Timing is Right for Investing in Bahamian Real Estate
Caves Heights, a luxury gated condo development in Nassau, The Bahamas
It’s no wonder that investors are flocking to The Bahamas, a beautiful island nation, conveniently located just 30 minutes from Florida’s eastern coastline. With the opening of the much-anticipated Baha Mar resort with the largest casino in the Caribbean, the positive economic impact has been notable, especially among the real estate market, where rentals of properties in Nassau are exceeding demand, giving property investors a solid reason to buy.
“I have rental inquiries every day that I have to turn down for lack of inventory. The opening of Baha Mar has been tremendous for business,” says Gustaf Hernqvist, vice president of sales and marketing at Caves Heights. Hernqvist continues to say that typical renters are either bankers or corporate executives desiring long term leases, which gives peace of mind to investors knowing they aren’t dealing with the headache of the holiday market.
Caves Heights is one of the premier luxury gated condo developments in Nassau, The Bahamas for second-home buyers and investors. Amenities include a heated lap pool, a family pool, fully-equipped fitness center and aerobic room, lit hard-surfaced tennis court with side pavilions, gazebos, picnic areas, 24-hour security, air-conditioned storage, and ample parking. The adjacent Caves Village, accessible by golf carts provided to residents, offers lit paved walkways and lush landscapes enveloping a variety of shops, four restaurants including Italian and Asian as well as a healthy option in the large gym and a juice and smoothie bar, hair and nail salon and massage spa, fine wine and spirits store, pharmacy, two bank ATM’s, vet, medical facilities for children and adults including a state of the art MRI and PET scan as well as neurology clinic, Starbucks coffee, a crèche and playground, and other conveniences.
Units in the luxury development are renting for $5,000 to $7,000 per month, ensuring homeowners a solid income return of 5% to 6% per year before capital appreciation. Units include two-, three- and four-bedroom condos ranging from 1,855 to 4,594 square feet.
Permanent residency is given to those acquiring homes in excess of $500,000 and there are no taxes on income, capital gains, inheritance, corporate or dividends.