When it comes to real estate in the Bahamas, there is no better place to go than the Bahamas Property Group. This company has years of experience in the market and will guide you with the right information. They can help you purchase a home or invest in a vacation rental. There are a number of advantages to dealing with a real estate agent.
For starters, the Bahamas’ tax system is friendly to foreign investors. There is no capital gains tax or income tax. There are bahamas luxury real estate to buy a luxury home in The Bahamas. The capital city, Nassau, is located on the New Providence island and is linked to neighboring Paradise Island via a bridge. On the eastern tip of Paradise Island, Ocean Club Estates is a full-service luxury development that features waterfront properties for sale. Homes in this development start at about US$14 million.
The Bahamas is a beautiful archipelago, composed of hundreds of islands. There are many attractions, including an investor-friendly tax regime and world-class shopping and spas. In addition, the Bahamas has some of the finest homes in the Caribbean. So, whether you’re looking for a quiet, private island or a luxurious waterfront property, you’ll find something that’s right for you.
The Bahamas Property Tax is 2% of the market value of the property. For non-Bahamians, this tax is non-existent if they are purchasing residential properties under 5 acres. However, if they’re purchasing a large property for development, they’ll need to apply to the Bahamas Investment Authority (BIP) with a project proposal, financial projections, and estimated employment needs.
The Bahamas Property Taxes are low and transparent. Generally, buyers and sellers share the tax burden. However, it’s important to ensure that the title of your property is valid. Any missing abstracts will devalue your property’s marketability. You must also ensure that all of your property’s history is correct.
If you’re considering purchasing a property in the Bahamas, it’s recommended that you consult a local attorney. This attorney will ensure that all of the relevant title documents are in order and protect you from any potential issues with the title. He or she will also provide an opinion on the title of your property, which is similar to title insurance.
During the global financial crisis, prices of Bahamas Property plunged by 20% and even 60% in some parts of the country. However, the government has restored some of the demand for Bahamas property. The latest figures from Engel & Volkers showed that only 20% of residential property sales occurred in the country in 2019. Since then, the government has slowed down the international tourist flow in the Bahamas and has temporarily closed the island’s borders. This has caused a drastic decline in air and sea travellers. Tourism figures are expected to be even worse in the second quarter of 2020.
Other notable figures who have purchased Bahamas Property include Nicolas Cage, Maria Carey, Sean Connery, Michael Jordan, and Tiger Woods. These individuals have made a great deal of money from real estate in The Bahamas.