For Bahamas property buyers, Palm Cay offers an extensive choice of quality homes in a private, oceanfront community.
The 69-acre resort community on the southeast coast of New Providence, features more than 300 townhouses/condos, marina cottages and single-family homes, many with amazing ocean views.
Palm Cay includes a magnificent marina, beach club, restaurant, two tennis courts, with lighting, a gym, plus property management and vacation rental services and 24-hour gated security. The oceanfront community also features 1,500 feet of waterfront and 1,200 feet of tranquil beaches. It is hard to believe that all of this is just 15-minutes from the capital, Nassau.
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Engel & Völkers Bahamas Advisor, Alex Jupp, says, “Palm Cay is a vibrant and dynamic oceanfront community that appeals to all types of real estate buyers and renters.
“For buyers, there are not many communities in the Bahamas that have a variety of real estate offerings in different price ranges along with the attractive amenities. Renters in Palm Cay appreciate the convenience and ease of access to these amenities, along with the comfort of living in a modern home complete with custom finishes.
“In Palm Cay, buyers are looking at around the low one-million mark for beachfront property, around the mid to high $600K range for three to four-bedroom units that are not on the water and the $400K range has done very well for two-bedroom condos.
“Four-bedroom options are most interesting for rental potential, particularly those with open floor plan style and lots of windows for natural light. For furniture, it is really a matter of client preference.”
Palm Cay’s full-service deep-water One Marina has 194 berths as well as fuel facilities, a dockside cafe, restaurant, and concierge service. Boaters have voted it the best marina in the Bahamas for five years in a row in a poll on activecaptain.com.
The Palm Cay’s Members Beach Club benefits from a recent $2 million transformation, including a stunning beach bar, an 80-foot lap pool and a private section of luxury cabanas.
“The community has 24-hour security, an award-winning marina, a popular restaurant, fully functional gym, concierge office, spa, coffee-house/deli, pool bar and most importantly the beach,” Alex explains.
Palm Cay’s vacation home rentals management service saw some short-term properties top 10% return on investment in mid-2019. Alex Jupp says, “Market research is important when looking to purchase for income return. Different units rent but their success varies. It is important to understand who does what and why. This can prepare a purchaser to be strategic and also realistic in their expectations.”
“There are busier time and seasons in the year, so renters can look at the event schedules and select peak season or quieter times, depending on their preferences.”
For more information about Palm Cay and other property hotspots in the Bahamas, see Engel & Völkers Bahamas’ new 2019 Bahamas Real Estate Market Report.
