The Bahamas Real Estate Market: Why we have survived!

By
Real Estate Agent with Keller Williams Lake Norman ~ Cornelius NCREC License #285201

I am often approached by buyers, foreign and local alike, asking if the real estate market has suffered like that of our neighbours to the north.  The answer is a resounding "Not even close!"  Typically there is an uncomfortable silence on the other end of the line and then I begin to explain.

The Bahamas real estate market is a very unique creature indeed!  We are geographically close to the US and our government and currency are stable.  We enjoy a year around climate that is sunny and warm and our islands and our people are equally as beautiful.  Our banking industry has very prudent lending practices which enables them to minimize their risks while maximizing their returns.  We did not experience a "credit crisis".  Another interesting contrast with the US real estate market is that we do not have an over abundance of inventory.  We do not have neighbourhoods that are 50% or more in foreclosure.  We have not seen a huge sell off of foreign or locally owned properties.  We have enjoyed a relatively balanced supply and demand situation.

While I would be remiss in not mentioning a correction in pricing, all markets across the globe will, from time to time, experience some correction.  This is healthy for the market and healthy for the economy as it allows the more prudent investors the opportunity to enjoy the benefits of home ownership in a slower market.

If you are interested in learning more about our market and it's dynamics I would be happy to discuss it with you. There is much to learn but one thing is for sure:  There is no better time to get into the Bahamas real estate market!

Comments (1)

Anonymous
Jackson White

I was wondering about the real estate market in The Bahamas.  I had been thinking about purchasing a second home in The Bahamas and now I feel more at ease from your words.  I will be in contact with you soon Zack.  Thank you again.

Feb 16, 2010 05:21 AM
#1