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Luxury real estate in The Bahamas has a lot to offer. There are beautiful islands, historical sites, excellent diving, and great opportunities to get close to nature.
The Bahamas is the perfect place to find a luxury real estate home because it offers a wide range of styles, from luxury mansions to a more subdued luxury condo. It’s a great location not only for snowbirds, but for the individuals that appreciate the tax benefits, great international schools, and a number of safe places to call home.
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Bahamas Luxury Real Estate Statistics
The Bahamas offer the ultimate resort-style living with its beautiful, pristine beaches and endless natural beauty for you to enjoy. People are relocating to The Bahamas because of all the unique amenities that this tropical paradise provides.
In more recent years, expats have also been attracted to The Bahamas because of their stable economy and appealing tax advantages. After the recession in 2009, The Bahamas saw a boost in upscale residential development. Individuals took advantage of this boost to set up roots on the islands.
On average, luxury real estate, like mansions, in The Bahamas can cost around $2.5 million. However, luxury homes can be for sale for upwards of $10,000,000.
Types of Luxury Properties in The Bahamas
Bahamas Luxury Beach Homes
Luxury beach homes at some of the best beaches in the world is a Bahamas reality. With so many breathtaking, pristine beaches, The Bahamas is the perfect place to find the luxury beach home of your dreams.
Price Range: $1,500,000- $15,000,000+
Where to find luxury beach homes in The Bahamas: Check out Better Homes and Gardens MCR Bahamas to find the best Bahamas luxury beach homes.
Waterfront Luxury Properties in The Bahamas
You’ll find an array of waterfront properties in The Bahamas. Waterfront properties refer to homes that are adjacent to water and allow direct access to the water. Waterfront doesn’t refer to just a beachfront home, it can also refer to ponds, rivers, and other waterways.
Price Range: $500,000- $10,000,000+
Where to find luxury waterfront properties The Bahamas: Head to Better Homes and Gardens MCR Bahamas to find the best waterfront luxury properties in The Bahamas.
Luxury Condos in Bahamas
You can’t beat the luxury condos available in The Bahamas. With stunning views and wonderful amenities, like state-of-the-art fitness centers and modern infinity pools, why would you ever want to leave home? You can even find condos near some of the best golf courses, a true golf lover’s dream!
Price Range: $500,000 – $8,000,000+
Where to find the best luxury condos in The Bahamas: Check out the listings at Better Homes and Gardens MCR Bahamas to find Bahamas luxury condos.
Homes in Luxury Communities in The Bahamas
Luxury communities have a lot to offer in The Bahamas. From gorgeous golf courses, some within close proximity to the best international schools and some of the safest places to live in The Bahamas, you are sure to find a specular home here.
Price Range: $1,000,000 – $25,000,000
Where to find in The Bahamas: Find luxury community homes with the team at Better Homes and Gardens MCR Bahamas.
Private Islands in The Bahamas
What’s more luxurious than your own island? If you value privacy and being surrounded by natural beauty, a private island in The Bahamas can be a perfect fit. You can surround yourself with the ultimate luxurious experience and beauty by owning a private island in The Bahamas. Imagine waking up everyday to be greeted by the crystal blue waters that surround your very own tropical oasis?
Price Range: $5,000,000 – $50,000,000
Where to find private islands in The Bahamas: To find private islands for sale, head to Better Homes and Gardens MCR Bahamas.
How to Purchase a Luxury Home in The Bahamas
As you begin your search for your luxury home in The Bahamas, you’ll want to consider a few things first.
- Find your ideal property: There are many amazing choices when it comes to finding your luxury home in The Bahamas. Not all properties are created equal so finding something that fits your wants and needs should be something you really consider first as the first step in your search. The expert agents at MCR Bahamas can help assist you in finding the best place for you to live in The Bahamas. Are you interested in being close to the beach? Perhaps you prefer an exciting, city-like setting? Then examine what type of home fits what you want and need. Your luxury home might be located near some of the best golf courses, marinas, or fisheries in the area.
- Think about a mortgage or loan: There are many reputable banks that offer loans to residents and foreign buyers in The Bahamas. So whether you’ve been saving up for a home in The Bahamas or are a first-time home buyer, it may be something you may want to examine to see what may work out best for you. Getting pre-approved for a mortgage definitely has its perks. For example, cash buyers may be given discount benefits on the asking price for the property they’re interested in.
- Submit your offer: Once you’ve started your search, either in person or remotely, MCR Bahamas can help you find your dream home. The knowledgeable agents at MCR Bahamas will make sure you are getting the most favorable terms, ensuring that the process of finding your home will be enjoyable and as stress-free as possible.
- Possibly seek help from a local law firm: If you really want to ensure you have peace of mind through the process because you are unfamiliar with local laws, seeking advice from local lawyers may be something to consider.
What to Know about Purchasing Luxury Properties and Homes in The Bahamas
As you begin your journey to find the best luxury property in The Bahamas, it’s important to prepare yourself in regards to what to expect so you can be fully informed and know what to expect.
Property Taxes
There is a requirement to pay an Annual Real Property Tax according to the value of your property. The calculations are as follows:
Owner-occupied properties:
- For the first $250,000 of market value: 0%
- For the next $250,000 up to $500,000 of market value: 0.625%
- For the next $500,000 up to $5,000,000 of market value: 1%
- For the part above $5,000,000 of market value: 0.5% (capped at $50,000 p.a.)
Unimproved properties:
- For the first $7,000 of market value: $100
- For the part above $7,000 of market value: 2%
Other properties:
- For the first $500,000 of market value: 1%
- For the part above $500,000 of market value: 2%
Laws & Permits
The Bahamas does not require licenses or permits in order to purchase property which sets it apart from other Caribbean Islands. However, there may be some exceptions for certain circumstances for example if you are purchasing a larger property or the space is being purchased to rent or develop commercially like an investment property.
The International Persons Landholding Act outlines how non-Citizens can purchase and own property in the Bahamas. The act requires all foreigners who plan to lease their properties out to register with the Bahamas Investment Authority.
The fees include:
- Application fee: $25.00
- Application for permit: $25.00
- Permit: $500
- Certificate of Registration:
- For $50K or less: $50.00
- Between $50K & $101K: $75.00
- More than $101K: $100.00
Types of Properties
Luxury real estate property types you can expect to find in The Bahamas are as followed:
- Apartment
- Commercial
- Condominium
- Co-op
- Land
- Multi-Family Home
- Other Residential
- Private Island
- Single Family Home
- Townhouse
- Waterfront
Conclusion: Find Bahamas Luxury Homes for Sale in The Bahamas
It’s easy to see why The Bahamas is a sought-after place to buy a home. Aside from the pristine beaches, relaxed lifestyle, and great education opportunities, The Bahamas offers some of the best luxury real estate homes that you can find. The mix of elegance, luxury and easy-going lifestyle make for the ultimate destination to set down roots.
Looking for a luxury home in the Bahamas?
Contact us today so we can help!