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Housing Minister: Government Aims to Address Housing Crisis

NASSAU, BAHAMAS – The International Monetary Fund’s report has once again brought the housing crisis in The Bahamas into sharp focus.

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NASSAU, BAHAMAS – The International Monetary Fund’s report has once again brought the housing crisis in The Bahamas into sharp focus.

According to the IMF, The Bahamas faces a shortage of affordable housing, as many properties are now being used for short-term rentals rather than long-term residences. 

This trend has made it increasingly difficult for Bahamians to own homes. 

Housing Minister Keith Bell addressing this pressing issue providing an update on the government’s strategy to overcome the challenge.

Bell stressing that the government is focusing on construction across the country.

The government is relying on the rent-to-own program as a key component to help Bahamians become homeowners.

Under this initiative, individuals who may not have a large down payment or are earning minimum wage can still qualify for homes by making manageable payments over time

Bell also addressed the challenges of consumer debt, noting that many Bahamians are burdened with high levels of borrowing, which makes it harder for them to qualify for home loans.

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