GB Housing Shortage Spurs Investment Opportunity

Advertisement

GRAND BAHAMA, BAHAMAS – Kiara Jones is the managing partner of Keys Bahamas Realty and she believes Grand Bahama is in a housing shortage driven by growing demand and limited supply. 

Her brokerage firm specIalizes in buying, selling, and leasing properties.

She says major developments like Carnival’s highly anticipated Celebration Key, set to open this July, is driving increased interest. 

But the housing shortage isn’t just a new issue. 

Hurricane Dorian’s destruction forced many homeowners to become renters compouned by the construction slow-down form COVID-19. 

With few new homes being built, inventory is low. 

And this is where the opportunity lies. With hundreds of millions in investments expected with the expansion of the Grand Bahama Shipyard and the Western Atlantic School of Medicine. 

And for investors, the timing couldn’t be better. 

According to Jones, Nassau’s skyrocketing housing prices, with single-family homes reaching hundreds of thousands and decent rentals starting at $1,500, are driving many to consider Grand Bahama as a more affordable alternative.

But will opportunity deliver this time? 

If the devastating storms and economic hardships have taught them anything – it’s not to wait on promises. 

With a housing shortage, an impending surge in new business and property values on the rise, the question isn’t just if Grand Bahama is ready for a comeback but whether investors are ready to take advantage of it?