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Real estate price drop

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Yvesvanwynsberghe
  3/5/2017 09:55 EST

Hello,
I follow for some time some properties in the Grand Bahamas. Nothing sells and prices are still going down. I look at waterfront properties and vacant lots.
Can anybody tell me what is going on?
Thx
Yves

sdamazo
  3/5/2017 13:58 EST

I just came from Grand Bahamas and saw a lot of damage nearly 80% of the island due to the last hurricane. Some buildings never recovered from the previous hurricanes (two at the same time). I went to Bahamas looking for property/land and further info over out islands too.

I have an agriculture farm plan that the government recommended Andros or Eleuthera and another smaller island, so will be buying there.

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Yvesvanwynsberghe
  3/5/2017 14:10 EST

Hello Sdamazo,
Thx for your answer. I am looking at some plots at Princess Isle. Have you seen how the situation is there?
Thx

sdamazo
  3/5/2017 16:03 EST

Have you been to Grand Bahamas recently or at all?

Locals and authorities said the damages are temporary since they have insurance and the government helps when it is required (relief program or similar).

Grand Bahamas is sparsely populated and the damage to some areas (i believe where you buying the land) are not that heavy.
Local vegetation/forest has been damaged there, but other than that, this is the pattern for the hurricane season.

I will go with my plan for the out islands in spite of the dramatic weather. So, it is a matter of knowing how to adapt and enjoy Bahamas.

Yvesvanwynsberghe
  3/5/2017 16:17 EST

Never visited the Grand Bahamas. I am investigating before I go there.
Wish you luck with your plans

clcizme
  3/5/2017 20:31 EST

Princess Isle is well. Most of the properties there didn't suffer damage. I live on GBI and could send you pics if you let me know what you are interested in. Other areas suffered damage but most of the better built homes did well. Hope that helps.

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Yvesvanwynsberghe
  3/6/2017 01:37 EST

Hello Clcizme,
Thanks for your reply.
I would really appreciate honest feed back about how life is in the Grand Bahamas.
I love boating and sunny weather but also we need a social life.
Maybe it is better that I contact you privately by mail if you approuvé off-course.
Best regards
Yves

sdamazo
  3/6/2017 10:14 EST

Are you going to live full-time there? Have you ever visited the out islands?

clcizme
  3/6/2017 11:19 EST

Absolutely. You can write to me directly. I have lived in GBI for 8 years and know a thing or two. ; )

Yvesvanwynsberghe
  3/7/2017 08:21 EST

Hello,
Never visited the region.
I want to spend some 6 months a year there when I can slow down my professional activities.
First I want a lot of information so when I come to visit that I know what to expect and what to look at

sdamazo
  3/7/2017 10:38 EST

Further details since we aim the same things here:

I checked info for quite a long time and spoke to many ex-pats living in Bahamas, as well as main state agents.

Then, I decided to go first to Grand Bahamas since I thought it would have more infrastructure to start my plan. In the end it was a mistake because I didn't want to settle there (not even for the first six months until I checked all out islands).

Nassau may be the best choice for social life or else, but I am wary of crime issue and want a less populated island. Travel to other islands is basically via Nassau too and Grand Bahamas has certain limitation going around.

I may be wrong since I stayed there a short time, but I didn't see much social activity around the island either.

Regarding hurricane destruction, I went to speak to local owners who had business or private properties on the seaside, and they said that last time (didn't research previous events) there was a tsunami about 3 m/10 ft or more that damaged the buildings. Another issue to see if buying on the beach.

I am following local climate change with US research entities to see the (or if there is a) new pattern, but since the/one chief director said that he would live there, so I am. Now it is a matter of developing a design to fit this local weather and standard.

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Tankawakpa
  3/7/2017 11:20 EST

Hi,

If you do a little research, you will see that the same phenomenon is occurring in the whole region. I believe this is due to the slumping American economy and the fall of the Canadian dollar.

sdamazo
  3/7/2017 11:25 EST

I a m taking about actual climate change and not a parallel reality created by denial.

I did research a 'little' as you say around Grand Bahamas and actually saw the damages and talked to a lot of people about current affairs. So nothing related to conspiracy and virtual reality (Trump?).

Yvesvanwynsberghe
  3/7/2017 12:31 EST

Thx for all this info!

windshadow
  4/10/2017 10:55 EST

Do you have potable water? If not, where do you get your water?

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