Looking to Buy a Private Island in the Bahamas? Exuma Is the Place to Start
Without question, Exuma is the place to buy a private island in the Bahamas. Beginning 50 miles off the coast of Florida, the Bahamas are a breathtaking country of 700 islands just waiting to be claimed. With gold-and-pink beaches, stately palms and a lush world of tropical foliage, these islands provide the perfect setting for pure relaxation and renewal. With that being said, they also provide some fantastic investment opportunities.
These days, private islands in the Bahamas are especially attractive, thanks to some signifiant developmental projects, along with the area, itself. Awash in year-round sunshine, the Bahamas are an amazing sight to behold. They’re also a great destination for snorkeling, diving, boating, shopping and gaming. It’s a veritable paradise that lures in some of the top celebrities, who are some of the best-known real estate buyers. That said, you certainly don’t have to be a celebrity to buy land in the Bahamas, especially if you’re looking in Exuma.
The Bahamian market is tied closely to the U.S. economy. After being hit hard by the global financial crisis, things have changed considerably as of late. 2013 built incredible wealth for Americans, thanks to the stock market’s explosive rise and the resiliency of several major real estate markets. In turn, the Bahamas are once again becoming an excellent destination for vacation estates; and, American buyers are taking notice.
About 80 percent of all Bahamas’ buyers are Americans, who make a home of the island during the winter. The Bahamian government places no restrictions on foreign property ownership. That said, many Americans choose to apply for permanent residency status, because it carries substantial tax benefits in the U.S.
Obviously, financial benefits aren’t the only reasons to buy property in the Bahamas; however, they are especially relevant, these days. Oceanfront real estate in the Bahamas will soon become quite valuable, thanks to a massive 3.4 billion dollar development project in Nassau that will yield the incredible 1,000-acre Baha Mar resort in late 2014.
The gaming and entertainment resort will feature a 100,000-square-foot casino, a 200,000-square-foot convention center, an 18-hole Jack Nicklaus Signature championship golf course and a 50,000-square-foot retail strip. It will also include three spas, a 20-acre water park and a cluster of new hotels run by Hyatt Hotels & Resorts, Morgans Hotel Group and Rosewood Hotels & Resorts. All of this will create 12,000 new local jobs, while contributing about a 10 percent increase in the Bahamian gross domestic product. Moreover, it will result in significant property value appreciation for anyone who has enough foresight to snatch up some of the vacant land for sale in the Bahamas.
Although the Baha Mar project is pegged for Nassau, it should have a huge impact on all the islands. In my opinion, Exuma is a premier target for anyone looking for beachfront real estate in the Bahamas.
With sapphire-blue water in every direction, this tropical paradise is an absolute gem. Fit for the most noteworthy celebrities, Exuma features pristine, footprint-free beaches with sand that feels so fine, it almost seems synthetic. Many of the private islands in the Bahamas play host to some of the world’s most famous stars, including Johnny Depp, David Copperfield, Faith Hill and Tim McGraw. It’s the ultimate escape from busy mainland life and a great investment opportunity all in one alluring package.
If you’d like to learn more about private islands for sale in the Bahamas, please shoot me an email or give me a call. I’ve got personal connections that can help you find some great land for sale in Exuma. And, as always, if you have questions about any other type of real estate matters, feel free to get in touch.