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The Bahamas Buying Guide

A stable political democratic government who embrace tourism makes this a quality lifestyle investment with high entry and turnaround costs for property investment.

The Country:

This tropical paradise is only a 50 miles from Florida and comprises some 700 islands.

The islands, including uninhabited cays and large rocks, total an estimated land area of 5,382 sq miles.

Explore white sandy beaches clear turquoise waters islands and cays in a warm tropical climate.

Property Values:

The Bahamas offer a full range of property, beach houses that open to white coral sand beaches, gated communities, and marina property with your own boat dock at the bottom of your yard, condominiums and apartment buildings but never far from the ocean.

Generally the prices on the Bahamas is uncorrelated to other Caribbean islands, the reason being it’s closeness to the US.

With only a very small amount of coastline property left, property prices have remained stable throughout economic downturns; supply of good quality beach front property is fairly low with demand for this staying steady to strong.

Investment:

A stable political democratic government who embrace tourism makes this a quality lifestyle investment with high entry and turnaround costs for property investment.

Taxation on income, sales, estates or inheritances does not exist, this is a tax haven and Nassau was the first free port. There is a 2% property tax on units over $500,000 but nothing else.

Purchase Procedure:

Generally developers ask for around $10,000-$20,000 dollar deposit, this money is normally help in escrow. On contract the developer then asks for an additional deposit and the rest of the payment sare spread over the build period.

On a number of opportunities Fresh Invest has managed to get developers to agree to use an exchange bond, this minimizes your deposit to just the reservation fee. You will however need to fund the full purchase price on completion and the exchange bond does charge a nominal fee for this.

Mortgages are available in $ and are generally at 70% loan to value.Rates vary from between 2%-5% above US base. There is a 10% government stamp tax and 2.5% legal fees on completion that need to be paid.

Summary:

With over 700 islands you best get a boat because you might find yourself master of all you survey!

With The Bahamas being so close to the US, many wealthy Americans take holiday homes there, property with moorings being especially popular with the boat going community.

Sailing from Florida over to The Bahamas to your own property is something that many Americans strive for and has become increasingly popular recently.

Generally properties offered on these islands are not cheap, but what you do gain is a steady demand and the knowledge that property prices on the Bahamas are not too affected by what happens in other economies. This can be proven by the fact that prices have remained strong through 2008-2009, with the US sliding into recession.