By Robbai
An expat in the Bahamas offers in-depth advice about the real estate market in the Bahamas. Covers he most popular areas for expats like Sandyport, Old Fort Bay and Lyford Caye. Also, housing costs, the steps in buying property, closing costs and more.
Sandyport, Old Fort Bay, Lyford Cay, Albany, Love Beach area, Charlotteville, Balmoral and Sea Breeze.
Thre are a lot of real estate companies here. Some of the better ones I have dealt with are:
Adam Duncombe of ERA Dupuch Real Estate
Marilyn Ayearst-Hartley of Bahamas Islands Realty
Gavin Christie of C.A. Christie Real Estate
and Claire Thackray of Mccarroll Real Estate
Of course that is not to say the rest are all no good but I have come across some shady ones and so prefer to stick with the ones I know are honest and helpful. If you are looking to rent, you probably better off just asking around. Everyone knows people with homes for rent to expats and you will get a better deal not going through a real estate agent, just make sure you have a qualified person look over the lease agreement. If you want to build, speak directly with the builders, ask around to get the names of good ones. If you plan on building in a gated community the association can normally help you with finding a good builder as they don't want poorly developed homes in their community.
Large homes are very expensive in Nassau. If you go out east you can find large homes for much cheaper but be aware the crime level is higher there and this is one of the reasons many expats choose to live more west. Prices are higher in gated communities such as Albany, Lyford, Old Fort Bay and Sandyport but this comes with security guards, boat docks, canals, property maintenance etc. A large home in these communities will be over a million dollars and can get much higher from there. You can find smaller homes in the gated communities for the $700,000 to one million range. If your budget is lower you can look for a condo in these communities for around $500,000 more or less. If you want even cheaper I suggest looking outside these communities in areas like Coral Harbour and South Ocean where you can find much better deals and the risk is not as high as out east. If you are living alone you can also often find small apartments both in and out of the communities that are more reasonably priced.
Above all I suggest renting when you first arrive and take the time to learn the island and make contacts before buying into anything. You will discover that some areas are much more desirable than others. The maintenance cost can also be drastically different depending on where you are located, remember that Nassau is subject to hurricanes and hurricane insurance is quite expensive.
Most real estate agents work with lawyers and can recommend good ones. Having a lawyer is nearly mandatory and I would not suggest purchasing a place without one. Again, ask around first and make sure you have a good one. If you cannot find one on your own I suggest contacting Sandy Lightbourne but their are also many other goods ones available.
Property taxes are not outrageously high. However their are some high closing costs that a good real estate agent will explain to you. These vary depending on the value of your home and your citizenship. Large homes are taxed at a higher rate when owned by foreigners. The VAT tax was also recently raised which increased the cost of buying and maintaining a home in the Bahamas.
Not really, not at the personal property level.
Old Fort Bay: For those who have the finances. This is a an upper scale growing community which promises good return on your investment in the foreseeable future.
Sandyport: A more affordable alternative which is very popular with the expats such as the embassy workers. Values do not get as high as in Old Fort Bay so you may not make as much money on the sale in the future but its a safe bet.
Charlotteville: Another more affordable community that is popular with expats and rental properties.
Cunningham Estates: It's an emerging market right on a beautiful long lake which should gain in value over the next few years.
South Ocean: This is a lower priced neighborhood in the west. If you do not have the finances for the established communities but you have the time to sit on a property until the neighborhood develops this might be for you. As more people are moving out west these areas will become more built up, just don't expect to sale it rapidly.
AGS Worldwide Movers can move you to and from anywhere in the world. Presently the AGS Group has over 141 locations in more than 95 countries and has one of the largest networks in the international removals industry. We relocate 85,000 families every year. Free moving quote!
AGS Worldwide Movers can move you to and from anywhere in the world. Presently the AGS Group has over 141 locations in more than 95 countries and has one of the largest networks in the international removals industry. We relocate 85,000 families every year. Free moving quote!
Buying a property here in the Bahamas is very similar to most western countries. Find the property you wish to make an offer on and get pre-approved for a bank loan in the range you are looking for, submit the offer through a real estate agent or directly, hire a property lawyer when the offer has been accepted, complete the paperwork and registration process through the lawyer and/or real estate agent. It will help if you have a work permit, already have the finances for the property or are pre-approved for a local loan.
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Guide to Living in Nassau, Bahamas
Nassau, Bahamas: Cost of Living, Healthcare and What to Know About Living in Nassau
Bahamas Forum
Join our Bahamas forum to meet other people living in Nassau, Bahamas.
Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in Nassau.
Expats and global nomads in Nassau share their experiences with health insurance, healthcare in Bahamas, local hospitals and specialists, quality of medical care and more.
Expats offer advice about everything you need to know before moving to Nassau: what to bring (and what to leave behind), how to find housing and more.
Take off your rose-colored glasses and learn what expats and digital nomads have to say about the pros and cons of living in Nassau, Bahamas.
Rental listings in Nassau. Plus, advice about renting and buying real estate in Nassau
Expats share their experiences living in Nassau, Bahamas and offer advice about meeting people, schools and more.
An expat living in Nassau, Bahamas talks about the quality of healthcare in the Bahamas. He explained that the hospitals and clinics in the Bahamas provide care more quickly than in this home country of Canada. Also, many expats in need of specialized care take a quick trip to Florida.
An expat who retired in Coral Harbour, Bahamas talks about what it's like living there - from the thriving nightlife to the lack of big stores, financial requirements for permanent residence and healthcare.
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Expats in The Bahamas share 13 key considerations for anyone planning to move to the Bahamas.
Expats in the Bahamas live in the Caribbean but are very close to the U.S. Find out what it means to call Freeport, on the island of Grand Bahamas, your home. Some of it is island paradise, while other parts of the experience are clearly not.
Expats who choose to live in the Bahamas can explore a Caribbean paradise. Find out what it means to call Nassau, on the island of New Providence, your home.
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Get a quote for health insurance from our partner, Allianz Care.
Get a Quote
Nassau Index
An index of all of our site's Nassau information.
Expats in Nassau offer advice about healthcare, hospital visits, emergency rooms visits, finding a doctor and buying health insurance in Nassau.
Bahamas Forum
Talk with other digital nomads and expats in Bahamas on our Bahamas forum - meet people, get advice and help others.
Contribute
Help others in Bahamas by answering questions about the challenges and adventures of living in Bahamas.
Expats in Bahamas offer advice about healthcare, hospital visits, emergency rooms visits, finding a doctor and buying health insurance in Bahamas.
Expats in The Bahamas share 13 key considerations for anyone planning to move to the Bahamas.
Copyright 1997-2022 Burlingame Interactive, Inc.