Bahamas Condos for Sale: Where to Buy Luxury Condos in The Bahamas [2024]

Author
Recent Posts

Partner, Licensed Real Estate Agent at Better Homes and Gardens MCR Bahamas

Timothy Smith was born and raised in Nassau, Bahamas to a respected real estate family.At 25, Timothy had already achieved the goal of Top Rookie of the Year at MCR Bahamas. Just one year later, he achieved the highest honor in the firm as Overall Top Producer of the Year. He won this award again the year after in 2020. In 2021, Timothy Smith was appointed as Partner of the firm and has established himself as one of the most respected Real Estate agents in The Bahamas.

How to Find Condos in the Bahamas

If you Google “Bahamas condos for sale,” you’ll see endless websites and listings. Don’t get lost in the real estate chaos. Follow these helpful tips first, and you’ll feel more prepared.

1. Make a budget

Are you in a position to buy a condo outright or will you seek a mortgage through one of their best lenders instead?

Bahamian condos range in price drastically, so a budget will help define your options. Take our luxury condo listings, for example. You can find a modest Bimini one-bedroom condo for $185,000…and then you’ll see an Ocean Club Residences condo for almost $7,000,000. Your budget will determine where you start and what type of Bahamas condos your real estate agent should look for.

Don’t forget to include property taxes, maintenance costs, and utilities when budgeting. However, one of the benefits of buying a condo is that amenities and maintenance fees are pre-determined by the HOA before you purchase.

2. Narrow down island and location

The Bahamas has 700 islands, though only 30 are inhabited. Still, that’s a large number of potential islands to consider, let alone neighborhoods.

What draws you to The Bahamas? Are you seeking action and proximity to city folks, cafes, and restaurants? Buying a home in Nassau might be a good choice. Perhaps you’re after a more luxurious stay with some privacy, so a gated community in Exuma might be a better fit.

If you need help narrowing down a location, our skilled real estate agents at MCR Bahamas would be happy to advise you on different condo opportunities.

Get in contact with our agents today.

3. Research condos for sale in The Bahamas

Ready to explore the market? In addition to your budget, consider:

Size: How many square feet do you want in your space? Would you be content with a smaller size if everything else looked good?

Location: Maybe the condo is in your dream city, but how safe is the neighborhood? How close are you to the grocery store or restaurants? Do you have to travel far to a hospital?

Amenities: Pool, gym, events room, security — note the amenities common in listings. Think about which ones are most important to you and how much they’re worth in your budget.

Management and Development: Who built the complex? Who manages the units? Have your real estate agent provide information on these parties and find out if previous tenants and buyers enjoyed their experience there.

Sunlight & Air: This is one of the top reasons for moving to The Bahamas! The condo’s number of windows and the direction it faces will impact the amount of sunlight and fresh air you can access.

Schools: Are you living with children? Research the neighborhood schools or find out how far away the condo is from your ideal Bahamas schools.

4. Work with a great real estate team

Real estate agencies are incredibly helpful in a foreign market. They can give you the low-down on the latest neighborhood trends, up-and-coming developments, great investment opportunities, and more.

But, not all agencies are equal. You’ll want a reputable agency with agents that have direct experience buying and selling in your chosen neighborhoods. Look out for happy testimonials as well.

At MCR Bahamas, we have a huge roster of real estate agents that have lived and worked in various Bahamas neighborhoods. For example, MCR Bahamas’ president Mario Carey holds the title of top real estate transaction producer for the Ocean Club Residence condominiums.

Agent and broker Sheldon Pitt grew up on Bimini Island, giving him unique expertise for residential and commercial listings in the area.

Reach out to us today to find your luxury Bahamas residence.

Why You Should Buy a Condo in The Bahamas

Some people like villas and luxury Bahamas mansions, while some prefer a townhome closer to the city. But for many, condos in the Bahamas are a top choice. Here’s why:

Affordable Amenities:

Owning a luxury property in The Bahamas offers numerous advantages, including access to exceptional amenities. Constructing or maintaining a swimming pool at an individual residence could entail an upfront cost of tens of thousands of dollars, in addition to hundreds more for monthly maintenance. Similarly, a gym membership can be an added burden on your budget.

Choosing a Bahamian condo, however, presents a cost-effective solution, providing access to premium amenities like pools, gyms, recreation rooms, and clubhouses, all encompassed within a consolidated maintenance fee. This approach can be more affordable than managing each of these services individually while offering residents a plethora of facility options for convenience and enjoyment.

Inclusive Maintenance

Another major benefit of Bahamian condo living is the comprehensive maintenance provided. Services such as lawn mowing, gardening, exterior maintenance, and driveway paving fall under the purview of the condominium association–effectively relieving residents of these time-consuming and often pricey tasks.

The all-inclusive approach to maintenance not only allows residents to save time and energy but also helps maintain the condo property’s overall appearance and market value. This well-rounded maintenance solution is perfect for those who prioritize both practicality and aesthetics in their home.

Affordable Ideal Location

Opting for a condo in prime locations like New Providence or Paradise Island can prove more affordable than purchasing a stand-alone house with similar size and features in the same area. If you have a specific budget and wish for a prime location, a condominium might be the perfect choice.

Condos offer a more budget-friendly entry point to remaining in high-demand areas in the Bahamas while still ensuring top-notch living conditions, taking advantage of shared spaces, and benefiting from economies of scale in terms of expenses and resources.

Security

Residential condos in the Bahamas can provide a high level of security, typically offering a range of measures including 24/7 concierge services and trained security personnel, while also featuring surveillance cameras and secured access points. The sense of community that condos nurture fosters a sense of safety and belonging, contributing to the overall appeal of condo living in the Bahamas.

Community

Whether for retirement, relocation, or simply desiring a change of scenery, Bahamian condominium complexes are characterized by the strong communities they cultivate. These residential buildings or complexes are home to like-minded families and individuals who share common interests, easing the formation of long-lasting relationships and the expansion of social networks.

Condos frequently offer activities and events, creating a dynamic and engaging atmosphere for residents of all ages and backgrounds. Living in a Bahamian condo not only ensures continued enjoyment and entertainment but also fosters opportunities for professional networking and the creation of lasting friendships.

Bahamas Condos for Sale: Where to find Luxury Condos in the Bahamas

Are you still considering your dream location or neighborhood? We’ll help you narrow it down with some tidbits of info for our clients’ favorite condo neighborhoods!

Beachfront Condos for Sale in Nassau and Paradise Island

A beachfront Nassau condo offers the best of both worlds: you get the flavor of the most bustling Bahamian city with the relaxation of the nearby Caribbean Sea. The islands enjoy a warm and sunny climate year-round, with average temperatures ranging from 66 to 90 degrees Fahrenheit. This makes it possible to enjoy the outdoors all year long, whether you’re swimming, sunbathing, golfing, or simply relaxing on the best beaches.

The social scene in Nassau and Paradise Island is vibrant and exciting, with many opportunities for those relocating to the Bahamas to meet new people and make friends. Both locations are home to a wide variety of restaurants, bars, clubs, and other social venues. There are also several other amenities available, such as spas, casinos, and shopping.

Price range: Beachfront condos often go for over $1 million plus, but you can find other Nassau condominiums for less away from the beach.

Beachfront Condos for Sale on other Bahama Islands

Living in a beachfront condo outside of Nassau and Paradise Island allows you to enjoy the magnificent beauty of the Bahamas without the hustle and bustle associated with these popular locations. In areas like Exuma, Eleuthera, or Grand Bahama, you can expect to find a more serene lifestyle–perfect for those looking to relax and escape big-city vibes.

The smaller islands and settlements foster close-knit communities, allowing residents to connect with friendly locals and fellow expats. They also offer unique ecosystems and feature countless marinas and waterfront locations, perfect for outdoor enthusiasts. Additionally, beachfront condos outside of Nassau can offer more attractive sale and rental prices.

The Bahamas has tons of condominiums and resorts along the island coastlines outside of Nassau and Paradise Island. You might see a little Grand Bahama condo in the lower hundreds of thousands or be wowed by a luxury condominium penthouse in the millions. Price range: $50,000 – $2,000,000

Condos for Sale in Grand Bahamas and Freeport

Known for its impeccable blend of modern infrastructure, natural beauty, and tropical lifestyle, you’ll find plenty of condo complexes in Grand Bahama. Its luxury condos feature amenities like swimming pools, fitness centers, spas, tennis courts, and gated entry, providing a resort-like experience every day.

You’ll also find affordability and character in Freeport, the main city on Grand Bahama Island. It’s the second-most populated Bahamian city, but you can find condos under $200,000 or less.

Price range: $100,000 – $600,000

Condos in the Bahamas for Sale Under $200k

Many people don’t realize the islands offer a simplistic lifestyle for those that seek one. You can find condominiums for under $200,000 depending on your location, the size you need, and the amenities you’re looking for.

Consider a modest condo under $200,000, which is possible on Eleuthera Island or back at Freeport!

Condo for Sale In Bahamas Under $200k

While this price range may not provide the same opulent experience as luxury condos, you can still expect to enjoy a comfortable and pleasant lifestyle with the following features:

Cozy living spaces: Condos under $200,000 usually provide more compact living spaces compared to luxury condos but are still designed to maximize functionality and maintain comfort.
Standard amenities: These condos may offer access to essential amenities such as shared swimming pools, basic fitness centers, and on-site property management, depending on the complex.
Proximity to essential services: Affordable condos are generally located near grocery stores, schools, medical facilities, and public transportation to ensure convenience for residents.
Safe communities: Many condos in this price range are still part of gated communities, creating a secure and friendly atmosphere.

Condo for Sale In Bahamas Under $100k

Living in a condo costing less than $100,000 in the Bahamas offers an affordable entry into the Bahamian real estate market while still enjoying the perks of island life. However, you might have to compromise on certain aspects, such as size, location, and amenities.

Best Condos for Rent

Considering the breathtaking beauty and unique island experience that the Bahamas have to offer, it’s no surprise that many are choosing to rent condos instead of staying in hotels. With a vast selection of condos available for short-term and long-term rentals, you can find the perfect place to match your needs and preferences.

Renting a condo in the Bahamas ensures you have all the comfort of home while enjoying the tropical atmosphere, adventure opportunities, and varied cultural experiences that define this amazing location. Consult with a Bahamas realtor to rent a condo in virtually any location in the Bahamas, including Freeport, Eleuthera, Nassau, and more.

Price Range: Depending on the size and amenities, you can rent a condo for as low as $850 per month, to well over $40,000 per month

More About Bahamas Real Estate

Can a U.S. citizen buy a house in The Bahamas?

Yes, a U.S. citizen can certainly buy a house in The Bahamas. The Bahamian government encourages foreign investment in real estate, making it relatively easy for foreign nationals, including U.S. citizens, to purchase property on the islands. Buyers should be aware of the International Persons Landholding Act, which requires non-Bahamian citizens to apply for a permit from the Bahamas Investment Authority (BIA) if they plan to purchase undeveloped land or properties larger than two acres. For properties below this threshold, a simpler registration process through the BIA is usually sufficient.

It’s also essential for U.S. citizens to work closely with a licensed real estate attorney in The Bahamas to navigate local legalities and procedures. This ensures a smooth and transparent transaction, as well as peace of mind throughout the process.

Where is the best place to live in The Bahamas?

The choice of the best place to live in The Bahamas depends on each individual’s preferences and priorities. The Bahamas consist of more than 700 islands, but some of the most popular locations for residents and foreign investors include:

Nassau: As the capital city situated on New Providence Island, Nassau offers urban amenities, vibrant cultural experiences, and entertainment options, making it an excellent choice for those seeking convenience and excitement.
Paradise Island: Known for luxury resorts, world-class golf courses, and high-end dining, Paradise Island is ideal for those looking for a luxurious lifestyle.
Grand Bahama Island: With its mixture of serene nature, stunning beaches, and vibrant nightlife, this island is a perfect location for people who want to enjoy a blend of relaxation and leisure activities.
Exuma and The Exumas Cays: Renowned for their crystal-clear waters and pristine beaches, these islands offer a tranquil and picturesque environment for those who seek a more serene and private island lifestyle.

Ultimately, the best place to live in The Bahamas hinges on various factors, including lifestyle, budget, and access to essential amenities and services.

Is The Bahamas a good place to buy real estate?

The Bahamas is indeed an attractive destination to invest in real estate, offering several benefits including:

Stable economy: The Bahamian economy is relatively stable, with steady growth evident in various sectors, including tourism and real estate.
Tax incentives: The Bahamas is a tax-friendly jurisdiction, with no income, capital gains, or inheritance taxes for property owners.
Ease of foreign investment: The Bahamian government actively encourages foreign property investment, simplifying the process for potential foreign buyers.
Appreciation potential: Owning property in The Bahamas provides the opportunity for capital appreciation over time due to the steadily growing demand for real estate in the region.
Natural beauty and lifestyle: The Bahamas’ stunning environment and exceptional quality of life make it an appealing location to own property.

While investing in Bahamian real estate offers numerous benefits, it’s prudent to thoroughly research and consult with local experts, such as real estate agents and attorneys, to make sound and informed decisions.

Are there property taxes in The Bahamas?

Property taxes do exist in The Bahamas, though they are generally considered relatively modest compared to other jurisdictions. Rates are determined by the property’s value and usage (owner-occupied, residential, or commercial). Property tax rates for owner-occupied properties are as follows:

First $250,000: Exempt
Over $250,001 – 500,000: 0.625% of the property value
Over $500,000: 1% of the property value

For non-owner-occupied residential properties, the rate is 1% of the property value up to 500,000.

It’s essential to be aware of the tax implications when investing in Bahamian real estate and to consult with a legal or tax expert to ensure full compliance with local rules and regulations.

Find the Best Condos for Sale in The Bahamas

The Bahamas is a spectacular place to buy condo properties. It has the best weather, beautiful beaches, and a thriving tourist economy. But why jump into the condo search alone when you have so much support available? We’re ready to help!

With a generous range of prices, endless amenities, and breathtaking views, you can live a Bahamian life of luxury in any of the country’s wonderful condos.

Looking for a luxury condo in the Bahamas? Contact us at MCR Bahamas so we can get started.