2nd Home Buyers are Welcomed in the Bahamas
This week, BahamaIslandInfo ran an article about 2nd home buyers in the Bahamas, basically saying the government is supporting them and developments to attract this market segment. The introduce a new company, Barefoot Locations, which helps coordinate rentals, deals with utilities and maintenance, makes arrangements for repairs and monitoring, and general property management services for non-resident owners.
“People come to the Bahamas to live, to vacation, to retire and to invest. Some are leaving behind tax regimes and others are looking for new investment opportunities. The Bahamas offers a warm climate, a stable government, most technical standards of North America (e.g. electrical), and is in convenient close proximity to millions of people.
“Kerzner spent over $200 million to build nearly 500 vacation homes on Paradise Island targeting second-home buyers. Ginn Sur Mer is intended to attract thousands of second home buyers to its 2,000 acre site in Western Grand Bahama. Abaco boasts hundreds of homes owned by second home expatriates.
“Our government recognises the importance of second home buyers, even creating an investment incentive offering residency to anyone investing half a million dollars into a home in the Bahamas…
“Many second home buyers have a few challenges to meet when they own a home or condo in the Bahamas. Their property (and vehicles and/or boats) need to be checked regularly. Maintenance needs to be carried out. Tenants need attention. Utility and maintenance bills need paying and checking. And when they are returning to the island for their short- or long-term visits they often need help stocking the cupboards and reactivating services that may have been dormant in their absence.”
So Barefoot Locations was re-launched. Read about their services and the importance of 2nd home buyers on BahamaIslandsInfo.