Wed. Dec 7th, 2022

The Bahamas property market has increased significantly in recent years, and the country has a warm welcome for foreign buyers. There are few restrictions on foreigners buying property here, and the International Persons Landholding Act of 1993 allows foreigners to sell their homes in the country. Foreigners may purchase up to five acres of land, which is considered undeveloped. A permit is needed to build on land that is more than five acres, however.

If you are not a Bahamian, you can obtain an annual residency card, which allows you and your family to reside in the country. It is a great option for those who are financially independent or want to invest in property in the Bahamas. Processing fees for an annual residence permit start at about $10K.

The Bahamas has a tax regime that is friendly to investors. The real estate market is mature and transparent, and the process is easy and secure. Before buying a property, the buyer’s attorney will check the property’s title to make sure that it is in fact owned. The vendor must also ensure that the property history is accurate.

The Bahamas Property Fund is a real estate investment trust with three commercial properties in The Bahamas. They are located in the capital city Nassau and on the island of Paradise Island. The properties include the Bahamas Financial Centre, One Marina Drive, and Providence House. harbour island real estate The fund buys and sells properties across various industries, and its shares are traded on the Bahamas International Securities Exchange (BISX) under the symbol “BPF.” The fund is managed by Royal Fidelity Bank and Trust. It has about $700 million in assets under management and administration.

Single-family home prices in the Bahamas decreased slightly by the year in New Providence, but prices of condominiums increased significantly. These properties have great views of the Harbour and the island’s historic harbors. These properties also benefit from a full-time estate manager and maintenance staff. This is a great investment opportunity for those who want a place to call their own.

Real estate taxes in the Bahamas are low. In general, they are around 2% of market value. Taxes are split between the buyer and seller. However, the first $250,000 of owner-occupied residential property is tax-exempt. Between $250,000 and $500, the buyer and seller split the tax. After $500,000, the price goes up to $7,000, but a property valued at more than $7,000 is taxed at a rate of 1.5% per annum.

For buyers looking to buy a property in the Bahamas, it is best to contact a specialist broker. A specialist broker can explain the options to buyers, and help them secure financing. The specialist brokers can also answer questions about Bahamas property finance.

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