Search results for : Residential
March 22, 2024
GBPA showcases investor-ready commercial and residential properties
NASSAU, BAHAMAS — Executives of the Grand Bahama Port Authority are heralding a 'renaissance' in the island's economy, with a pipeline of projects worth $2 billion. During the opening of their Nassau satellite office, they showcased several 'investor-ready' commercial and residential properties. Derek Newbold, Chief Investment Officer for the GBPA, highlighted the progress made since [...]
January 09, 2024
HG Christie Tapped by Weller Development Partners to Lead Brokerage of First-of-Its-Kind Luxury Residential Development in Grand Bahama
HG Christie, a Bahamas-based full-service real estate company, announced today their partnership with leading real estate developer, Weller Development Partners, to handle the branded residential sales for Weller’s $250M+ Six Senses Residences Grand Bahama Development.
January 09, 2024
$250 million Six Senses development on Grand Bahama to launch residential sales in Q1
NASSAU, BAHAMAS — Residential sales for the $250 million Six Senses Residences Grand Bahama development are scheduled to commence in the first quarter of this year. On Monday, Weller Development Partners, a DC-based full-service development firm, announced its strategic partnership with HG Christie and Bespoke Real Estate to handle the offerings. The Six Senses Grand [...]
January 08, 2024
Four Seasons to expand residential portfolio to The Bahamas
NASSAU, BAHAMAS — Luxury hospitality company Four Seasons, along with the US-based real estate development firm Two Roads Development and Access Real Estate, have unveiled plans for The Ocean Club, Four Seasons Residences in the Bahamas. Scheduled to open its doors in 2027, this residential community will comprise 67 turnkey Private Residences managed by Four [...]
January 02, 2024
Central Bank relaxes lending rules for residential mortgages
NASSAU, BAHAMAS — The Central Bank has announced that it is relaxing the lending rules for residential mortgages provided by domestic banks and credit unions by revising the minimum equity injection requirement, a move expected to alleviate the financial burden for qualified borrowers and allow some additional individuals to qualify for credit. The Central Bank [...]
April 17, 2021
Iconic Developer looks to close out Final Residential Sales in Hot Market
In 1989, the bridge over Sandyport’s canal entrance was constructed and launched the pioneering development that today has over 500 homes, a school, more than 60 shops and businesses and the 72-room Sandyport Beach Resort.
The Buckner family purchased the property from the late Sir Harry Oakes who brought his gold prospecting wealth to the Bahamas for the tax-free environment. Named after th...
March 26, 2021
PM's 83-acre residential plan isn't enough, says developer
While calling it a good thing that the government is seeking to assist homeowners, Arawak Homes President Franon Wilson said Prime Minister Dr. Hubert Minnis' plan to sell property in western New Providence for $50,000 per lot does not help enough people. The prime minister tabled a resolution in the House of Assembly on Wednesday ...
The post PM's 83-acre residential plan isn't enough, says devel...
February 26, 2021
Residential mortgage commitments the lowest in a decade
Last year saw the lowest number of residential mortgage commitments in almost a decade, according to the latest data released by The Central Bank of The Bahamas. There were 773 mortgage commitments in 2020 - 641 single dwelling and 132 duplex and row - valued at just more than $150 million, according to the bank's ...
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December 02, 2020
Fewer residential mortgage commitments as consumers feel the pinch of COVID-19
Fewer and fewer Bahamians have been obtaining residential mortgages, according to the latest data provided by The Central Bank of The Bahamas' Quarterly Statistical Digest, again reflecting the impact of the COVID-19 pandemic on consumer spending patterns. Data in the report shows that while the year started strong, with 253 mortgage commitments during the first ...
The post Fewer residential mort...
No VAT on long-term residential rentals
January 01, 2015
No VAT on long-term residential rentals
In a move that will likely please local realtors, the latest value-added tax (VAT) guidance for land and property has removed the tax from long-term residential rentals.
The exemption, which was announced in guidance documents released just three days before the implementation of VAT, answered one of the sector's lingering questions surrounding the tax. Previous guidelines had stated that any rent...
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