Real Estate in Bahamas
Last updated on Mar 22, 2023
Summary: An expat looking to buy a home in the Bahamas should begin by researching the different areas of the country and the types of properties available. They should also consider their budget and the type of amenities they are looking for. Popular areas for expats include Nassau, Grand Bahama, and the Out Islands. Homes in the Bahamas typically include amenities such as swimming pools, private beaches, and outdoor living spaces. Many homes also feature modern kitchens, spacious bedrooms, and luxurious bathrooms. Foreigners are allowed to purchase property in the Bahamas, but there are certain restrictions. For example, foreigners must obtain a permit from the government before they can purchase property. Additionally, foreigners are not allowed to purchase property in certain areas, such as the Family Islands.
How do I find a place to live in Bahamas?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"We use a real estate agent. We choose the western side of the island, no traffic! But of course it depends where your office is located," remarked one member in Nassau.
"The best way to find a place to live in the Bahamas is to use an online real estate listing site such as Propertyskipper or Bahamas Realty. You can peruse both of these websites to find places that match your budget, desired location and size. Additionally, it is possible to come to the Bahamas and look at locations in person. There are frequently notice boards in grocery stores and other places around the islands that advertise available properties. It is also advisable to seek out any information regarding rentals on social media platforms such as Facebook, where locals post details of their homes and apartments that they would like to rent out," explained one expat living in Bahamas.
Get Quote
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
Get Quote
What is a typical expat home or apartment like in Bahamas?
"A typical expat home or apartment in Bahamas is likely to feature bright and airy rooms with large windows, high ceilings, and modern, contemporary furnishings. Apartments can range from modest to lavish, usually featuring fully-equipped kitchens, outdoor areas, and spacious living and dining areas perfect for entertaining. Many homes also feature stunning ocean or bay views, with lush, manicured gardens and spectacular outdoor areas for enjoying the pleasant weather and ocean breezes," said one person in Bahamas.
"I live in a gated community with a pool. It's a townhouse style condo and the complex of 20 units is made up almost entirely of expats," remarked one foreigner who made the move to Nassau.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
What is the average cost of housing in Bahamas?
If you are thinking about moving to Bahamas, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in the Bahamas is generally high compared to other countries in the Caribbean. Property prices in Nassau, the largest city in the Bahamas, tend to be above the average cost of housing in the rest of the country. Prices vary widely based on location, property type, and amenities," said one expat in Bahamas.
"Most of the answers on this forum are from people living on New Providence. Look at other islands. You don't need to live in a gated community on Grand Bahama Island. Rent is reasonable compared to large urban areas in the US. The biggest difference is the taxes. No Income tax, no real estate tax (to a point), no inheritance tax. The VAT (10%) is about what most people pay for sales tax in the US. Duty on imported goods can be high, but that is the only downside that I have encountered," remarked one member in Bahamas.
"About the same in terms of rent. Of course, in Bahamas everything comes furnished. You won't find that in Connecticut. ELECTRICITY here is ridiculously expensive," explained one expat living in Nassau, Bahamas.
Should I buy or rent a home in Bahamas?
If you have not spent a lot of time in Bahamas, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Deciding whether to buy or rent a home in the Bahamas depends on a variety of factors. These might include a homebuyer's budgetary constraints, anticipated length of stay, and lifestyle preferences. Buying a home generally involves long-term, hefty investment of time and money, however it can provide a secure base of operations and potential investments benefits. Conversely, renting a home can be a more cost-effective and oftentimes less time-intensive option, making it ideal for those who intend to stay in the Bahamas for a shorter period. Ultimately, which option is best depends on the individual's needs and preferences," remarked one member in Bahamas.
"When we first arrived we purchased a small condo which was rather easy to do. There are a lot of taxes and fess involved and the real estate laws are a little complicated here so it is highly recommended you get a good real estate agent involved and not purchase directly from the seller," explained one expat living in New Providence, Bahamas.
What do I need to know when buying property in Bahamas?
When we asked expats what advice they would give a foreigner before buying a property in Bahamas, they said:
"Above all I suggest renting when you first arrive and take the time to learn the island and make contacts before buying into anything. You will discover that some areas are much more desirable than others. The maintenance cost can also be drastically different depending on where you are located, remember that Nassau is subject to hurricanes and hurricane insurance is quite expensive," said one expat in Nassau.
"When purchasing property in the Bahamas it is important to seek legal advice from a real estate attorney or lawyer who is familiar with the laws and regulations in the country. It is also important to be familiar with the zoning regulations in the particular area which you are interested in purchasing as certain locations may be restricted for use for certain activities. You should also be sure to obtain all necessary approvals from local authorities before making any commitment to purchase a property. It is also important to obtain a proper survey of the property before entering into a contract. You will want to be sure to obtain title insurance to protect your investment. Additionally, it is important to be aware of any income, capital gains and other taxes that may apply when purchasing a property. Finally, you should familiarize yourself with the market prices in the area in order to avoid paying an inflated amount for the property," said one foreigner living in Bahamas.
Are foreigners allowed to own property in Bahamas?
When we asked expats what advice they would give a foreigner before buying a property in Bahamas, they said...
"Yes, foreigners are allowed to own property in the Bahamas. The process of purchasing property in the Bahamas is relatively straightforward and open to foreign buyers. The government has put in place a number of measures to ensure that foreign buyers are able to purchase property in the Bahamas without any difficulty. Foreigners are required to obtain a permit from the government before they can purchase property in the Bahamas. The permit is issued by the Ministry of Immigration and is valid for a period of one year. Once the permit is obtained, the foreign buyer can proceed with the purchase of the property," wrote one expat who made the move to Bahamas.
What appliances are typically included in a rental?
We asked foreigners in Bahamas what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Most rentals are completely furnished with all the main appliances necessary to live. It was hard to find a rental property where we could put our children's room set. Many of the properties are set up for vacationers so much of the furniture is whicker and cheap. A well furnished home is out there, but must be looked for," explained one person living in Nassau, Bahamas.
"A rental property in the Bahamas typically includes a refrigerator, a washing machine, an oven, and a range. Other appliances such as a dishwasher, a microwave, and a dryer may also be supplied depending on the property. High-end rental homes may come with air conditioning units, additional storage, and larger appliances like a wine cooler," remarked one foreigner who made the move to Bahamas.
Additional Information about Searching for a Home in Bahamas:
We asked foreigners in Bahamas what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
" Thre are a lot of real estate companies here. Some of the better ones I have dealt with are: Adam Duncombe of ERA Dupuch Real Estate Marilyn Ayearst-Hartley of Bahamas Islands Realty Gavin Christie of C.A. Christie Real Estate and Claire Thackray of Mccarroll Real Estate Of course that is not to say the rest are all no good but I have come across some shady ones and so prefer to stick with the ones I know are honest and helpful. If you are looking to rent, you probably better off just asking around. Everyone knows people with homes for rent to expats and you will get a better deal not going through a real estate agent, just make sure you have a qualified person look over the lease agreement. If you want to build, speak directly with the builders, ask around to get the names of good ones. If you plan on building in a gated community the association can normally help you with finding a good builder as they don't want poorly developed homes in their community. ," wrote one expat who made the move to Nassau.
"Expats can search for homes in the Bahamas by looking online for real estate listings, contacting local real estate agents, and researching the local housing market. They can also look for expat-specific resources, such as expat forums and websites, to get advice from other expats who have already gone through the process of finding a home in the Bahamas. Additionally, expats can attend local events and meet-ups to network and learn more about the local housing market," explained one foreigner living in Bahamas.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote
Bahamas Forum
Talk with other digital nomads and expats in Bahamas on our Bahamas forum - meet people, get advice and help others.
Contribute
Help others in Bahamas by answering questions about the challenges and adventures of living in Bahamas.
Digital Nomads in Bahamas offer advice about healthcare, hospital visits, emergency rooms visits, finding a doctor and buying health insurance in Bahamas.
Advice for people renting and buying real estate in Bahamas.