The country's real estate sector saw an upswing in 2013, with a slight increase in the average sale price. As a result, some of the leading realtors are already expressing optimism about next year.
Damianos Sotheby's International Realty saw its average sales prices go up slightly at just under $2 million, according to its President and Managing Broker George Damianos.
He credits the success his firm experienced this year to competitive pricing and a renewed confidence among buyers.
"We are quite pleased with 2013, with the average sales prices up slightly, coming in at slightly under $2 million. We did a year-over-year increase, so we're hoping that 2014 would be just as good and even surpass 2013. If that is able to happen, I would be ecstatic. In 2014, we're looking optimistic that it can be a good year," he told Guardian Business.
John Christie, vice president and managing director at H.G. Christie Limited, also expressed confidence in the market, saying that it has picked up "significantly" in certain areas.
"We have had a large number of sales in places like Ocean Club where a lot of homes that weren't selling before, a lot of them were sold this year. I think that's because sellers are getting more realistic in their pricing. The pricing is now matching the market. The market has also picked up in places like Grand Bahama. Overall, the market is much stronger than it was in 2012," he said.
For the firm, Christie noticed there was an increase in the number of large high-priced private islands being sold. He is looking forward to 2014 and believes it will be even better than 2013.
While sharing in the optimism of Damianos and Christie about next year's prospects, Larry Roberts, CEO of Bahamas Realty, said 2013 was "flat" for his firm.
"2013 was not a particularly good year for us. Fortunately, we have irons in the fire that should come through in the next few months," he revealed.
"Most of the business right now is the Old Fort Bay/Lyford Cay area. But the demand has not nearly been the same. I'm very optimistic about 2014. Certainly, it is going to be a much better year for us."

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