Properties for sale in New Providence

Property in New Providence

New Providence, the most populous island in the Bahamas, offers a massive choice of different residential options. Such a diversity allows everyone to find properties in New Providence for investment or just as a palace to live or spend vacation time.

Cable Beach is a district, great for those looking for a luxury lifestyle. This one boasts over 15 world-class hotels, including the iconic Atlantis Paradise Island, which features 3,800 rooms and a 141-acre water park. According to the Bahamas Ministry of Tourism, Cable Beach attracts over 1.7 million visitors annually, contributing significantly to the island's economy.

Downtown Nassau provides an unusual mix of historic charm and modern urban living. This area features over 1,000 colonial-style buildings, many of which have been converted for mixed purposes: from residential lofts, to hotels and offices. According to the Bahamas National Trust, the city's historic district is home to the country's largest collection of Georgian-style architecture, which dates back even to the 18th and 19th centuries.

The western end of the island is home to the prestigious community of West Bay Street. In terms of real estate options, this one is known for its spacious single-family homes and gated communities. This neighbourhood has always been attractive for high-net-worth individuals and families.

For those who are more into a more suburban lifestyle, the area of Yamacraw Hill offers a range of mid-sized homes and townhouses, catering to both local Bahamian and international homebuyers. The Bahamas Department of Statistics reports that this neighbourhood has experienced a 12% increase in property values over the past 5years.

Reasons for investing in property in New Providence

New Providence is positioning itself as a place to perform different types of international offshore financial operations and transactions. This fact helps to create demand for commercial office spaces and supporting infrastructure. The financial services industry is a growing sector in the Bahamian economy, and this region is among leaders in this sphere.

The region is known for its high-quality healthcare and attractive climate, drawing in more medical tourists seeking specialized treatments and rehabilitation services. This presents opportunities for investing in medical facilities, as well as making investment real estate in New Providence more attractive in general.

Despite the overall affluence of the Bahamas, there is a significant shortage of affordable housing options, particularly for the middle-income population. Developing well-designed and accessible residential projects can fulfil this underserved market demand.

The Bahamian government is focused on developing its "blue economy," which encompasses different types of industries like marine renewable energy, aquaculture, and ocean-based tourism. This could spur investment in specialized real estate supporting these emerging sectors.

In terms of logistics, New Providence is a true gateway, creating transportation links between:

• Latin America
• the Carribean
• North America

Together with well-developed infrastructure, this helps to achieve a massive economic growth, which tends to become a positive factor to the real estate market as well.

Buying real estate in New Providence

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