If you’re looking to invest in property, the Bahamas is a great place to invest. The country boasts an investor-friendly tax regime and a well-developed real estate market. In addition, the country is home to some of the most luxurious properties in the Caribbean. The Bahamas is a breathtaking archipelago with hundreds of islands, dotted with beaches, world-class golf courses, world-class shopping and world-class spas.
Property taxes in The Bahamas are low, and foreign buyers are permitted to buy property as long as they are not residents of the country. Property taxes are 1% of the property value. The only tax on property valued over $500k is the stamp duty, which is split between the buyer and seller. Foreigners can also own free-title real estate in The Bahamas.
Purchasing property in The Bahamas can be a challenging process, but it is possible to get financing. It is important to check with a mortgage broker and understand what type of mortgage you can qualify for. If you plan to purchase property over $2 million, you might want to work with a mortgage broker specializing in the Bahamas. The broker will talk you through your options and answer any questions you may have.
If you’re interested in buying luxury property in The Bahamas, a place to start your search is Eleuthera. This island is known for its white sandy beaches and rolling countryside. The rich and famous often spend time on this island, so the real estate market is booming. harbour island real estate Eleuthera real estate prices have increased notably, particularly on Harbour Island. The company Lightbourn Realty offers offices on both the mainland island of Eleuthera as well as satellite cays.
When purchasing property in the Bahamas, it is important to understand the tax structure. The government of The Bahamas imposes a Value Added Tax (VAT) of 7.5% on all real estate transactions. The tax is shared by the buyer and seller. For residential properties, the first $250,000 is tax-free. For properties between $250,000 and $500,000, the tax rate is 0.75% of the market value. If you buy a property over $500,000, you will have to pay the equivalent of one percent of the market value, which means you will pay an extra 1.5% per annum.
The Bahamas is home to many different islands. Each island is different and has unique features, but there are some commonalities among them. The Spanish Wells island, for example, is the most laid-back and quiet, while Harbour Island and Eleuthera have more lively lifestyles. Regardless of where you want to buy your property in the Bahamas, you’ll have an excellent selection.
If you’re looking for a property in The Bahamas, you might want to consider the Sunset Harbour Estate. This 36-unit complex commands a spectacular harbour view and is located in a peaceful cove. The complex boasts a common swimming pool and common areas. In addition, the property includes a full-time Estate Manager and maintenance staff.