Engel & Völkers has now opened its first residential property shop in the Bahamas. This marks the second location for Engel & Völkers in the Caribbean, alongside the Cayman Islands. “The Bahamas is one of the world’s top destinations for first and second homes, thanks to the warm year-round climate and the incredible natural environment,” said Colin Lightbourn, Managing Partner of Engel & Völkers in the Bahamas. He manages the residential property shop, drawing on his many years of experience brokering real estate within the archipelago.
The residential property shop is centrally located on Bay Street in the capital Nassau on the island of New Providence. Colin Lightbourn and his team are specialised in the sale and rental of premium residential properties in Nassau/ Paradise Island, in the Abacos and the Exumas, as well as on Eleuthera and in Harbour Island. “Our clientele includes both private and institutional buyers from abroad. Local buyers are also increasingly investing in residential property, with interest in earning rental incomes from holiday guests,” said Colin Lightbourn.
Top prices for homes with direct beach access
The property market in the Bahamas enjoys a high level of demand. In addition to the idyllic beaches and exceptional lifestyle the area offers, buyers are drawn to the economic stability, the high level of security and the convenient flight links to the island nation. Prime locations for properties can be found on Paradise Island, Harbour Island, and in Old Fort Bay on New Providence. Asking prices here can reach up to 25 million US dollars (approx. 20.1 million euros) for exclusive mansions directly on the coast with private beach access. The price bracket is similarly high for prestigious homes with direct canal frontages and a private boat dock. Entry prices for older properties without sea or canal views in these prime locations range from 400,000 to 3 million US dollars (approx. 335,000 – 2.5 million euros).