Business

The State Of Real Estate

NASSAU, BAHAMAS – The BREA president and a local real estate agent gives key information on investing in the real estate market.

Published

2 years ago

November 20, 2022

Marlena Leonard

NASSAU, BAHAMAS – Post-pandemic, many islands of our archipelago have seen an increase in those flocking to find their piece of paradise in a world where remote work has become more acceptable. The BREA president and a local real estate agent gives key information on investing in the real estate market.

In a recent interview, President of The Bahamas Real Estate Association, Nikki Boeuf, shared with us that Grand Bahama, while not at the top of the list of islands having a post-pandemic boom, has not gone unnoticed by prospective buyers.

We met up with Grand Bahamian real estate agent, Alex Thompson to get her perspective of the situation on the ground. She tells us some buyers have been so enthusiastic that they’ve made purchases before ever actually stepping foot on Grand Bahama.

However, Thompson shared that, in her experience, the market’s main issue is a result of the loss of so many of the more affordable rental properties after Hurricane Dorian. She says that inventory for rentals under $1000 a month is still a struggle.