Bahamas Homes for Sale Are Sought After by Canadian Investors

Rachel Pinder, principle broker of Island Living Real Estate, a Nassau and Eleuthera Bahamas real estate agency, said she has seen a steady increase in Canadian investors in the past four to six months.

Most inquiries are for private homes and condominiums in gated communities. These communities tend to offer a specific lifestyle, along with chances to meet new people and build lifelong relationships.

The increase in Canadian inquiries into Bahamas homes for sale isn’t limited to Island Living Real Estate.

“It’s going on throughout the entire real estate community here,” Pinder said. “There has been an increase in sales to Canadian buyers this year and most of the inquiries we continue to receive are from Canadians interested in Bahamas property.”

Many Canadian buyers choose properties they can use as vacation getaways and as income generators by renting them out when the homes aren’t being used.

For sellers looking to benefit from increased Canadian interest in the Bahamas, it is important to show proof of a healthy return on the investment property, since this is such an important factor in whether a home buyer purchases a particular home.

“Property that has been vacant for a while could be seen as a sign that rentals in that particular area are down,” Pinder said. “Conversely, a home with a history of continuous rentals gives potential buyers confidence that the property is a good investment.

Pinder works with Canadian buyers by doing research on rental history to help them in the decision-making process.

Luckily for interested Canadians, The Bahamas rolls out the “welcome” mat for foreign investors. The International Persons Landholding Act automatically approves purchases of residential property by foreign investors, as long as the property is less than five acres on a single island in The Bahamas. Exceptions to this approval are properties that occupy more than half the land area of a small island or a cay, and property that includes an airport or a marina.

Another attractive benefit to Canadian investors is that if they are looking to purchase vacant land and build a home on it, the IPLA exempts foreigners from being required to pay real property tax for up to two years on such purchases, as long as the investor begins developing the property during that two-year period.

Tips for Canadian Investors
Pinder has some advice for Canadians interested in owning their own little piece of Bahamian sun, sand and surf.

First, she said, is to research the market. If investors can’t look into things like utility costs and available transportation to and from the island they are interested in, it is a good idea to hire a Realtor who can conduct this research for them.

When it comes to rental questions, investors should call property management companies and leasing offices to inquire about current housing trends.

When the opportunity is there, Pinder also said it is a good idea to purchase Bahamas real estate at the beginning of a new construction project.

“However, it’s a good idea to talk to a Realtor in the area who can determine if the developer has a good track record when it comes to keeping development promises before going through with the purchase,” Pinder said.

Learn More
If you would like to learn more about opportunities for purchasing Nassau, Bahamas rental properties or other Bahamas real estate, contact Island Living Real Estate by visiting the agency’s website: www.islandlivingrealestate.com.

About Island Living Real Estate
Rachel Pinder is the principle broker of Island Living Real Estate. Along with her team of brokers, Hazel Wicky, Brenda Knowles, Anthony Wells and Heather Carey, the company has more than 25 years of experience in real estate sales and development throughout the Bahamas. Island Living has Realtors available to assist buyers and sellers with all their real estate needs.

Island Living’s main office is located in one of Nassau’s oldest historic buildings on Bay Street, named “Red Roofs.” Red Roofs was built in 1896 and has been home to various families, a Gourmet Deli and now Island Living.
Island Living Real Estate- bringing the life of the islands to your front door!

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Island Living Real Estate is a full service company with experienced Nassau real estate agents who serve all the Islands of the Bahamas and are specialized in luxurious waterfront properties as well as investment properties in the Bahamas Islands.

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