Bahamas Property Fund – Buying a Property in the Bahamas
If you are looking for a vacation home or investment property in the Bahamas, you have come to the right place. This archipelago of hundreds of islands is known for its breathtaking beauty, great tax rates, world-class golf, spas, and shopping. It also has some of the most luxurious homes in the Caribbean.
The Bahamas Property Fund is led by Larry Roberts, who has been in the real estate industry for over 50 years. He is a licensed broker and past president of the Bahamas Real Estate Association and the Society of Industrial & Office Realtors. Previously, Roberts served as the CEO and managing broker of NAI Bahamas Realty Commercial. He is an expert in commercial real estate and has extensive experience in negotiating sales and leasing.
Taxes on Bahamas property transactions are modest, requiring buyers to pay about ten percent of the net price. The fees include government stamps on the conveyance, legal fees, recording fees, and real estate agent commissions. Buyers and sellers must retain legal counsel before finalizing the transaction. Property taxes in the Bahamas are waived for Bahamians in the Family Islands and for property that is approved for use as commercial farm land.
Bahamas property taxes vary depending on the type of property. It is assessed on the value of real estate, including buildings, land, and improvements. However, there are some exemptions. The exemptions are not automatic. You must fill out an Application for Tax Concession to be eligible for a tax concession. When buying a property in the Bahamas, it is important to research the property’s history and ensure that all documents are accurate.
While buying a property in the Bahamas may seem a little complicated at first, it can be an exciting investment. The Bahamas has a strong tourism industry, which makes it attractive for investors. There are also strong rental yields. As the tourism industry grows, the Bahamas is regaining its former glory. With the help of a range of development projects and financing options, the Bahamas is now accessible to many people who are interested in owning real estate.
As far as island property prices go, prices in the Harbour Island area of The Bahamas continue to be highly desirable. harbour island bahamas real estate In recent weeks, the island has been featured on HGTV, America’s leading lifestyle program. The neighbourhoods featured in the show include Sandy Hill, Pink Sands, Valentine’s Resort, Fort Point, and La Tortuga. Currently, there is a major restoration project underway at the Strawberry House on Lyford Cay.
The Bahamas is known for its beautiful scenery, and its friendly locals. Its tax system and relaxed lifestyle make it a desirable investment option for Americans. It also boasts a stable and growing economy based on tourism.