Mon. Nov 28th, 2022

The Bahamas is a breathtakingly beautiful archipelago of hundreds of islands. Its tax regime is investor friendly, and the country offers world-class golf courses, shopping, spas, and luxury homes. Whether you’re looking for the perfect vacation home or a permanent home, there are many options for you.

Luxury condos and oceanfront estates are also available. ocean club estates Ocean Club Estates, for example, features resort-style amenities and a community pool for residents. You’ll enjoy the opulence of luxury and convenience, along with minimal maintenance costs. And if you’re not looking to live in a resort, there are still plenty of options in The Bahamas.

Major banks in The Bahamas offer mortgages to both foreign nationals and Bahamians. Some offer up to 25-year terms with just a ten percent down payment. Other institutions are more restrictive about the type of property you can buy. A reputable real estate agent can help you with the process of securing financing for your new property.

Buying and selling property in the Bahamas has several advantages. In addition to its low tax rate, it has an experienced real estate market. The process is efficient, transparent, and secure. During the transaction, a buyer’s attorney will check the validity of the property title. Any missing abstracts and other legal issues could affect the marketability of the property.

For a taste of paradise, the Bahamas have a vast number of islands. Its capital, Nassau, is located on the 21-mile-long New Providence island, which is linked to neighboring Paradise Island by a bridge. Luxury developments on Paradise Island include the prestigious Ocean Club Estates, which are located on the eastern tip of the island. The prices of these waterfront properties start from US$14 million.

In addition to the government’s low tax rate, Bahamas property is also tax-exempt. The government collects taxes on goods imported to the country and imposes a Value-Added Tax (VAT) of seven percent on all transactions. This tax is generally shared by the buyer and seller. However, the first $250,000 of an owner-occupied residential property is exempt. After that, the tax rate goes up to one-half of one percent of the market value.

As a result, demand for residential property in The Bahamas has fallen. According to Engel & Volkers’ 2019 Real Estate Market Report, the number of residential sales fell by 20% year-on-year. A significant part of this decline was due to the Bahamas government shutting its borders to international tourists. The government has since then restricted international travel and tourism to prevent the spread of coronavirus. As a result, air and sea travellers have decreased dramatically compared to the previous year, and the number of visitors is projected to drop further.

There are many reasons to invest in Bahamas Real Estate. The island’s tax-free status makes it an excellent place for people looking for a secure, vacation home. Its 310 days of sunshine per year make it a top location for vacationers and investors. The Bahamas also has a vibrant expat community and a great investment property market.

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