JS00057 Ocean Club Estates
Real Estate Review
 Everything You Need to Know About Real Estate in the Bahamas
Issue 2008-01 MARCH 2008


Welcome to HGChristie's March Newsletter


In our first article, "2007 Bahamas Real Estate", we share valuable insights in the most detailed analysis of the Bahamas real estate market, available only from HGChristie.

Our Highlight features exclusive Sky Beach Clubs, Eleuthera, Bahamas' most innovative tropic living choice.

A brisk overview of creating profitable income from your vacation hide-away is presented in our third article, 'Vacation Home Ownerships On The Rise'.

Also, if you are going to be in Nassau on March 15-16, please come visit us at The Bahamas Real Estate Expo at the Wyndham Nassau Crystal Palace Ballroom. For more information, please visit the Real Estate Expo site.

Please enjoy our newsletter! We stand by to be of assistance as you explore the many pleasures of the Bahamas and the great opportunities in Bahamas home ownership.

Johnsig

 
 
 
 

John ChristieCGE logo
H.G. Christie Ltd.
2007 Bahamas Real Estate Market
A Statistical Analysis for the Year 2007*
GraphAccording to HGChristie's recently derived analysis of 2007 sales figures, The Bahamas real estate market is vibrant and healthy despite fundamental changes in the American market.

In this analysis, we will look at two types of real estate products, being houses and vacant land, comparing 2007 with 2006.
 

Please note that a significant percentage of the sales upon which this report is based are those of HGChristie Ltd. As a result, the averages in this report - particularly average selling prices - are somewhat higher than would be observed in the balance of the Bahamas marketplace.


In 2007, the average selling price of a home in the Bahamas was $1,349,949, an increase of almost 10% over $1,227,781 in 2006. Final selling price was 87% of asking price, an increase in selling price strength of 7.2% over 2006's figures of 79.81%.

The top home price in this sample at $25,000,000 with a low of $135,000 for 2007, and a high of $13,500,000 and a low of $70,000 in 2006. These number views are very wide in both years due to two factors: density of sales skewed to the higher end specialized luxury market, and a relatively low sample size.

However, they are worth noting as significant evidence of a robust luxury market, indicating that meanwhile, very affordable homes are also available throughout the country.


Values increased as well, with the average price per square foot of $358.94 in 2006 increasing almost 10% to 389.98 in 2007.

In the vacant land sector, the market seemed to enjoy a similar if not even more pronounced rise profile in the two years studied.

Vacant land sold in 2007 for an average of $419,303 per transaction, an increase of 27.9% over 2006's $327,892 average price. The ratio of final selling price to listing price strengthened from 83.57% in 2006 to 92% in 2007.

The market range for vacant land 2007 was a high of $26,670,000, with a low of $5,000, while 2006 had a high of $16,370,000, and a low of $4,000. Again, these figures are not suitable for direct comparison, but serve as observations and indicators of a wide offering.

As far as value, the average price actually decreased from $12.05 per square foot in 2006 to $8.08 in 2007.  This is due to an extraordinary large property sale in 2007 that trended the averages down.  With the extraordinary sale removed from the statistics, the average price maintained a similar value from 2006 to 2007.

Average time to sell vacant land showed a notable reduction of 12%.

As a form of comparison, related 2007 market figures for Canada and the United States, albeit both significantly larger than the Bahamas by many factors, suggests the possibility that the Bahamas may be enjoying a shelter from volatility.

Statistics from the CREA, the Canadian Real Estate Association, indicate 7.6 per cent more properties sold in 2007 over 2006.

Meanwhile, according to the New York Times, sales of new homes fell by 26% in 2007.

The trend revealed in our sample shows a 10.6% increase in overall home sales in 2007 over 2006. 
 
HGChristie continues to collect market information to assist their clients and customers with key investment decisions.

For further information relating to comparative market analyses and specific studies you may require for your investment project, please contact HGChristie.

___________________________________________________________________

*Basis for Calculations and Disclaimer:


This analysis has been prepared by HGChristie Ltd.
Data is drawn from HGChristie's extensive database which includes its own sales and a significant portion of sales by other companies, using publicly available information. In this analysis, statistics have been developed from a sample representing an estimated 30% of the Bahamian real estate market. Although a significant sample, errors may be possible due to variances in unsampled sales. Figures and calculations should be used for the sake of comparison, but should not be relied on as a fully authoritative resource on completed Bahamas real estate sales.
A Contemporary Island Experience
Sky Beach Club, Eleuthera
FEATURE


ES10848 Sky Beach Club
 
This spectacularly modern approach to island living (HGChristie Listing ES10848) is just one of forty homes located at Sky Beach Club, Eleuthera.

Luxurious tropical living awaits the lucky new owners - stunning  contemporary floor plans, spacious bedrooms, patios flowing from the interior space, pool, and plenty of glass to drink in the magnificent expanses of Eleuthera's blue waters.
Ownership is club-style with a dazzling array of amenities - infinity edge pools and spas, and to ease travel to your new home at Sky Beach Club, private jet service.

Commanding an elevation of 135 feet,
the Sky Beach clubhouse is the crowning gem. Overlooking  the pink-hued shores of the Atlantic's remarkable crystal-clear waters, a world-class Five Star restaurant awaits you.

The club's cocktail bar will have you enjoying Eleuthera's incredible views, and perhaps no surprise, but the vistas from the second level fitness centre make your workouts unforgettable.

Sky Beach concierge services are at your beck and call twenty four hours a day for your every need. Anything and everything you desire is at your pleasure.


Our largest floor plan features 3 bedrooms and 3 bathrooms, perfect for large family gatherings or a romantic getaway for couples.

Homes offer a variety of bedroom configuration choices with private terraces and privacy for each bedroom, kitchens made for entertaining, full views of the ocean over spacious decks, pool and spa, and much more.


All properties will come complete with everything you consider a must in luxurious living... central air, nine to ten foot plus ceilings, gourmet kitchen with all stainless steel Viking appliances, custom cabinetry throughout, ceiling fans in most rooms, and more.

Standard extras are deluxe - satellite TV and internet hookup, washer dryer, and golf cart and charger, among much more.

High-end contemporary furniture design creates incredible living spaces, drawing inspiration from modern Asian design. Two color palettes set the tropical mood -  warm tones  -  mandarin orange, deep gold and splashes of hot pink and red, and  cool tones -  deep turquoise, sea green and a hint of violet.

Each home and villa at Sky Beach Club comes with a fully appointed accessories package, from cookware to serving-ware and everything in between, you'll be well-prepared for every occasion; from a candle-lit dinner for two to a sumptuous party for eight.


Home prices in Eleuthera's stunning Sky Beach Club range from the low $700's to $3.1 million, with floor plans up to 3400 square feet of luxury island living at its absolute best.

For the most innovative and contemporary tropical home offer in the Bahamas today, one has only to look to Sky Beach Club, Eleuthera.


The Sky Beach Club is an exclusive offer of HGChristie.  We have assembled comprehensive introductory information that you may view by browsing to our site.  The Sky Beach Club website also presents a full complement of information.

Vacation Home Ownership Returns On The Rise
Improving Your Returns on Second Home Investments in The Bahamas
ER10550Rental Developing profitable revenue from second/vacation homes is related to three key factors: cost of investment, percentage of capacity, and ongoing costs spent operating.

With historical good demand for vacation rentals continuing to steadily increase, Bahamas properties remain attractive as combination personal getaways and income-generators.

On the conservative end, delightful beachfront properties can be purchased for as little as $260,000 (
HGChristie listing DS10585). If a 40% occupancy can be achieved at a weekly rate of $1,500 with typical operating costs, your second home will return a rate of 10%+ annually. This can be improved with marketing, as occupancies of 60% and higher are possible when your property is placed in a professional rental management program.

For a more extensive property, the arithmetic is the same, just scaled upward.

Let's say you purchase a property at $700,000, renting it at $4,000 per week, again looking at a target of 40% occupancy.  Projecting costs of $2,000 per month for maid service and operating, return for this vacation revenue property would be in excess of 8%.  Again, your occupancy figures can be increased dramatically with marketing exposure and promotion.

The keys to profitable investment in a second/vacation home is to purchase well in an attractive location, have good control on your operating costs, and to promote the property to a waiting audience.

For each of these critical components - purchasing well from a wide selection, having your property professionally managed, and extensive effective renter promotion - HGChristie is able to assist you with market-leading advice and results-oriented rental management.

So go ahead - use the largest offering of choice up-to-date Bahamas property listings at HGChristie.com. Select from a galaxy of attractive beachfront and getaway condo properties. Then contact us to begin planning your next profitable investment - a Bahamas vacation home that more than earns its own keep.

HGChristie Office Directory
 
NASSAU Head Office:
Millar's Court
P.O. Box N-8164 
Nassau, Bahamas
Phone:  (242) 322-1041
Fax:      (242) 326-5642
sales@hgchristie.com
 
ABACO

Abaco Main Office:
P.O. Box AB-20777
Marsh Harbour
Abaco, Bahamas
Phone:  (242) 367-4608
Fax:      (242) 367-5452
abaco@hgchristie.com

Hope Town/Elbow Cay
Abaco, Bahamas
Phone: (242) 366-0700
abaco@hgchristie.com

Great Guana Cay
Abaco, Bahamas
Phone: (242) 365-5454
guana@hgchristie.com



ELEUTHERA Eleuthera Main Office:
P.O. Box EL-25
Governor's Harbour
Phone: (242) 332-3404-5
Fax:     (242) 332-3406

Governor's Harbour
Eleuthera, Bahamas
Phone/Fax:  (242) 332-2503
eleuthera@hgchristie.com

Windermere Island
Eleuthera, Bahamas
Phone: (242) 334-2298
Fax:     (242) 334-2818
windermere@hgchristie.com

Harbour Island
Eleuthera, Bahamas
Phone: (242) 333-3375/6
Fax:     (242) 333-3374

harbourisland@hgchristie.com
 

EXUMA P.O. Box EX-29178
George Town, Exuma, Bahamas
Phone/Fax:  (242) 336-2274
exuma@hgchristie.com
 
GRAND BAHAMA P.O. Box F-42498/#360
Freeport, Grand Bahama
Phone:  (242) 351-8501
Fax:      (242) 351-7491
grandbahama@hgchristie.com

 
TURKS & CAICOS

P.O. Box 264
Providenciales
Turks & Caicos Islands

Phone: ( 649)-231-2110
Fax:      (649) 342-1522

sales@hgchristie.com

In This Issue
2007 Market in Review
FEATURE -Sky Beach Club
Vacation Rental Returns On the Rise
Quick Links
Feature Listings
ES10844
ES10844

Endless Summer

AS10947
AS10947

Ready To Finish Waterfront

PS10640
PS10640

Oceanview Home

AS10904
AS10904

Crossing Waterfront Condos

ES10918
ES10918

Sunshine House

NS06394
NS06394

Beautiful Blair Home

PS10645
PS10645
Secluded Getaway
AS10903
AS10903
Waterfront Condos
 NS06380
NS06380
Excellent Canalfront
GS02914
GS02914
Stunning Lucaya Home
AS10902
AS10902
Crossings Condo
NS06538
NS05638
Quiet Neighbourhood

GS03066
GS03066

Spacious With Pool

TS10581
TS10581

Villa Pasha

PS10700
PS10700

Amazing Island Home

AS10916
AS10916
Beautiful Private Island
XS10749 
XS10749
Leaf Cay
JS00058
JS00058
Charming Elegant Home
AS10701
AS10701
Golf Course Home

ES10898
ES10898
Gorgeous Private Island

JS00023
JS00023

Great Opportunity!

Quay Side
NS06392NS06392
Elegant Tropical Haven

ES10818
ES10818

Prime Beachfront

NS06541
NS06541

Rose Island
Beachfront

AS10952
AS10952
Sea of Abaco Lot

ES10908
ES10908
Shell Beach House

GS03063
GS03063
Grand Bahama Beachfront Condo

NS06563
NS06563
Rose Island
Sea To Sea

NS06568
NS06568
Beachfront and Canal!

As`0886
AS10886

Gorgeous Waterfront Acreage