social distance. This could mean a second property in The Bahamas can produce some amazing returns on your investment during the months when you’re not using it.
When we look at the historic value of beach houses in The Bahamas, we can see that their value has increased over time.
Both the current trends in the tourism industry and the historic performance of the Bahamian property market show that there has never been a better time to buy! Thanks to its favourable property ownership laws for foreigners, The Bahamas is one of the most stable real estate markets in the Caribbean. It’s been ranked #1 by Global Property Guides (GPG) long-term real estate investment ranking and #1 Investment Hubs by Forbes.
Working with a reputable real estate broker is crucial to locating the ideal Bahamian vacation home. If you still have questions, schedule a consultation with us. Our team of experts can share more with you about becoming a vacation home / rental property owner based on our years of experience managing luxury beach houses and condominiums in the Caribbean.
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