REAL ESTATE IN BAHAMAS ISLANDS

nvestors: Real Estate in The Bahamas Islands Is Hot and Is Going to Get Hotter
by Rachel Pinder
Send Feedback to Rachel Pinder
More Details about Bahamas Real Estate here.

July 16, 2007, Nassau, The Bahamas -- Much of the attention has been directed at the cluster of Out Islands and their tiny islets (or cays), which dot the blue-green waters of the Atlantic.

The naturally derived privacy found on the islands has made these the latest high-priced accessory for Hollywood celebrities. Johnny Depp, Nicholas Cage, Michael Jordan and Tiger Woods all have bought into the boom.

But buyers aren't limited to the glitterati, according to broker/appraiser Rachel Pinder of Island Living Real Estate, an all-broker-level firm specializing in Out Island properties on such islands as Abaco, Eleuthera, Exuma, and Long Island. Pinder sited several types of buyers contributing to the land rush. They include:

* Older investors planning their retirement; * young investors setting up bed-and-breakfasts or other enterprises; * natives returning to their childhood homes; and * enamored vacationers getting a jump on the major-development openings.

"Our buyers aren't just coming from the United States," said Pinder. "We're getting many calls from Europe and Asia. The desire to buy into a piece of paradise is the primary motivator, of course. We have many affordable properties, some of which are ripe for development. Affordability is just one side of the economic coin. Bahamian liberal real estate and immigration laws draw many buyers.

The government levies no taxes on personal income, sales, inheritance, capital gains, dividends or even corporate earnings; exemptions available to all individuals, trusts, partnerships and corporations.

Property tax rates are friendly, as well. The first $250,000 of an owner-occupied property is entirely tax exempt. Up to $500,000 the rate is just 0.75 percent, with a 1 percent rate for all properties above $500,000.

While no government approval is required for foreign investors to purchase up to five acres of residential property; larger land acquisitions must be registered and approved by the Investment Board. The 1:1 currency exchange between the U.S. and the Bahamian dollars is hard to resist, particularly at a time when the American dollar is sinking in many other parts of the world.

Flexible immigration laws provide accelerated consideration for annual or permanent residence to everyone from major investors to owners of residences valued in excess of $500,000.

Rates for unimproved properly are equally favorable.

‘Vacant land accounts for a large portion of our sales," said Pinder. "Still, we're getting calls from across the board, including Bahamas condos and houses; even condo and house rentals.

Nassau-based Island Living Real Estate is a full-service company with over 25-years of experience in real estate sales and development throughout the Bahamas. Island Living services all the Islands of the Bahamas including Nassau, Abaco, Exuma, Long Island, Rum Cay, Eleuthera, Cat Island and Bimini.

© 2007 Sinai Marketing, Inc. and Island Living. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this article is strictly prohibited, with the exception of herein imbedded links.