HGChristie's Bahamas Real Estate Review Newsletter

Real Estate Review
Everything You Need to Know About Real Estate in the Bahamas

Issue 2008-05

OCTOBER 2008

October 2008 at HGChristie

This month's featured development property is the boutique hotel of Emerald Palms in Andros. This gorgeous spot is a slice of paradise that you'll definitely want to know more about!

We also have a story on our recent 1st Annual Agents' Conference which was a great motivation to all of our team as well as a great success.

Our Market Report will be keeping you up to date on the state of the Bahamian real estate market. It's definitely not to be missed!

And as always, get the latest scoop from our online blog - Horizons. The link and a brief blurb can be found at the bottom.

Johnsig

John Christie
H.G. Christie Ltd.

PSST! - we've found out about a great new resource. Be sure to get yourselves a copy!

How to Buy and Sell Real Estate in the Bahamas: Insider's Guide

by Matthew Simon by CreateSpace

Paperback ~ Release Date: 2008-05-15

List Price: $29.00

Our Price: $29.00

How to Buy and Sell Real Estate in the Bahamas: Insider's Guide

by Matthew Simon

ONLINE VERSION

List Price: $29.00

Buy Now

Feature: Emerald Palms

An opportunity you won't want to miss!

We are excited to tell you about a unique new development in Andros. Located on 10 acres of property along a five mile stretch of beach near Drigg's Hill, South Andros, the Emerald Palms hotel is an excellent opportunity to own your own piece of paradise with a limited amount of day-to-day concerns.

The Emerald Palms Hotel is a group-friendly, boutique resort with 22 lavishly appointed beach and garden villas, 18 clubhouse rooms, 1600 sq. ft. conference room, an oceanside pool, and bar and restaurant. It is also only a short distance from either Nassau or the United States and a short and scenic flight will quickly bring you to this wonderful blend of unexpected elegance and unbridled natural beauty.
DS10585 Bedroom

If you are interested in relaxing in your own private villa in a restful and quiet part of the Bahamas, then this is the perfect chance for you. The 22 bungalow-style villas are available for purchase as either 2 bedroom, 1 bath models or 1 bedroom, 1 bath models. Both versions have tasteful island decor, classic marble floors, mahogany doors, air conditioning, and marble and granite bathrooms. Further delights include: a cozy kitchenette, large Jacuzzi tub, and a private and covered porch from which owners and guests alike can take in the Caribbean breezes and ocean views. See our listing DS10585, a 2 bedroom, 1 bath villa offered at $260,000.

Villas, once bought, will be entered into a rental pool that is managed and controlled by the Emerald Palms hotel which presents a great income opportunity for owners with no stress on their part.

Emerald Palms also recently announced the appointment of a Bahamian husband and wife management team, Een and Sharice Colebrooke, who will oversee the current staff of about 25. The Colebrooke's will ensure that the resort is run properly from day-to-day and will also be responsible for providing all guests with VIP treatment.

This virtually untouched section of sand and sea offers an incredibly diverse collection of wildlife, wide open beaches, and quaint, colourful settlements. South Andros Island is home to charming and friendly people and is a romantic Caribbean island getaway. Purchase a villa and learn to lay back and relax in luxurious surroundings on an idyllic beach.

HGChristie Update:
The 1st Annual H.G. Christie Agents Conference!

Realizing Success through Education, Motivation, and Innovation

We recently held our very First Annual Agents Conference with resounding success. Over 30 agents from H.G. Christie's offices throughout the islands of the Bahamas were brought together under the theme - Realizing Success through Education, Motivation & Innovation.

On Friday, September 19th, 2008, agents met for the first day of the conference in the Adonis room at newly opened Atlantis Convention Centre. This day focused on educational sessions designed to enhance individual knowledge and company cohesiveness. Speaking on the purpose of the conference, John Christie, Vice President of H.G. Christie Ltd., emphasized that it was to "broaden knowledge," and, "ensure that we are working under a solid framework with a true team approach."

Rodney Dillard - speaker

We were honoured to host guest speaker Rodney Dillard, of Illustrated Properties Real Estate, Palm Beach, Florida. Mr. Dillard was also representing Christie's Great Estates of which H.G. Christie Ltd. is the exclusive affiliate for the Bahamas. Mr. Dillard spoke on his relationship with the late Sir Harold G. Christie which was an intriguing peek into our company's past. Mr. Dillard also addressed the importance and prestige of an affiliation with Christie's Great Estates saying, "the combination of H.G. Christie and the exclusive representation of Christie's Great Estates is the strongest affiliation you could have. It emanates success and prestige in luxury real estate around the globe."

The following day was an Agent Caravan to showcase some of our premiere properties and to better acquaint Family Island agents with sales and development activity going on near our capital. This day long tour was conducted by boat, on 'mules' (motorized golf carts), aboard a luxury yacht, and an air conditioned motor coach. Tours included the Ritz-Carlton Rose Island development, Ocean Club Estates properties, the Old Fort Bay development, and the Albany development.

A highlight of the morning was a special presentation given by the Ritz-Carlton Rose Island development team, when all of the agents were invited aboard a yacht in the Atlantis Marina to view their impressive project plans.

Both agents and staff were also treated to a cocktail reception at Luciano's of Chicago on Nassau's picturesque harbour-front where we enjoyed an impressive presentation by the KI Group of their luxury development at Roker's Point in Exuma. This high end project consists of The Riviera which includes a marina and condominiums, and The Sanctuary which are high end single family homes.

This high energy weekend culminated in a celebratory dinner at Graycliff's Brazilian-style steakhouse, The Humidor Churrascaria, where awards were presented to the agents while being pampered by Graycliff staff and dining in style.

All in all, great fun was had and much was learned, and this will definitely become a new fixture for the agents and staff - one we will most certainly look forward to in the future!

Market Update:
Steady Sales Overall

Bahamian Real Estate Market So Far Spared Turmoil

Based on the steady sales activity we have witnessed over the course of the year, we at HGChristie are of the opinion that the real estate market in the Bahamas is remaining relatively strong, especially for sales in the luxury markets.

Speculative, high risk lending practices are non-existent in our country, and additionally, the government is very selective in its approval processes for new developments. As a result of these factors we do not see the high levels of market saturation which we understand to be common in today's troubled U.S. market.

The high-end residential market in the Bahamas has continued to perform steadily and pricing in luxury developments have ranged from $2,000,000 per lot to around $16,000,000 with the sizes of the properties varying. In new developments alone this year there have been $370,000,000 dollars in sales. These include the Albany development (through a culmination of pre-sales push), Bakers Bay, the Residences at Atlantis, and The Ritz Carlton in Abaco. The success of these developments is due mainly to the fact that the developers had a high level of pre-existing funding in place and also to their ability to perform as promised.

Another strength has been the rising demand for private, undeveloped islands. During this downturn in the world economy, people with means have been struggling to find safe places to secure their wealth. This has lead them to invest their money in the one commodity that will not disappear or come into dispute - real estate.

In general, sales prices have remained consistent but some motivated sellers have reduced their sales prices due to being over-extended in the U.S. market. The possession of development entitlements would further enhance the value and demand for an undeveloped island.

Overall, we remain optimistic as our sales continue on this current trend.

Our Blog:

Horizon

Optimism Still Prevails

Recently I've read two very interesting columns that seem to hold positive opinions for the Bahamian market.

The first, Americans still plan to travel abroad in '08, discusses some results of a survey by the Visa credit card company of whether or not Americans will be travelling in the near future and where they plan on going. Of the top 7 tourist destinations named, the Bahamas was one of them, and the article referred to the ongoing popularity of the Caribbean in general.

The second article I read, City bankers still love their Caribbean homes, seems to agree with much of what we're already seeing here for ourselves.

To see the full text and for more information on this and other topics visit us at our blog - Horizons.

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-20106 Marsh Harbour Abaco, Bahamas Phone: (242) 367-5454 Fax: (242) 367-5452 abaco@hgchristie.com Hope Town/Elbow Cay Abaco, Bahamas Phone: (242) 366-0700 hopetown@hgchristie.com Great Guana Cay Abaco, Bahamas Phone: (242) 365-5454 guana@hgchristie.com
ELEUTHERA	Eleuthera Main Office: P.O. Box EL-25148 Governor's Harbour Phone: (242) 332-3404/5 Fax: (242) 332-3406 eleuthera@hgchristie.com Windermere Island Eleuthera, Bahamas Phone: (242) 334-2298 Fax: (242) 334-2818 windermere@hgchristie.com
EXUMA	P.O. Box EX-29122 George Town, Exuma, Bahamas Phone: (242) 336-2274 Fax: (242) 336-2272 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