If you want to purchase a piece of property in the Bahamas, the first step is to register it. This process is compulsory if you want to purchase undeveloped land, or property of five acres or more that is not intended for private residence. You can do this through the Registrar General’s office. Once the paperwork is in order, the buyer will need to pay stamp duty, which is split 50/50 between the vendor and buyer. If you hire an attorney to help you through the process, you can expect to pay a fee of about one percent of the purchase price.
A private island in the Bahamas can be a great option for an investment. There are hundreds of islands that are available for sale. For example, the Exumas Islands are home to several celebrities, including Johnny Depp, who filmed Pirates of the Caribbean here. Another famous buyer is David Copperfield, who purchased 11 islands in the Bahamas for more than US$50 million in 2007. Faith Hill and Tyler Perry bought seventeen-acre Goat Cay and 20-acre White Bay Cay in 2009 for US$6.4 million. Prince Aga Khan IV purchased the 349-acre Bell Island for up to US$100 million. And in 2011, Shakira bought Bonds Cay for US$16 million.
Investing in real estate in the Bahamas is a great way to protect your money while enjoying the luxury of a resort lifestyle. There are many advantages to buying property in the Bahamas, including the investor-friendly tax regime and world-class resorts. Furthermore, the country has many attractions and world-class golf courses and spas. You’ll also find some of the most luxurious homes in the Caribbean.
If you’re thinking of purchasing a piece of Bahamas property, you should consider working with a real estate agent in the area. Using an experienced broker can help you navigate the legalities of property transfers and give you peace of mind that you’re making the right choice. If you’re ready to take the plunge, make sure to choose an agent who’s a member of the Bahamas Real Estate Association.
lyford cay real estate The Bahamas Property market offers a wide range of opportunities for medium and long-term growth. It also offers excellent rental yields. Once reserved for the ultra-rich, the country has opened up its real estate market to more people with development projects and finance options that are available to most people. For foreigners, buying property in the Bahamas is now easier than ever before.
The Bahamas is experiencing a slowdown in tourism. A global financial crisis in the Caribbean caused a 20% correction in property prices. In some areas, property prices fell by as much as 60%. However, since the onset of Hurricane Dorian, the economy has stabilized and house prices have increased.