The Bahamas is known for its multiple islands, luxury communities, and stunning real estate offerings. Although The Bahamas is lauded as one of the best vacation spots in the world, it’s also a fantastic place to live.
Some love the islands so much, they want to buy an entire private island in The Bahamas. Others prefer to live in big cities, like Eleuthera and Nassau, or islands like Abaco and Spanish Wells. No matter what type of real estate you’re looking for, The Bahamas has something for everyone.
In this article, we’ll go over everything you need to know about real estate and island living in The Bahamas.
Cost of Living in The Bahamas
The average cost of living in The Bahamas fluctuates, depending on where you’re located, the type of property you own or rent, and several other factors. That said, living in The Bahamas is surprisingly affordable, especially compared to the cost of living in the United States.
The average cost of living for a single person in The Bahamas without rent is around $1,400 a month. The estimated monthly cost increases to around $5,000 per month for a family of four. The average cost of rent in The Bahamas is around 8% lower than in the United States.
Life in The Bahamas
Living in The Bahamas is about as close to paradise as you can get. The weather is almost always fantastic, the waters are crystal clear, and there are endless opportunities for adventure and relaxation that everyone in your family can enjoy. Here is a more detailed look at life in The Bahamas.
Quality of Life
The Bahamas government and leaders have created Healthy Lifestyle Initiatives, in an effort to increase health standards and life expectancy for island locals. These initiatives were created to reduce illness, disabilities, deaths, and other health issues caused by unhealthy lifestyles. The Ministry of Health in The Bahamas works tirelessly to ensure all the islands’ inhabitants are as healthy and happy as possible.
Education
The Bahamian islands are known for their commitment to education. The school systems throughout the islands have an excellent literacy rate of 95%. Several people travel to The Bahamas to continue their education and gain hands-on experience through the Bahamas’ innovative teaching program. Communities like Dunmore Town on Harbour Island offer several private schools and education for their residents.
Healthcare
In recent years, The Bahamas has focused on improving the healthcare standards of the islands. The Bahamas government has created new hospitals and healthcare facilities throughout the islands, as well as offering high-quality care for locals.
Culture
Bahamian culture beautifully merges African and Caribbean cultures with hints of British influence. Music, dancing, and festivals are a normal occurrence. From food inspired by the islands’ natural resources to family-owned businesses throughout the cities and towns, The Bahamas is rich with culture.
Things to Do in The Bahamas
The Bahamas is known for its crystal-clear waters, pristine beaches, and cultural events that occur throughout the year. Here are a few activities and events one can experience in The Bahamas.
- Visiting resorts
- Swimming, snorkeling, and fishing in the oceans
- Chartering a yacht or private boat
- Island hopping
- Exploring the pink and white sand beaches
- Visiting world-class golf courses
Best Luxury Communities to Buy Bahamas Real Estate
The Bahamas is home to many luxury communities throughout its islands. Each luxury community offers its residents and guests a different Bahamian experience. Here are a few of the most popular choices.
1. Lyford Cay
Lyford Cay is one of the most exclusive communities in The Bahamas. Named after Captain William Lyford Jr., the community was initially a gift from King George III in 1788. Now sitting on the western edge of New Providence Island, the luxury community and club offer amenities, recreational opportunities, and stunning views to guests and residents.
Homeowners in Lyford Cay can visit the 71-slip yacht harbor or the state-of-the-art tennis and golf courses at their leisure.
Explore Rodland Real Estate’s luxury listings on Lyford Cay!
2. Ocean Club Estates
The Ocean Club Estates are a part of a Four Seasons Resort in The Bahamas. Originally built in 1962, this Caribbean Hideaway is located on one of the white-sand beaches on Paradise Island.
Guests can partake in wellness activities, fitness classes, seaplane tours, or ocean expeditions in the crystal-clear water at The Bahamas Ocean Club. Although Ocean Club Estates real estate is heavily sought-after, it offers diverse accommodations for everyone.
3. Albany
The Albany community in The Bahamas is one of the most well-known luxury communities on the island. With countless accommodations, hundreds of waterfront and marina-facing properties, and beautiful golf courses, it’s no wonder people travel from all over the world to visit and live in Albany’s community.
This 600-acre community is a hub for business people, celebrities, and families seeking the best The Bahamas real estate has to offer.
Check out Rodland Real Estate’s properties available in the Albany community.
4. Sandyport
Unlike other luxury resort communities, Sandyport typically serves year-round homeowners, rather than vacation renters. The stunning community is located on the northwestern end of Cable Beach in Nassau. Sandyport has some of the best real estate in Nassau, with its candy-colored Georgian Colonial houses.
Although the quintessential beach community is mostly quiet, it has all the luxury amenities and necessities required for island living.
5. Paradise Island
Paradise Island and Nassau are two of the most populated and lively areas in The Bahamas. These two cities offer their guests and residents endless opportunities and activities. With endless dining options, world-class resorts and hotels, and various island experiences, it’s no surprise that so many want to own real estate on Paradise Island.
Call Paradise Island your home when you partner with Rodland Real Estate!
6. Port New Providence
Port New Providence is the perfect home for ocean lovers. The majority of real estate in this luxury community is waterfront, either facing the stunning marina or the gorgeous ocean. Located just outside of Nassau, this picture-perfect community offers homeowners unfettered access to the stunning Bahamian waters.
Types of Bahamas Real Estate Properties
Whether you’re looking for a spacious multi-family home or a luxurious condo, The Bahamas has the perfect future house for you.
Homes & Villas
Condos and apartments are a great way for people and homeowners to enjoy life in The Bahamas without having to invest in a large property. Apartment complexes often provide residents with amenities they don’t get access to in houses, such as fitness centers and pools.
Browse Rodland Real Estate’s selection of luxury condos here!
Private Islands & Lots
If you like the idea of island life but haven’t found the house of your dreams yet, why not build it? The Bahamas’s natural geography offers several vacant lots throughout its many islands and cays, ready for someone to build their ideal home. Several luxury communities and larger islands have empty lots throughout their neighborhoods.
Bahamas Real Estate Rentals
Whether you’re interested in renting a property before buying it, or you’d like to experience the unique lifestyle of The Bahamas before you move to the stunning islands, consider renting a house! Renting property in The Bahamas is a great way to introduce yourself to island living before taking the plunge and investing in the property.
How to Buy Real Estate in The Bahamas
Buying real estate in a new country and territory can often seem daunting. If you’re curious about how to buy real estate in The Bahamas, here is a step-by-step guide that might help.
Step 1: Establish a budget
The first step one should take before investing or looking at property in The Bahamas is to establish a budget. The Bahamas offers endless real estate opportunities for potential homeowners and renters, so knowing what your budget is can help clarify what kind of properties and locations you can look into.
Step 2: Choose your location & property type
Once you have a set budget, you can start to think about what kind of home you want to buy. The Bahamas has several exclusive communities and beautiful towns surrounding them. All of these communities and towns offer unique real estate options, including waterfront properties, exclusive villas, and stunning locations. Each island, cay, and city in The Bahamas provides a different experience for residents and guests. All you have to do is decide what you want your future home to be.
Step 3: Work with the best Bahamas real estate agency
If you’re interested in buying real estate in The Bahamas, partner with a trusted real estate agency that understands the ever-changing market in The Bahamas. Rodland Real Estate offers its private members an exclusive look at off-market properties in The Bahamas that are not available on the open market. The company caters to every individual’s needs, as real estate is not a one-size-fits-all solution.
Call Rodland Real Estate and find your perfect home in The Bahamas today.
Learn More About Bahamas Real Estate
Here are a few answers to the most frequently asked questions about real estate in The Bahamas.
Is it smart to buy property in The Bahamas?
Buying property in The Bahamas is one of the wisest real estate investments one can make. The real estate market is booming in The Bahamas, as millions of tourists and prospective buyers visit the island every year, allowing homeowners and renters to profit about 8% annually.
This amount can increase or decrease substantially, depending on the island or city where you choose to purchase an investment property. Real estate in cities like Nassau are often rented out at a higher rate than smaller cities in The Bahamas. Because The Bahamas is tax-friendly, investments on the islands are only continuing to grow.
Can a US citizen buy real estate in The Bahamas?
Many U.S. citizens choose to invest in real estate in The Bahamas. Not only are homes in The Bahamas the perfect spot to vacation, but they also provide a fantastic return investment.
How much money do you need to live comfortably in The Bahamas?
The average cost of living in The Bahamas fluctuates, depending on where you’re located, the type of property you invest in, and the lifestyle you want. While living in The Bahamas provides free access to luxury amenities, like private beaches, stunning nightlife, and fantastic real estate opportunities, it isn’t necessarily cheap.
Individuals can expect to spend a little over B$3,000 a month in estimated monthly costs. Families of four should budget for closer to B$6,463 in monthly expenses. These additional expenses do not include rent or mortgage payments. Of course, this number fluctuates, depending on where you live on the islands.
What are the legal considerations when buying property in The Bahamas?
As is the case with every large investment, those who want to buy property in The Bahamas should consult a lawyer or an attorney to assist them in the process. While you do not have to be a Bahamian citizen to invest in real estate in The Bahamas, applying to buy property can be a lengthy process. The Government of The Bahamas has an application for permission to purchase or acquire real estate on its website if you would like to reference that as well.
Invest in Bahamas Real Estate for Luxury Living
Invest in Bahamas real estate and experience luxury like never before. With endless options of homes, estates, condos, and apartments, individual buyers and families can find their perfect future home with ease. Not to mention, The Bahamas is home to several luxury gated communities throughout its islands, making it the perfect place to escape reality and embrace the vacation lifestyle.
If you’re ready to invest in luxury real estate in The Bahamas, consider working with Rodland Real Estate. The team at Rodland approaches The Bahamas’ unique and ever-changing real estate market in a new way. They provide their buyers with exclusive access to luxury real estate listings before they hit the mass market.
Those who partner with Rodland Real Estate find their dream home on their ideal island or community before anyone else. The local team at Rodland understands the real estate market in The Bahamas because they’re rooted on the island.
Call Rodland Real Estate today and search through private listings in The Bahamas.