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Dec 14, 2013

Prices firm in the Bahamas, yields good in Nassau


Last Updated: Dec. 14, 2013
ABACO & GRAND BAHAMA - Waterfront condos COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
65 sq. m. 172,055 n.a. n.a. 2,647 n.a.
120 sq. m. 313,200 1,280 4.91% 2,610 10.67
225 sq. m. 820,575 3,695 5.40% 3,647 16.42
ABACO & GRAND BAHAMA - Waterfront houses
120 sq. m. 591,240 n.a. n.a. 4,927 n.a.
180 sq. m. 779,040 n.a. n.a. 4,328 n.a.
350 sq. m. 1,924,650 n.a. n.a. 5,499 n.a.
NASSAU -
Waterfront condos
120 sq. m. 344,760 2,864 9.97% 2,873 23.87
175 sq. m. 704,200 3,717 6.33% 4,024 21.24
275 sq. m. 1,116,225 6,336 6.81% 4,059 23.04
NASSAU -
Waterfront houses
200 sq. m. 653,600 n.a. n.a. 3,268 n.a.
375 sq. m. 1,785,750 n.a. n.a. 4,762 n.a.
675 sq. m. 4,588,650 n.a. n.a. 6,798 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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