Bahamas Real Estate To Get Boost From Baha Mar's Development
Bahamas Real Estate To Get Boost From Baha Mar's Development
The Bahamas real estate market is expect to receive a substantial boost as a result of the recent Bahamas Government approved $2.6 Billion resort development proposed by Baha Mar.
The development is scheduled to open in early 2014 and will be the largest single phase development in the Caribbean, covering some 1,000 acres and adding 3,000 new hotel rooms and 300 condominium residences on Cable Beach, New Providence.
Breathing new life into the Cable Beach tourism product by creating a first class resort representing prestigious collection of major brand hotel and re-establishing the Bahamas as a premier tourist destination in the world.
The project represents a new era of tourism and economic development, and will change the luxury real estate market in Cable Beach an already popular luxury residential community on New Providence.By immediately increasing demand in an already hot luxury rental property market and spawning new developments.
Since there is no doubt that with the 6000 to 7000 new permanent jobs the project would be created Bahamas real estate developers can expect increased demand for new housing and the resulting in a number of new developments.
A demand that will surely excite not only the financial sector, but invoke their participation, because there is would now be a growing list of qualified buyers with the income levels to buy new houses.
Baha Mar's developments will also attract international real estate investors who are interested in buying Bahamas real estate for second homes or prestige real estate investments.
As Cable Beach is a community within 2 hours from most U.S. cities, less than 10 minutes from Lynden Pindling International Airport and 12 minutes from the famous Bay Street, making it the ideal getaway and a draw to large real estate investors.estate.
Making an historically strong Bahamas real estate market even stronger by provide sustained growth and leading to continued increase in property values in a market that is already considered one of the most expensive in the world.