Bahamas Real Estate Information

Listed below are some things that you should know about buying and selling real estate here in the Bahamas.

Government Stamp Tax

Paid on every sale and split equally between buyer and seller unless otherwise agreed upon. The rate is as follows, on any sale:

Up to $20,000 - 4%
From $20,000 to $50,000 - 6%
From $50,000 to $100,000 - 8%
From $100,000 and over - 10%
First time purchasers of dwelling houses (includes condos) in the Bahamas valued at $500,000 and less (to be used exclusively by the owner as a first-time dwelling), may apply to the Minister of Finance for an exemption of the Government Stamp Tax.

Real Property Tax

Owner Occupied
First $250,000 - 0%
$250,000 to $500,000 - 0.75%
$500,000 to $5 Million - 1%
Amount over $5 Million over - 0.25%

Other Property
First $500,000 - 1%
Amount over $500,000 - 2%

Vacant Land
Up to $7,000 - $100
Amount over $7,000 - 1.5%

Both buyer and seller need legal representation by a Bahamian attorney. The Bahamas Real Estate Association suggests that you should expect to pay 5% of the purchase price for Legal Fees, that would be 2.5% for the Seller and 2.5% for the Buyer. If both the Buyer and the Seller use the same attorney you can expect to pay a lower fee.

Real Estate Commissions

Paid By The Seller

Developed Property - 6%
Undeveloped Property (Raw Land) - 10%

Permanent Residence Status

Overseas persons investing in a residence valued at $500,000 and over, may apply to the Department of Immigration for Permanent Residency status. Holding a Permanent Residence certificate can lead to significant tax advantages in your home country.

Annual Homeowners Residence Card

Available to any homeowner in the Bahamas. Obtained from the Director of Immigration, it allows the permit holder, and family, to enter and remain in The Bahamas for the period of the permit.

Pelican Bay

click for full size photo

Bahamas Real Estate

Eleuthera Attractions

Eleuthera Beaches

Eleuthera Beaches

Everyone’s list of the world’s top 10 beaches includes Harbour Island’s famed Pink Sands Beach. Fewer know that pink sand also spreads along the coast of Eleuthera, blessing it with several blushing beaches, most notably French Leave Beach and Winding Bay Beach.

Spanish Wells North Side Beach

This beach extends on the north side of Spanish Wells for almost 2 miles. This beach is not as famous as the Pink Sands Beach in Harbour Islnad but is one of the best kept secrets of the Bahamas.

Pink Sands Beach

Harbour Island is most renowned for its pale pink sand beaches some three plus miles long and 50 to 100 feet wide - considered one of the very best beaches in The Islands Of The Bahamas. The island's beach was featured in The Travel Channel's “World's Best Beaches” segment in March 2005. Named “Best Sand Beach,” Harbour Island was one of 10 beaches worldwide to be included in this program.

Cape Eleuthera Resort Beach

Located on a 4,500-acre private, secluded beach preserve on the tip of southwest Eleuthera, Cape Eleuthera is surrounded by uninhabited wilderness.

The Beach at Pineapple Fields

Located near Governor’s Harbour the beach at Pineapple Fields offers spectacular views and Tippy’s, a one-of-a-kind restaurant and beach bar that one can sit, have a Kalik or lemonade and take in the awesome view.

James Cistern Beach

The waves sometimes reach 10 feet due to a brisk southerly wind making this a great surfing site. Shipwrecks are just off shore and this beach is great for snorkeling when the water is calm.

The Cove Eleuthera Beach

Just up the road from Gregory Town and a stone’s throw from Surfer’s Beach, The Cove Eleuthera offers its guests a private beach amid stunning views from the cliffs of the cove.

Cotton Bay Estates & Villas

Located five miles south of Rock Sound in South Eleuthera are two private beaches of powdery pearl-white sand that stretch for over a mile at this new resort community.

Preacher’s Beach

This beach is located minutes from North Eleuthera. Wind your way down a sandy grassy path overgrown with sea grapes to find a favorite picnic spot after exploring Preachers Cave, one of North Eleuthera’s best known landmarks. The color of the water from this spot is heavenly.

French Leave Beach

One of the handfuls of pink sand beaches on Eleuthera, beautiful French Leave Beach is located just outside of Governor’s Harbour.

Lighthouse Beach

This beach is located in South Eleuthera near Cape Eleuthera and is known for its miles of unspoiled pink, soft, sandy beaches, as well as an old lighthouse located on a dramatic limestone promontory overlooking the ocean.

Surfer's Beach

This beach is located two miles from Gregory Town. The hang-ten set also knows Eleuthera is a hot wave-riding destination, with Surfer’s Beach drawing sun-bleached guys and gals to its island break.

Ten Bay Beach

This beach is located nine miles south of Governor’s Harbour in Savannah Sound. It is naturally shaded by large casuarina trees in the morning, but a sun lover’s paradise on a warm Bahamian afternoon.