Bahamas Realty

The Most In-Demand Luxury for Affluent Homebuyers: Personal Wellness

Luxury Portfolio International's recently released report The Great Wellness Surge: Bringing the Best Life Home takes an in-depth look at how personal wellness has become the newest and most prioritized luxury from the perspective of those with homes worth $1 million USD or more.

Loving the luxury spa-like bath featured on the cover of the report? We are too! This luxurious bathroom is in the master suite of one of our listings! Check it out here and take a virtual tour around this serene oceanfront oasis built with wellness in mind. La Cieba is a luxury estate on Paradise Island, listed with Bahamas Realty broker Andrea Brownrigg.

According to their findings, there has never been a larger market of potential luxury homebuyers, with personal wealth at a record high globally; however, the luxury market is not immune to challenges, "Buyers face the possibility of economic or political instability, evolving tax structures and climate-related purchase considerations. Beyond these evergreen challenges, novel issues like the Coronavirus (COVID-19) have impacted market activity."

What is the response to these uncertainties? A focus on wellness to tune out the noise of the world.

The report breaks down five key wellness-oriented trends that are predicted to impact the purchasing decisions of homebuyers in the time ahead, including the rising demand for residential wellness amenities, the pursuit of wellness through international travel, and stress management.

A change in work styles, from in-office to remote, has prompted an increased need for self-care at home. Consumers are focused on residential offerings that help them unwind and disconnect, such as spa-like baths and amenity-rich indoor-outdoor living areas.

How these factors influence affluent consumers will be pivotal in their home-buying decisions. 

Some of the key takeaways:

1. Wellness is central to a life well-lived: More than 90 percent of luxury homeowners say their overall personal wellness is of utmost importance and are therefore committing free time to wellness activities, transformational experiences, social bonding, and leisurely travel. This is particularly true with the rapidly growing number of millennial luxury homeowners. 

2. Home wellness is in growing demand: Wellness at home can be found, for example, with specific kitchen elements* for the management
of dietary preferences (e.g., temperature and humidity-controlled cabinets, cellar-like storage for root vegetables, apples and other fall harvest produce), meditation spaces, exercise rooms, home spas or saunas, special lighting features for sleep hygiene, air and water filtration and more.

Download the complete report: The Great Wellness Surge: Bringing the Best Life Home
 

COVID-19 (Coronavirus) Update March 20, 2020

COVID-19 (Coronavirus) Update March 20, 2020

As the threat of Coronavirus is felt globally, The Bahamas is joining other nations worldwide in attempting to limit the spread through enacting preventative measures throughout the island archipelago, including a temporary 11-day closure for all non-essential businesses and public gatherings.

Bahamas Realty has, since the company’s inception, been people-focused. Our foremost concern is the personal health and safety of our families, clients, and employees. We are also focused on keeping your real estate transaction moving forward.

These are extraordinary times and we are taking extraordinary measures to complete your real estate transaction in a safe and secure manner, including:

  • Using video conferencing platforms and other digital tools. Bahamas Realty’s agents will offer clients the option to conduct business digitally, no matter where they are at in the process.

  • Our administrative, marketing and support staff will continue to be on hand, working remotely to assist our agents with transactions, inquiries and marketing your properties to the world.

  • Our property management division is hard at work to keep our buildings safe and secure

  • The appraisal department continues to operate remotely

We are all feeling this disruption to our daily lives, and we encourage you to take advantage of this time with your families and to look for the silver linings.

We will continue to update you as the situation unfolds in The Bahamas and as it relates to any economic impacts, and we will continue to be your best resource for all of your real estate needs. We wish you and your family health and safety. We will weather this storm together. Donald Martinborough CEO, Broker Bahamas Realty Ltd.

Link: http://https://www.theguardian.com/lifeandstyle/2020/mar/17/silver-linings-how-to-stay-positive-during-the-coronavirus-crisis

 

Realtor Hails End To Sector's 'Private Club-Like Atmosphere'

Stuart Halbert black and white headshot

A ten-time Bahamas Realty top performer has praised the firm's former chairman for driving a solution that broke up "the private club-like atmosphere" in the industry to the benefit of all.

Stuart Halbert, who has attained that honour ten times in the last 18 years, said Larry Roberts' consistent advocacy for the Multiple Listing Service (MLS) has helped transform the real estate sector and create the platform for himself and other agents/brokers to thrive.

"It is an honour to be named number one in a dynamic company like Bahamas Realty for the 10th time in 20 years, but the real honours in real estate should go to Larry Roberts (now retired) who fought for so many years to introduce the MLS (Multiple Listing Service) that revolutionised the industry as a whole," Mr Halbert said.

"Before MLS, associates and brokers would battle for exclusives, keeping information about a listing from being publicly viewed easily... It was Roberts who, in effect, knew that the future of real estate in this country would be better served by breaking up the private club-like atmosphere of a few firms. He had to battle tooth and nail with some, but today no one would turn back the clock.

"So when I receive an award, I always think it is he who helped to make the current real estate environment in The Bahamas what it is, and who helped make Bahamas Realty one of the anchors of that environment."

The term "exclusive" in today's real estate language refers to the right to market, stage and host events, but does not limit who can receive information. The MLS allows all licensed realtors and firms to post residential or commercial inventory listings as quickly as they come in to one agent or broker, enabling the industry to share information and better match buyers and sellers.

Donnie Martinborough, Bahamas Realty's chief executive, echoed Mr Halbert's sentiments about the importance of a co-operative industry where co-broking - rather than hoarding - a listing is the accepted way of doing business.

"It is just like Stuart to turn the attention on someone else," he added. "We are all so proud of his accomplishments. Part of the secret of his success is hard work, but a large part is his humility. He probably did not mention that about 70 percent of all his transactions are clients he has worked with before who have come to trust him and won't look anywhere else."

Mr Halbert, also named top exclusive listing agent in 2019, said several factors are contributing to a buoyant Bahamian real estate market.

"We are experiencing an upswing in the world's largest economy, which sits 50 miles off the shore of The Bahamas," he explained. "Locally we are enjoying competitive bank rates with more liquidity in the market.

"Against that positive backdrop, the ability to market properties effectively with drone footage and Matterport tours is the best it has ever been. Despite the effects of Hurricane Dorian that devastated two islands severely, The Bahamas remains one of the most highly desirable places to live, work and play in the world."

Mr Halbert also credited Baha Mar and The Pointe developments for revitalising high-end residential leases and sales. He added that if there is any real estate segment needing further development it is commercial, and every level - from warehousing to Class A office space.

Link: http://www.tribune242.com/news/2020/feb/26/realtor-hails-end-to-sectors-private-club-like/

Stuart Halbert Sweeps 2019 Sales Awards

At Bahamas Realty’s 70th Anniversary Christmas Luncheon and Awards Banquet, Broker Stuart Halbert was the man of the hour, achieved the coveted award of The Top Producing Agent during the past year as well as the Top Exclusive Sales Agent. He also won the Most Improved Sales Agent Award, “In recognition of an agent who has achieved exceptional sales performance year over year.” “Winning any one of these awards is quite an achievement. Winning all three of them is exemplary,” said Bahamas Realty CEO Donnie Martinborough, who cited Stuart’s work ethic and commitment to excellent service for his clients.

A nineteen-year veteran, Halbert received his award at a company dinner at Luciano’s Restaurant where other awards were presented to Sonya Alvino for securing the highest number of exclusive listings and Brian Austin for the most rentals of all agents and brokers in the company.

For the first time, The Employee of the Year award, chosen from the salaried employees of the company was a tie going to Jillien Mortimer, Commercial Assistant, and for the second year in a row to accountant Krystal Antonas.

NAI Bahamas Realty Commercial Sells Former RBC FINCO Building

NASSAU, BAHAMAS – November 1, 2019 – NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty Ltd. and a member of NAI Global, announced today that it represented the sale of the former RBC FINCO Building. The property will be utilized by a local retail bank. Commercial Broker, Larry Roberts negotiated the sale of the former bank.

“This sale is the latest of several recent major transactions we’ve represented in Nassau,” said Donnie Martinborough, CEO of Bahamas Realty & NAI Bahamas Realty Commercial. “This trend demonstrates a clear demand for commercial space in the capital.”

The purpose built RBC building is located on the Northeast corner of Robinson Rd. and Key West St., a high traffic location with excellent visibility. The 6,499 SF building is designed for security with separate front office and secure warehouse sections, and features a drive-thru facility.

About NAI Bahamas Realty Commercial. NAI Bahamas Realty Commercial, an exclusive member of NAI Global, is a corporate real estate services company dedicated to offering the finest commercial real estate and property management services in The Bahamas. It is the commercial division of Bahamas Realty Limited, a full service real estate company established in 1949 offering a full range of services for both residential and commercial properties.

We're Hiring - Marketing & Administrative Assistant

Marketing & Administrative Assistant – Real Estate

Marketing & Administrative assistant needed for a top-ranking Real Estate company in Nassau. This role offers the opportunity for a broad range of marketing and administrative responsibilities providing support to the Marketing Department and the real estate office. This position requires creativity, social media and technology support, strong attention to detail, outstanding customer service skills and provides the chance to support a dedicated and enthusiastic group of professionals.

Application deadline: November 12, 2019.

Download the job description below

DOWNLOADS

Marketing & Admin Assistant Job Description

 

HURRICANE DORIAN - Disaster Relief

imageHurricane Dorian struck the Abaco Islands on Sunday August 31, 2019, followed by Grand Bahama, as the strongest landfalling Atlantic hurricane in recorded history, with historic 185 mph winds and up to a 23 ft. storm surge. The storm has left the country in a state of shock and Abaco and Grand Bahama – where the eye made landfall – completely devastated.

While the full scope of the damage has yet to be determined, outpourings of concern and offerings of assistance have come in from every island and many other countries. The capital of New Providence was spared the brunt of the storm and relief efforts are already being organized on the island. Bahamas Realty is currently assisting with packing bags with supplies to go out to the people of Abaco and Grand Bahama.

We will also support the long-term efforts of the Rotary Clubs of The Bahamas in rebuilding our beautiful islands. If you would like to help, monetary donations are being accepted by The Bahamas Rotary Clubs and Rotary International.

YOUR HELP IS NEEDED

Please click on the attached document for information on how to contribute.

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Larry Roberts Appointed Director of the Bahamas Property Fund (BPF)

Larry RobertsWe are pleased to announce that Larry Roberts, NAI Bahamas Realty Commercial consultant & broker, has been appointed Director of the Bahamas Property Fund (BPF). Congratulations Larry Roberts!

Mr. Roberts is a past president of The Bahamas Real Estate Association and a member of the Society of Industrial & Office Realtors (SIOR). Mr. Roberts recently retired as the CEO of Bahamas Realty Ltd./NAI Bahamas Realty Commercial and continues to specialize in the sale and lease of commercial property throughout the Bahamas at NAI Bahamas Realty Commercial.

Read more about the appointment here: https://bit.ly/2MTIbDV

NAI Bahamas Realty Commercial negotiates major lease of New Corporate Center.

Ground Breaking at Caves Corporate Center. L-R: Larry Roberts, Consultant/Director, Bahamas Realty; Toby Hayes, Development Mana

NASSAU, BAHAMAS – August 7, 2019 – NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty and a member of the world’s premier managed network of commercial real estate firms, announced today a lease at the new Caves Corporate Center making Ernst & Young (EY), the anchor tenant of the western 25,000 square foot office building

Caves Corporate Center is currently under construction by Mosko United Construction Company Limited on the corner of West Bay Street and Blake Road. Only the 7,000 sq. ft. ground floor remains available for rent, represented by NAI Bahamas Realty Commercial.

“We’re pleased to have had a hand in helping EY find a new location for their offices in the fast-growing Western district of New Providence,” said Donald Martinborough, CEO of NAI Bahamas Realty Commercial. “This is a great location for this prestigious firm.”

The office is one of two buildings being built next to Caves Village which houses numerous restaurants, shops, a fitness centre, childcare facilities, businesses and banking facilities. In addition to the many residential developments nearby, including the Caves Point and Caves Heights residences, Blake Road has seen an increase in commercial office development and has become the hub of medical services in the west.

“This lease is the latest of several recent major transactions we’ve represented in the Capital,” said Martinborough. “We’re seeing a trend of businesses seeking locations which suit their employee’s lifestyle and taking into consideration nearby amenities and services that appeal to their workforce when making the decision to move or expand. This trend mirrors what is happening globally and shows positive growth in the Bahamian business sector.”

Realtor Teams With RBC For Hot Summer Homes

A Bahamian realtor has partnered with Royal Bank of Canada (RBC) to launch a two-month promotion that pledges to deliver a 48-hour turnaround on buyer financing approvals.

Monica Knowles, property specialist with Bahamas Realty, explained that the tie-up with RBC’s BISX-listed mortgage arm, FINCO, was designed to stimulate market activity during the traditionally slower summer months by cutting down the time associated with real estate purchases.

“Summer is traditionally a slower time for both the local housing market and second home buyers,” Ms Knowles. “While summer is slower, the reality is that the offerings of new residential properties, especially condominiums, has never been greater so I wanted to find a way to incentivise those who were thinking of looking to start their search now rather than waiting.

The campaign, which is being launched under the tag-line, Hot Summer Homes, twice the power, half the time, will last for two months until August 31. By providing an online link to gain pre-approval, it reduces the time for processing applications through a pledged 48-hour or two business day turnaround on mortgage approval requests.

The initiative also offers up to 95 percent financing, competitive interest rates for local and foreign buyers, and financing for work permit holders. It is being marketed via an aggressive social media campaign, database mining and personal calls on developers.

“We have an unprecedented abundance of new residential offerings – condominiums, single family residences, vacation homes, investment properties,” said Ms Knowles. “New developments include Sterling Hurricane Hole’s exciting project, the super-luxury beachfront high-rise condos of the Residences of Goldwynn, One Cable Beach next to Baha Mar, and ONE Ocean and THIRTY SIX, both on Paradise Island.

“And that is just New Providence. Add in Family Islands and private islands, and I don’t think there has ever been a time when there was a greater supply of new and diverse offerings. We want to ensure interest remains high and that buyers are empowered with an experienced partnership that adds value, convenience and strengthens ownership potential.”

“As a trusted partner in the Bahamian community, RBC Royal Bank and our mortgage bank, FINCO, is committed to increasing the opportunity for home ownership,” said Ericka Rolle, RBC FINCO’s managing director.

“When we hear a solid idea that has merit and increases the opportunity for more people to enjoy ownership or to move up the property ladder, we are happy to partner. Monica put a lot of thought into this project and we are very pleased to lend our support.”

Link: http://www.tribune242.com/news/2019/jul/08/realtor-teams-with-rbc-for-hot-summer-homes/