Press Releases

Bahamas Realty Sees Major Boost In Website Traffic, Predicting Market Bounce-back

Bahamas Realty, a full service Bahamian real estate firm specializing in residential and commercial property across The Bahamas, is seeing a major increase in website traffic and inquiries, a change which the company predicts is an indication that interest in Bahamian property is rebounding after the initial industry slowdown seen during the Covid19 pandemic.

The pandemic has brought with it unprecedented disruption, impacting economies and industries globally, of which Real Estate is no exception. According to economists from The Leading Real Estate Companies of the World®, an invite-only organization encompassing some of the world’s top real estate firms, of which Bahamas Realty is a member, the silver lining is the prediction of a firm recovery of the industry. In a recently released Global Market Update, the organization stated that while the contraction has been sharp, “the recovery is expected to be sharp as well … this outlook is due to the cause of recession, which is not fundamental or economic, but rather public health. In short, the demand for products and services is just stalled”.

Disruption to the Bahamian market is consistent with global trends; however, Bahamas Realty’s website data shows a major uptick in users visiting the website since June 1, with visitors to the site increasing by more than 60% over the prior six weeks, and 130% over the same period in 2019.

The increase in web traffic has also been accompanied by a steady increase in property inquiries, according to Bahamas Realty’s CRM (Client Relationship Manager) software. New inquiries through the website were up 125% in the recent period, and nearly 50% year over year.

“This data is incredibly positive for our business,” said Donald Martinborough, CEO of Bahamas Realty. “We see it as an encouraging sign for the Bahamian real estate industry as a whole”, adding that the rebound in property inquiries may well lead to a market recovery at levels “better even than pre-pandemic levels” over the next couple of years.

 “We’re seeing major increases in web traffic, particularly from the United States,” said Iona Henderson, Marketing Coordinator at Bahamas Realty. “The U.S. is typically our largest audience demographic, with visitors originating in The Bahamas coming in second, but we have seen U.S. visits increase by more than 250% in the last six weeks, accounting for 70% of our traffic.”

Ms. Henderson believes there are several factors driving this change, most notably The Bahamas’ swift action during the early stages of the pandemic. “There seems to be a link between The Bahamas’ response and interest in property from offshore buyers, particularly from the U.S. where they have, sadly, seen cases steadily increase.”

“The Bahamas has always been a draw for the American buyer because of our close proximity to the U.S., and the relative ease of doing business,” said Mr. Martinborough. “However, this pandemic has highlighted one of our other major appeals: the safety, privacy, and seclusion that many properties on our beautiful islands offer.”

 

Bahamas Realty Represents Home Featured in HGTV's Ultimate House Hunt

HGTV’s 9th annual Ultimate House Hunt contest, featuring listings exclusively from Leading Real Estate Companies of the World® and Luxury Portfolio International® members, is officially underway! The annual contest curates the world’s most stunning real estate listings. The 2020 HGTV Ultimate House runs from June 30 through August 4th. During the contest period, consumers are invited to vote for their favorite homes in the US in eight different categories and tour featured Global Homes from 13 alluring locations around the world.

This year, we’re honored to announce that a property listed with Bahamas Realty has been selected for Global Feature by editors of HGTV.com based on its extraordinary features and inspired design, captured by striking photography. The sprawling estate, named La Cieba, is located in the exclusive beachfront and golf community of Ocean Club Estates on Paradise Island.

“We are delighted that this estate has been included in the HGTV Ultimate House Hunt,” said Bahamas Realty CEO, Donald Martinborough. “It’s an extraordinary home that represents the best of Bahamas living. It’s like a secluded private island retreat with access to world class amenities.”

Listed with company director and estate agent, Andrea Brownrigg, La Cieba is currently the most expensive property on the Bahamas MLS at $39.5M. The ultra-exclusive property is a serene oasis obscured from view on all sides and has water features, waterfalls, ponds, two swimming pools and 300’ of spectacular beachfront.

“La Cieba is the epitome of luxury island living,” said Brownrigg. “Between the spectacular beachfront main residence and exquisite stone walled guest cottages nestled amidst lush tropical landscaping, it’s the ultimate retreat for family to come together to create cherished memories.”

Ocean Club Estates homeowners benefit from the added privilege of a private Beach and Tennis Club, optional golf membership, access to the wide array of recreation venues at Atlantis and exclusive membership in the Four Seasons Ocean Club to enjoy the pools, spa, gym, tennis courts, beach and restaurants.

Click here to view the listing and take the 3D virtual tour!

 

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.

DOWNLOADS

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/

Leading real estate firm: East Bay Street Commercial Bounces Back, Hottest Property on Island

houseNASSAU, BAHAMAS – 05/20/2019 – Bahamas Realty’s commercial division, NAI Bahamas Realty Commercial, announced today that it has been selected to represent the sale of an iconic East Bay Street office complex.

The property located at 23 East Bay St., known as Bydand House, is a functional office complex in a high-traffic, secure location. The prospect represents an attractive investment opportunity with consistent occupancy rates and good tenants.

“In the last few years and, in particular, the last few months we have seen more activity and commercial interest in the eastern district, and the Montagu area in particular, than we had seen for quite a while,” said Bahamas Realty CEO Donnie Martinborough, whose company has had a stately presence in the historic Bahamian building for more than 40 years. “Even we at Bahamas Realty are caught up in the exciting changes with our own office building on the market to sell while Montagu is enjoying a resurgence in commercial development.”

“As both tenants of the building, as well as being the leading commercial real estate firm on the island, we are in a unique position to broker the sale of Bydand House.” Said Martinborough. “We are confident that we will find the right buyer.”

The 1.46 Acre property is situated in an established business district in the Eastern District of New Providence and includes 6,484 SF of office space in the main building with two additional income producing annex buildings and more than ample room for building expansion.

The Montagu area is experiencing a dramatic lift in development. A 100-plus-year-old home has been renovated, transforming it into the wildly popular Wild Thyme restaurant. Almost directly next door, Harbour Bay Shopping Centre, home to Starbucks and Fresh Market, has become a destination shopping plaza, with the parking lot often packed to capacity.

In December the former UBS building, purchased by government, became home to the Securities Commission of The Bahamas, the Compliance Commission and the Data Commissioner among others, giving East Bay St. the pleasure of enjoying a commercial rebound.

While all the activity has been on the south side of the street to date, a new restaurant at the Nassau Harbour Club that has been under construction and under wraps for more than two years is expected to open soon, and renovation is also underway at the currently-closed Waterloo nightclub on East Bay St.

“We have never lost faith in the strength of the east,” said Martinborough. “And with all of the recent activity in the area we recognise this as a great opportunity for investors or businesses looking to expand in a growing market.”

Link: https://buildout.com/website/BydandHouse

Realtors Partner With Yacht Chartering Firm

Two Bahamas Realty agents have teamed with a yacht charter firm to marry high-end real estate with luxury cruising through this nation's islands.

Elite Bahamas Team, formed by Ana Wassitsch and Silvina Andrews, has partnered with Island Yachts to fill the gap between land, sea and air for residents and visitors alike.

"During our property tours, Ana and I are often asked about the best ways to experience the islands of The Bahamas, and chartering a yacht is our immediate answer," said Mrs Andrews.

Their high-end clientele is interested in exploring the possibilities of island living, and Ms Wassitsch added: "Our clients want to fly to Andros for lunch, or sail to Exuma for sunset dinners. They want to invite their friends and family to swim with pigs, turtles and sharks; to see the iguanas; dive through Grottos; powerboat through creeks and walk on 'print-less' powder-sand beaches. They want to wake up, hop on and sail off."

The duo thus approached Peter Maury of Island Yachts with the idea to offer luxury charters as part of their portfolio. "We frequently have clients asking about real estate investment opportunities in The Bahamas as well as tax and residency advantages," Mr Maury said.

"They also inquire about private islands and the best options for a second or third vacation home. Answers to these questions require the expertise of a local real estate agent."

The services provided by both parties complement each other. Island Yachts has a fleet of yachts, powerboats, sports fishing vessels and a helicopter, covering a wide range of destinations and "experience" packages, while Bahamas Realty is a full-service residential and commercial real estate and appraisal company.

Both Ms Wassitsch and Mrs Andrews are Certified International Property Specialists (CIPS), and have the added benefit of speaking three languages between them, having lived in six different countries.

"We do the work together by successfully leveraging our individual strengths and specialties, and our new partnership further advances us with its added resources, people, ideas and solutions," said Mrs Andrews. "By working as a team we are able to ensure our clients get the attention they deserve 100 percent of the time. There is not a moment that our clients can't get in contact with us."

Link: http://www.tribune242.com/news/2018/aug/28/realtors-partner-with-yacht-chartering-firm/