Whether you’re buying a home in The Bahamas or looking for a second home, there’s a real estate office in Harbour Island that can help. You’ll find it on Dunmore & Crown Sts. There’s also Coldwell Banker Lightbourn Realty, which has an office on the Island as well.
Coldwell Banker offers luxury homes for sale as well as opportunities for custom home construction. They’re real estate agents who know the ins and outs of the process from start to finish. You can relax knowing that they’re working for you. Whether you’re buying a home or looking for an investment property, they’ll help you navigate the process and help you make the best decision.
Whether you’re buying for investment purposes or as a permanent residence, you can secure a mortgage for a Bahamas property through a major bank. Many offer mortgages for as little as 10 percent down and can offer you terms up to 25 years. However, if you’re not a Bahamian or permanent resident, you’ll need to register your investment with the Foreign Investment Board and the Central Bank of The Bahamas. This will allow you to take out the net proceeds of your sale in the currency of your original investment.
While Bahamas property prices have fallen in recent years, the market has rebounded and investors can now find a variety of exciting opportunities for medium-term growth and rental yields. harbor island bahamas real estate Once exclusive only for the very wealthy, the Bahamas have become more accessible for a wide range of development projects and financing options. There are several ownership options to choose from, and the Bahamas’ relaxed lifestyle has been a boon for the island’s economy.
Luxury homes can cost as little as $1.2 million. These are designed in true Bahamian style and offer individual seclusion, full-time estate managers, maintenance staff, and a worry-free lifestyle. The Bahamas is also home to the world’s most prestigious luxury resorts, and the real estate market is booming. Whether you’re planning on living in The Bahamas or acquiring an investment property, a specialist broker can walk you through the options and answer any questions you have about the financial arrangements.
Taxes in The Bahamas are low. There is no sales tax, income tax, or inheritance tax. However, there is a real property tax on vacant land. You’ll need to pay property tax on the land you buy, and on any commissions or legal fees you pay. This tax is not automatic, and you have to apply for it.
Purchasing a Bahamas property has a number of legal and tax implications. Purchasing property is a major financial decision that requires careful consideration. Both the buyer and seller should hire a lawyer. The Bahamas Real Estate Association has established a standard set of realtor fees, which range from two to eight percent, depending on the value of the property. The buyer’s costs are generally lower, while the seller’s costs can be higher.