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Dec 19, 2011

Prices firm in the Bahamas, yields good in Nassau


Last Updated: Dec. 19, 2011
ABACO & GRAND BAHAMA - Waterfront condos COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
60 sq. m. 175,380 n.a. n.a. 2,923 n.a.
120 sq. m. 301,680 1,121 4.45% 2,514 9.34
170 sq. m. 497,250 1,477 3.57% 2,925 8.69
250 sq. m. 639,000 n.a. n.a. 2,556 n.a.
ABACO & GRAND BAHAMA - Waterfront houses
120 sq. m. 515,880 n.a. n.a. 4,299 n.a.
175 sq. m. 798,000 n.a. n.a. 4,560 n.a.
250 sq. m. 1,090,250 n.a. n.a. 4,361 n.a.
500 sq. m. 1,898,500 n.a. n.a. 3,797 n.a.
NASSAU -
Waterfront condos
120 sq. m. 334,080 2,272 8.16% 2,784 18.93
175 sq. m. 552,550 3,036 6.97% 2,986 17.35
300 sq. m. 1,075,200 5,109 5.70% 3,584 17.03
NASSAU -
Waterfront houses
500 sq. m. 2,545,000 n.a. n.a. 5,090 n.a.
Districts researched:
Abaco: Great Guana Cay, Hope Town/Elbow Cay, Treasure Cay, Tillo Cay, Scotland Cay, Green Turtle Cay, Leisure Lee, Casuarina Point, Marsh Harbour
Grand Bahama: Freeport, Fortune Bay, Colony Bay, Bell Channel Bay, Casa Loma, Bahamia, Lucaya/Lucayan Reef, Discovery Bay
Nassau: Lyford Cay, Port New Providence, Paradise Island, Cable Beach, Sandyport, Eastern Road, Old Fort Bay, Caves Point, Love Beach, West Bay Street
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Property prices have been firm in the Bahamas, with the exception of houses on the Abaco and Grand Bahama waterfront. We did not see widespread price falls even in 2009, except again except for Abaco and Grand Bahama waterfront. These two locations are still rather ‘exposed’ in gross rental yields terms, as yields there are low or moderate.

The Bahamas has traditionally had quite high yields. But as such a high proportion property rentals is seasonal, it is hard to get good figures.

Among the different types of properties that we survey, inland condominiums on Nassau have the highest average yields at around 8%, with yields of around 7% for Nassau condominiums along the water. Last year we found a similar yield gap for Nassau houses, so it seems that this real factor, not a statistical blip.

 




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