Realtor Mario Carey: 12 of ZeroZero

Nassau, Bahamas - A leading
Realtor® is urging government to reverse its increase in stamp tax on
real property transactions, saying "12% of zero is zero," and declaring
that multiple gains from a competitive tax rate far outweigh potential
losses resulting from higher taxes.

Mario Carey, CRS, CIPS, CLHMS, president of Mario Carey Realty and one
of the few Realtors in the region to hold a Bac...

read more »

Leading realtor fears middle class tipping point, urges new tax hiatus

A leading real estate broker and businessman said today the fastest route to a better Bahamas is to halt the precipitous decline of the middle class.

read more »

Leading Realtor warns against Additional Real Estate Tax, urges Incentives to boost jobs, ownership

A leading realtor is urging government to eliminate the 7.5% VAT on real estate transactions that took effect July 1, claiming there has never been a more critical time to encourage and incentivize investment, particularly in home ownership...

read more »

Realtors vary on Baha Mar's impact

Real estate practitioners vary on how much and how quickly the $2.6 billion Baha Mar project will impact real estate prices in western New Providence, but estimates are as high as a 30% increase by this time next year.
Garnett Ellis, president of Landmark Realty Investments & Appraisal Services told Guardian Business in an interview that such an increase for properties in the immediate vicinity of...

read more »

Realtor calls for housing incentives

read more »

Realtor to sue BREA over 'despicable act'

A realtor who was wrongly listed as no longer being licensed to practice real estate due to non-payment of dues to the Bahamas Real Estate Association (BREA) has given notice that he intends to sue the organization over the "despicable act".
Bishop Walter Hanchell appeared among a list of almost 70 real estate agents and brokers said to not be up to date with his dues and therefore deemed unlicens...

read more »

Realtors question impact of new VAT Bill

Members of the real estate industry have expressed considerable concern over yesterday's tabled value-added tax (VAT) legislation, claiming that it raised more questions than answers.
"We're still trying to comb through the bill," said a realtor, who wished to remain unnamed, adding that several realtors shared concerns over the taxes applicable to professional fees within the industry, including ...

read more »

Prominent realtor dies

A prominent realtor and businesswoman, Virginia Damianos, passed away last week.
Damianos, vice president and co-owner of Damianos Sotheby's International Realty, succumbed to a three-and-a-half year battle with cancer on the morning of July 9.
In her passing, the business and real estate community lost a beloved and influential figure, said a release issued in tribute to Damianos by Damianos Soth...

read more »

Well-known realtor Virginia Damianos Premock dies

WELL-known Bahamian realtor Virginia Damianos Premock has died at her Ocean Club residence after a three-year battle with cancer.

read more »

Realtor: Sales in middle class homes market have 'stopped'

A realtor has argued that sales in the middle class homes market has "stopped" and the situation is only going to "get worse before they get better" with the onset of value-added tax (VAT).
Chris Armaly, realtor/appraiser with Morley Realty Limited, pointed to high costs associated with home purchases, a shift in the government's stamp tax policy whereby tax owed is based on the appraised rather t...

read more »