Above: the Palm Cay development in Nassau
News

The Real Estate Market in the Bahamas Is Surging

By: Caribbean Journal Staff - February 29, 2016

While real estate sales are mixed around the region, one market is performing very strongly: the Bahamas.

The 700-island archipelago seems to be surging, according to a new report from Integra Realty Resources.

The Bahamas saw a 20 percent increase in real estate sales volume last year, according to data from the Bahamas Real Estate Association’s MLS.

That came with a 5 percent increase in the average sales price, according to the report, which was authored by James Andrews.

Last year, sales volume stood at $216.14 million, with an average sale price of $517,086.

Those numbers were up from $180.29 million and $492,585 million, respectively, in 2014.

“There appears to be a partial recovery in the real estate sector in some markets within the Bahamas,” the company said in its report.

That was centered in New Providence, however, rather than in Grand Bahama or the Family Islands.

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