In August of 2017 Forbes magazine ranked The Bahamas one of Nine International Areas Real Estate Investors Should Give a Look. Two months later Engel & Völkers opened its first shop in The Bahamas and has been riding a strong real estate market for the past 6 months. Headquartered in downtown Nassau, Engel & Völkers Bahamas is the 2nd Caribbean location along with the Cayman Islands.
License Partner, Colin Lightbourn, who has been heavily involved in Bahamas real estate for more than 20 years says, “The Bahamas has always been an attractive place to buy real estate for a number of reasons. First, our location and weather are perfect, we are recognized globally as having the most beautiful oceans and beaches and the capital Nassau is only 180 miles off the coast of the largest economy in the world. It is easy to come and go, we have no income or capital gains taxes. We have great marinas, real estate communities, FBO’s that cater to private jets and world-class developments.”
He adds, “The government of The Bahamas has recently rolled out its Commercial Enterprises Bill which is aimed at facilitating international businesses and the ease at which companies can do business in The Bahamas. The mega resort BahaMar has just opened in Nassau and plans are in place to increase airlift from a number of new destinations.”
Engel & Völkers Bahamas has hit the ground running having doubled its real estate team in just over 6 months and according to Lightbourn “Partner shops along the east coast US, Canada and Europe are referring significant clients to us both on the selling and buying side of the transaction. The great thing about the network is that we have also been successful in sending referrals to other international locations.” Engel & Volkers Bahamas is still in the process of aggressively building its team as it rolls out a very extensive and targeted marketing plan to its prospective customers and primary feeder markets.
EVB is focusing its efforts on communities that have both historically held value and offer added benefits to owners such as steady income production or owner and management services. “We are focusing on select markets which offer quality amenities, easy access, good infrastructure, premium construction and of course peace of mind for property owners.” Some of these select markets include exclusive communities on Nassau & Paradise Island including Ocean Club Estates, Old Fort Bay, Lyford Cay, and Albany. Other islands which are not as populated but offer a unique and cultured lifestyle are Elbow Cay, Guana Cay, and Green Turtle Cay in The Abacos and Harbour Island and Governors Harbour in Eleuthera. Exuma is a chain of 365 islands with Great Exuma at the southern end. Many of these islands are privately owned by the who’s who of the business and celebrity world and have sold for as much as $100 million.
