• Bahamas sixth most popular destination in the world
• Agents predict strong 2014 for Bahamian property
• US property most popular for seven months in a row
• Spain remains number two, ahead of France
• Demand climbs for Caribbean real estate
The Bahamas was the sixth most popular property destination on TheMoveChannel.com last month Photo: What a Catch
The Bahamas cruised up 26th places in the monthly chart to hijack the sixth spot, as demand for the country’s real estate reached a record high. The market’s current carried buyers to its shores, buoyed by improving tourism and stabilising property prices. The wave of interest washed over other Caribbean countries too, with Barbados gliding up nine places into 14th, and St Kitts and Nevis floating up 23 places to seize 19th.
USA: Captain of the seven seas
US property remained the most popular country on TheMoveChannel.com for the seventh month in a row, as its recovery continued to attract investors. Real estate in America accounted for almost one in five (18.56 per cent) enquiries in January 2014.
Spain was still the second most sought-after property destination, ahead of France and Portugal. Brazil completed the top five destinations, cementing the Latin America’s position as an investor favourite alongside familiar lifestyle destinations in the eurozone. Interest in Italy also increased, as the country climbed back into the top 10, overtaking Cyprus.
Canada held its place in the top 10, but Turkey slipped one place in TheMoveChanel.com rankings, as its share of enquiries decreased and Thailand’s increased. January 2014 is the third month in a row that Canada has been in the site’s 10 most popular countries.
Bahamas: Setting the course for 2014
Bahamas leapfrogged all three far-flung markets, though, as buyers steered their boats towards the Caribbean. St Kitts and Nevis enjoyed a similar boom in interest in 2013, as investors raised the flash for the country’s citizenship-by-investment scheme. Barbados has also seen a steady stream of interest in the last 12 months, frequently appearing inside TheMoveChannel.com’s top 15 destinations.
The unprecedented spike in demand for Bahamian property, however, has set the course for 2014, predicts Luke Smith, Managing Director of Crystal Investment and Real Estate .
Speaking to TheMoveChannel.com, he forecasts a strong year ahead: “Demand for Bahamian real estate is set to boom in 2014 with an already mature tourist infrastructure supporting more than 1.5 million stop over visitors and 3.5 million cruise visitors per year, its service industry has helped to become the largest driver of the country’s economic activity. With new leisure resorts also progressing in the islands the Bahamas is poised for exponential growth and development that will help create sustainable and lasting economic support.”
“The financial tax laws are very attractive to foreigners, many of whom choose to become residents,” he adds.
“The key is to invest at the right time before the prices increase but where you can be sure of capital appreciation because of supporting factors within the Bahamian property market we believe that 2014 is this right time to invest.”
Notes to Editors
Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
The website address is http://www.TheMoveChannel.com and the office address is 24 Jack’s Place, Corbet Place, Spitalfields, London, E1 6NN.
Contact Dan Johnson on 0207 952 7650 for further information