An article published by the Financial Times in August of this year is titled, “Pandemic fuels broadest global house price boom in two decades.” CBRE, a global leader in commercial real estate and investment reported, “The overall outlook for global real estate is positive as we move into the second half of 2021. COVID-19 remains a risk, especially from virus variants, but the vaccine program in the developed world has turned the tide. The big economies are re-opening and a fast-paced recovery is well underway.” There is no question that real estate sales around the world are still at record levels and here in The Bahamas, it’s no different. The Bahamas is experiencing the best real estate market ever. Yes – ever!
The surge in global real estate sales is fueled by a number of factors including low interest rates, extra savings and what many have termed as ‘pent up demand,’ which is the result of a void in the marketplace created by global lockdowns and travel restrictions. Another factor contributing to the buying surge is the increased focus on personal and family health and wellness. Priorities have shifted toward greater demand for a clean environment and the outdoors, to overall community health and social justice. A healthy body and mind are central to this new lifestyle outlook and covers everything from where we live, how we spend our time, where and how we travel, what we eat and the quality of the experiences we invest in.
The Bahamas real estate market has thrived, not just for beautiful homes on the beach and Bahama Mama’s, but equally for the ways that mind, body and spirit can connect and rejuvenate in an environment that is unique to this planet. This is The Bahamas’ ‘X’ factor and here we show you the inner workings and how connected it is to the health of the human body.
Integumentary System (The Skin)
This system equals approximately 15-20% of our total body mass, making it the largest organ of the body. It acts as a protective barrier to our inner organs while maintaining body temperature. Like the skin, the aquamarine, gin-clear waters of The Bahamas protect and surround our islands, consuming carbon dioxide and sustaining an abundant marine life. Conch, lobster and grouper and some of the staples for island people and visitors travel from around the world to swim in the waters and awe at its beauty. Even from space, astronaut Scott Kelly marveled in a twitter post, “Had first video conference with my youngest daughter today. Showed her the most beautiful place from space. #Bahamas.”
A year later, he posted, “The #Bahamas never fails to impress! #YearInSpace.” Astronaut Chris Hadfield marveled, “The beauty of the Bahamas is surreal; every blue that exists.” While we can’t all make the flight to space and see for ourselves, we do implore you to visit and jump in. It is much more beautiful and healthier from right here on Earth.
Skeletal System (Bones, Joints)
Our bones are important parts of the skeletal system that holds us together and protects our inner organs. Like the skeleton, our chain of islands links the country together with a masterpiece of beaches, creeks, bluffs and mangrove systems. Our location, only sixty miles off the coast of the United States, is etched in stone and could never be outdone unless a great Atlantis should rise out of the Gulf Stream (scientists say not likely to happen).
Muscular System
From those that help our heart to function, to those in our digestive system and to Lou Ferrigno and Arnold Schwarzenegger, the muscles do all the heavy lifting. The Bahamas has its own arsenal of heavy lifters. World famous hotel brands like Atlantis, Grand Hyatt, Four Seasons and Rosewood, to name a few. Additionally, well known international developments like Albany on New Providence (headed by Tavistock) and Bakers Bay on Guana Cay in the Abacos (developed by Discovery Land Company) are strong indicators of healthy prospects to develop world class real estate projects that will appeal to the who’s who from around the world.
And if the projects aren’t enough, we have an incredible array of restaurants, the finest super yachts to charter for the day or week and a suite of seaplanes and off-shore excursions to keep you entertained for any period of time.
Respiratory System (Nasal Cavity, Larynx, Trachea, Bronchus, Lung)
This system maintains our breathing and supplies the body with oxygen. It collects oxygen in the lungs and disposes of carbon dioxide by breathing out the waste product. It also provides our functions of speech and smell. Fortunately for The Bahamas, there is very little industry and a low population density therefore traffic, exhaust, power plants and waste are at a minimum. The islands are far enough away from the major cities on the east coast of the United States that the air quality is clear, clean, and mixed with a blend of salt. A rejuvenating breath of fresh air. Salt water, fresh air, clean environment and some sunsets sprinkled in: a general theme in abundance.
Digestive System (Oral Cavity, Esophagus, Liver, Stomach, Intestines)
Beginning with the mouth, this system is responsible for the breaking down and absorption of nutrients and the elimination of the waste not utilized by the body. It is responsible for identifying which minerals and vitamins from the foods we eat can be utilized or stored by the body, and which are to be disposed. Being only sixty miles off the shore of the world’s biggest economy is one of our biggest assets; another asset is what lies between. To the east of Florida and west of the Great Bahama Bank is the Gulf Stream. If you want to know where exactly the Great Bahama Bank is, scroll back up to the photo of Scott Kelly in front of the spaceship window, all that mass of beautiful blue, that’s it. The Gulf Stream is one of the most productive places on the planet. It’s home to all forms of marine life including whales, turtles, fish, coral and thousands of bird species. It runs from the bottom of Florida, along the Bahamas, all the way up the US and Canadian coast, then over to Europe. It keeps our planet warm and life abundant in its steady flow of marine wildlife traffic.
Nervous System (Brain & Nerves)
The nervous system controls all the other functions of the body. It activates muscles and breathing and sends information to the brain. It can also make you paranoid and afraid but there is no need to be worried in The Bahamas. These islands have been a parliamentary democracy for more than 290 years. The recently elected government announced a pro foreign direct investment position and with few exports other than tourism there are few alternatives.
The Bahamas government showed its openness to the international market by launching the ‘Live to Work’ visa program for non-nationals, allowing them to reside in the clean air Bahamas. Walking on the beach, swimming in the ocean – that’s the way to make lemonade when life throws lemons at the world. Did you know the yellow in the Bahamas flag represents the three hundred days of golden sunshine?
Endocrine System (Let’s just call this one ‘glands’)
A little less well known than the heart and skeleton but no less important, the endocrine system releases hormones that helps to regulate various processes in our bodies such as reproduction and metabolism. As a small offshore jurisdiction with little in terms of natural resources to export, The Bahamas must rely on being attractive to global citizens as a place to live and do business. Incentives such as no income tax, no capital gains tax no inheritance tax and competitive property taxes have been a pillar of the country’s ability to attract overseas investments. Permanent residency for international buyers investing $750,000 or more in a residence grants the opportunity to live, own and enjoy the lifestyle that is unique to these islands. Incentives such as the Hotels Encouragement Act offers significant tax advantages for developers by eliminating import duties and property taxes. The Family Island Development Encouragement Act is another one to keep capital flowing to the more remote islands.
Contact an Advisor about Residency Requirements
Cardiovascular System (Heart, Blood Vessels)
The heart pumps blood and blood vessels such as arteries and veins transport the blood to every part of our body providing organs and muscles with nourishment. The blood carries oxygen, carbon dioxide and nutrients throughout the body. The heart and soul of The Bahamas is the Bahamian people. Always fun, entertaining, colorful and outgoing.
The annual Christmas and New Year’s Junkanoo parades are a colorful explosion of imagination and creativity bringing Bahamian cultural celebration to the forefront of society. One cannot come to the islands and not enjoy conch salad with a cold local beer while hearing the island tales, told only with vibrant expressions in the Bahamian way. The further out you go from the city center the friendlier it gets. No need to have a key for you room or lock your car door with a laptop on the back seat, family island people are the best, hands down. And Bahamians never need too much of a reason for a party.
Reproductive Systems
The reproductive system mainly functions to create human life, but without a clean, healthy, sustainable environment human life would be impossible. The Bahamas is a leader in the region with its protection of wildlife and natural resources. The premier Exuma Cays Land & Sea Park was one of the first of its kind and has become the center of the western hemisphere’s most successful yachting destination.
The Blue Holes National Park and West Side National Park on Andros covers the largest area of any protected areas. The Bahamas joined the Caribbean Challenge Initiative and committed to protect and manage at least 20% of its nearshore marine environment. In addition to the protected areas initiative, sharks and hawksbill turtles are protected in The Bahamas and food staples like lobster and grouper have seasonal and size limits. The most popular conch is a cultural icon and is now a hot topic for seasonal or restrictive limits in order to preserve its long-term sustainability. What would we do without the conch?
As the old adage goes, “We do not inherit the earth from our ancestors but we borrow it from our children,” and The Bahamas is working hard to make sure we leave it better than when we arrived.
The Bahamas is experiencing its best market ever. If you haven’t already discovered why these islands are so special, we think you should pick up the phone and call us.
