Real Estate in Paradise Island, Bahamas

"There are many rental and housing options available in Paradise Island. You can head to a rental agency or visit local real estate websites to start your search. It is also possible to find furnished short-term lodging through Airbnb or other short-term rental websites. You can also check notices posted at public locations in the area such as churches, bus stops, convenience stores, and post offices. Networking with friends and family living in Paradise Island may help as well as asking locals for referrals on accommodations," said one expat who made the move to Paradise Island.

"We used a couple online real estate agents: Dupuch and Paradise Island living. Looking for anything on Paradise Island close to Atlantis," explained one foreigner living in Paradise Island, Bahamas.

"It is like an old beach house transformed into everyday living. They are all sharing walls but not duplexes or town homes. Similar to a one story condo. Several expats live in the area," remarked one foreigner who made the move to Paradise Island.

"A typical expat home or apartment on Paradise Island would typically be a luxury residence featuring spacious, modern interiors and expansive outdoor living areas. Amenities can include swimming pools, outdoor barbeque areas, gymnasiums, tennis courts and other facilities. Located close to the beaches on the tropical island, many homes also boast spectacular views of the ocean and lush greenery. With easy access to excellent bars and restaurants, shopping centers, spas and other recreational activities, Paradise Island is the ideal place for luxury expat living," explained one person living in Paradise Island, Bahamas.

"The average cost of housing in Paradise Island varies depending on the type of housing desired, but generally ranges from moderate to expensive," said one expat in Paradise Island.

"Rent is about the same but utilities far surpass what we were paying in UAE. That says a lot. I'd say average power bill is $500 month with summer months peaking at $750 and water bills average $150. We do have a private small pool which adds to the cost of both," remarked one member in Paradise Island.

"When deciding whether to buy or rent a home in Paradise Island, there are many factors to consider. Renting gives you the flexibility to move quickly and easily when needed as well as not having to worry about maintenance and repairs. On the other hand, buying a home in Paradise Island provides you with an asset that can appreciate in value, as well as possible tax benefits, and a sense of permanency. Ultimately the best decision for you will depend on your financial situation, budget, and long-term goals," explained one person living in Paradise Island, Bahamas.

"1. Research the local real estate market: Familiarize yourself with the property types, prices, and locations available on Paradise Island to make an informed decision. 2. Hire a local real estate agent: A knowledgeable agent can help you navigate the buying process, negotiate the best deal, and ensure you comply with local laws and regulations. 3. Understand property ownership options: In the Bahamas, you can purchase property as a freehold or leasehold. Freehold ownership grants you full ownership rights, while leasehold ownership grants you the right to use the property for a specified period. 4. Obtain necessary permits: Non-Bahamians must obtain a permit from the Bahamas Investment Authority (BIA) before purchasing property. Additionally, you may need other permits depending on the property type and intended use. 5. Consider financing options: If you require financing, explore options from local banks and financial institutions, as obtaining a mortgage from a foreign bank may be challenging. 6. Be aware of taxes and fees: When purchasing property in Paradise Island, you'll need to pay stamp duty, legal fees, and real estate agent fees. Additionally, property owners are responsible for annual property taxes. 7. Conduct a thorough property inspection: Before finalizing the purchase, have a professional inspect the property to identify any potential issues or necessary repairs. 8. Understand the closing process: The closing process in the Bahamas typically involves signing a sales agreement, paying a deposit, obtaining necessary permits, and transferring the title. 9. Plan for property management: If you intend to rent out your property or use it as a vacation home, consider hiring a property management company to handle maintenance, repairs, and tenant relations. 10. Familiarize yourself with local customs and culture: To fully enjoy your property in Paradise Island, take the time to learn about Bahamian customs, culture, and lifestyle. This will help you integrate into the community and make the most of your investment," explained one person living in Paradise Island, Bahamas.

"Yes, foreigners are allowed to own property in Paradise Island. The government of the Bahamas encourages foreign investment in real estate, and there are no restrictions on foreign ownership of property for personal use. However, non-Bahamians must register their property with the Foreign Investments Board and obtain a permit from the Bahamas Investment Authority if the property is more than five acres or if it will be used for commercial purposes. Additionally, non-Bahamian buyers may need to obtain a certificate of registration from the Central Bank of the Bahamas for the purchase to be considered a valid investment," explained one person living in Paradise Island, Bahamas.

"In a rental property in Paradise Island, you can typically expect to find essential appliances such as a refrigerator, stove, oven, microwave, and dishwasher. Additionally, some properties may also include a washer and dryer, air conditioning units, and ceiling fans. However, the specific appliances included may vary depending on the individual property and the landlord's preferences," explained one person living in Paradise Island, Bahamas.

"Expats searching for homes in Paradise Island may begin by browsing online real estate websites and portals that specialize in Bahamian properties. They can also reach out to local real estate agents who have expertise in the area and can provide personalized assistance in finding the perfect home. Additionally, expats may join social media groups and forums dedicated to living in the Bahamas, where they can ask for recommendations and advice from fellow expats and locals. Visiting Paradise Island in person and exploring different neighborhoods can also help expats get a feel for the area and find potential homes for sale or rent. Networking with other expats and locals can also lead to discovering available properties that may not be listed online," said one foreigner living in Paradise Island, Bahamas.