Bahamas Real Estate News

Although sales in the Bahamas' second home market were soft last year, the decline
was not nearly as bad as anticipated, according to Prime Minister Hubert Ingraham.
So it's good to know that while big business was unfortunately particularly vulnerable to the global downturn, private Bahamas real estate sales went ahead, albeit at a slower pace.
Mr. Ingraham noted that second home sales in the Bahamas islands of Nassau, Abaco and Grand Bahama were the most resilient.
It's expected that the second home and rental market will improve along with the US economy.
Investments in other areas of the Bahamas will also have a positive affect on the demand for Bahamas real estate.
A number of large international companies have been given the green light to open corporate headquarters, sales offices and training facilities in the Bahamas.
This includes Swiss watchmaker Rolex (Caribbean), which has received permission to locate its watch making and repair training centre in Nassau, Bahamas.
Also, Oldcastle Building Products (Caribbean) is to locate its sales office for the region and North America to Nassau.
And Brimac Environmental Group received approval to transfer its corporate headquarters to the Bahamas.
In Exuma, the opening of the new luxury 183 room Sandals Resort has
created jobs for 300 Bahamians.
The nearby Grand Isle Resort and Spa, with its magnificent golf and ocean-front villa-only beach resort of luxury villas and penthouses, is poised to benefit.
In Andros, the small boutique Tiamo Resort is set to be relaunched on Andros Island the upscale Delphi Club in South Abaco scheduled to open in April.
The multi-million dollar luxury golf and marina resort, Albany, in south
western Nassau is moving ahead.
And the $75 million first phase of the Caves Heights condo development
on beautiful West Bay St in Nassau is almost complete.
Mr. Ingraham is hopeful that a number of stalled tourism will kick back into life this year.
And so, while Bahamas real estate has been impacted by the worldwide recession, the economic engine, although sluggish, is still chugging along.