Nassau, Bahamas— When Canadians look for a place to fly south for the winter, they increasingly look to the Bahamas and invest in Bahamas real estate.

Rachel Pinder, principle broker of Island Living Real Estate, a Nassau and Eleuthera Bahamas real estate agency, said she has seen a steady increase in Canadian investors in the past several months.

Most inquiries are for private homes and condominiums in gated communities.

“It’s not just with Island Living Real Estate,” said Pinder, whose company lists Bahamas homes for sale. “Within the entire real estate community, there have been more sales to Canadian buyers in the last four to six months, and most of the inquiries we are getting now are from Canadians interested in Bahamas property.”

Canadian buyers are interested in the investment opportunities available, she said. Many of them purchase real estate that they can use as a vacation getaway and allow the property to be rented out as a source of income when they aren’t using it.

For sellers looking to benefit from increased Canadian interest in the Bahamas, it is important to show proof of a healthy return on the investment property, since this is such an important factor in whether a home buyer purchases a particular home.

“It is a given that a home with a steady rental history boosts confidence for potential buyers, while property that has sat dormant for a period of time may be viewed as an indicator that rentals in that particular area are down,” Pinder said. “We assist Canadian buyers by conducting research on rental history to help them in the decision-making process.”

Many Canadian investors seek purchasing opportunities in gated communities because these communities offer a community lifestyle with a chance to meet new people and gain lifelong relationships.

Luckily for the interested Canadian, The Bahamas welcomes foreign investors. The International Persons Landholding Act automatically approves purchases of residential property by foreign investors, as long as the property is less than five acres on a single island in The Bahamas. Exceptions to this approval are properties that occupy more than half the land area of a small island or a cay, and property that includes an airport or a marina.

Another attractive benefit to Canadian investors is that if they are looking to purchase vacant land and build a home on it,  the IPLA exempts foreigners from being required to pay real property tax for up to two years on such purchases, as long as the investor begins developing the property during that two-year period.

Tips for Canadian Investors
Pinder has some advice for Canadians interested in owning their own little piece of Bahamian sun, sand and surf.

First, she said, is to research the market.

“If it’s feasible for investors to do so, they should visit the island where they are looking to make a purchase, observe the neighborhood, look into utility costs and consider the available transportation to and from the island,” Pinder said. “If they can’t do these things themselves, it is wise to hire a reputable Realtor who can conduct this research for the buyer.”

When it comes to rental questions, investors should contact leasing offices and property management companies to gather information about current housing trends.

When the opportunity is available to do so, Pinder also recommends purchasing Bahamas real estate at the beginning of a new development project.

“Before making the purchase, however, it’s a good idea to talk to a Realtor in the area who can confirm whether the developer has a good track record with regard to keeping development promises,” Pinder said.

Learn More
If you would like to learn more about opportunities for purchasing Nassau, Bahamas rental properties or other Bahamas real estate, contact Island Living Real Estate by visiting the agency’s website: http://www.islandlivingrealestate.com.

About Island Living Real Estate
Rachel Pinder is the principle broker of Island Living Real Estate. Along with her team of brokers, Hazel Wicky, Brenda Knowles, Anthony Wells and Heather Carey, the company has more than 25 years of experience in real estate sales and development throughout the Bahamas. Island Living has Realtors available to assist buyers and sellers with all their real estate needs.

Island Living’s main office is located in one of Nassau’s oldest historic buildings on Bay Street, named “Red Roofs.” Red Roofs was built in 1896 and has been home to various families, a Gourmet Deli and now Island Living.

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