Exuma Bahamas Real Estate
Traditionally, Exuma Bahamas real estate consists of local residences, vacation homes, and vacant land. The Bahamas National Trust has created the first Park in the Caribbean and Exuma, which was renowned for its thousand-mile long coastline. Previously, the economy of the Exumas was based on cotton plantations, salt mines, and piracy. However, since the 1990s, the real estate market on the islands has exploded.
With her vast experience and expertise in the Exuma real estate market, Jenny Thompson has developed a large client base in the area. exuma bahamas real estate Her professional expertise and dedication to helping fellow real estate enthusiasts have helped many individuals purchase waterfront property in the Exumas. Aside from being a licensed real estate broker, she is also a former judge, justice of the peace, and former local government board member in the Exumas. Jenny and her husband Chris have founded the Exuma Foundation, which supports diverse educational programs for youth and young adults.
The government is not particularly strict about rental amounts in the Exumas. Generally, a 30 percent deposit is required to secure financing, but if you need additional funds to finance the purchase, you can always speak to your advisor. In addition to this, you can always check with your lender to see if they are pre-approved by the Bahamas Ministry of Housing. The financial requirements of Exuma real estate buyers vary, and you should be aware of these before making any final decisions.
The Bahamas Multiple Listing Service (MLS) is an excellent resource for the latest real estate listings. Listings are updated daily and can help you find the perfect place to spend your vacation or retire. Exuma’s low cost of property makes it a favored destination for foreign investors, and the Bahamian tax regime is favorable for foreigners. Faith Hill, David Copperfield, Johnny Depp, and Eddie Murphy all own islands on Exuma, as well. Recently, Hubert Minnis, the prime minister of the Bahamas, held a ceremony to redevelop Exuma’s airport. Soon, the airport will be a tier one airport, featuring a new runway, taxiway, and landing system.
The exumas are an archipelago of 365 islands. Pig Beach, in particular, has been rated as one of the best beaches in the world by publications such as Flight Network and Coastal Living. The beautiful sand and turquoise waters of the Exumas make it an idyllic setting for an island vacation. There are plenty of things to do in Exuma, and a little bit of island hopping can go a long way toward fulfilling this dream.
While there are rules in place for foreigners to purchase property in Exuma, there are also laws that apply to non-Bahamians who want to rent out their property. For example, non-Bahamians who wish to buy property in the Bahamas must obtain a permit before building a house. A non-Bahamian must also prove their good character by holding a job as a consular official.