Find Your Next Home in the Bahamas with Island Property Group
The Bahamas are luxurious and naturally beautiful islands only 50 miles off the coast of Florida. Made up of hundreds of islands, 29 of these islands are inhabited. The Spaniards called the Bahamas “Baja mar,” or shallow sea, for its shallow yet transparent aquamarine waters. However, the Bahamas are no longer just a hub for sailors and sports fishermen, but now real estate that can be purchased and enjoyed just like in Florida. To truly enjoy the jewels of the Atlantic Ocean, you have to be in the Bahamas to understand. Beautiful, stable, and charming, the Bahamas are becoming a more popular home for many looking to relocate outside the United States. If this sounds like you, then you need to get in contact with Island Property Group, one of the most respected teams for buying and selling in the Bahamas.
A little background on the Bahamas: politically sound and nationally secure, the Commonwealth of the Bahamas has been independent of the United Kingdom since 1973. As a Member of the Commonwealth of Nations the Bahamas recognizes Her Majesty Queen Elizabeth as the Head of State, represented locally by the Governor-General. To keep our nation secure, Parliament constitutes our Legislative Branch, made up of a Senate and a House of Assembly. Maintaining political stability, Parliament may be responsible for laws for peace and national order, as subject to the provision of our Constitution. The Bahamas are not a group of islands where exotic adventures occur as depicted in movies and television, but a flourishing nation where prosperity and success can be found on each inhabited island.
For prospective home buyers, Island Property Group will work with you every step to help facilitate all the procedures involved in purchasing real estate in the Bahamas. Real estate transactions in the Bahamas normally begin with all parties concerned: the purchaser, the vendor, their respective attorneys, and the realtor. Once a sales agreement has been approved by all parties, the contract will be executed first by the purchase then by the vendor. The vendor’s attorney will then issue a copy of the conveyance, which is held in escrow pending the completion of the sale. Upon approval of the conveyance, the sale wraps up with the conveyance executed and the balance of the agreed purchase amount paid to the vendor. The purchaser will receive the conveyance which is sent to the government registry to be recorded.
However, before the purchaser may begin the real estate process in the Bahamas, they must first receive their Purchase Permit. As a foreigner, a Purchase Permit is required if the property is undeveloped land being five acres in size or larger and if the property is not a private residence, or not intended for development as such. To be recorded in the Registrar General’s office to own a piece of Luxury Real Estate in the Bahamas, prospective home buyers must also obtain a registration certificate along with title documents. Although this process may seem difficult, with the help of the Island Property Group, you can begin your new life in the Bahamas.
If you are not a prospective home buyer, but looking for a luxurious condominium, then you’re in luck. Island Property Group also has listings for gorgeous Oceanfront Condos that will be a great place to begin your life in the Bahamas. A benefit of a condo rather than buying a home is that you aren’t bound by the responsibilities of a mortgage, taxes, and home maintenance. If you’re looking for a fresh start but aren’t ready to purchase a home, speak to a representative from Island Property Group about a gorgeous Oceanfront Condo today!
Island Property Group has years of experience helping local buyers locate the finest properties and negotiate the best deals. It’s our job to know about the latest market conditions, government regulations, and upcoming developments — so that you don’t have to. Island Property Group will act as your Buyer’s Representative, making the process of house hunting much easier and more efficient for you. It’s our job to look after your best interests, and we will do so at no cost to you as a buyer. If you’re ready to get started, speak to a representative today by calling (407) 361-5604. We look forward to working with you!
Frequently Asked Questions
What services does Island Property Group provide for Bahamas buyers?
Island Property Group (IPG) is a member of the Bahamas Real Estate Association (BREA) and provides full-service brokerage across the Bahamas and wider Caribbean. Services include property search across the BREA MLS, buyer representation through negotiation, coordination with licensed Bahamian attorneys for title work and conveyance, guidance on the International Persons Landholding Act registration, and post-closing support including property management referrals, Economic Permanent Residence application coordination, and rental program setup. IPG’s portfolio spans Bahamas, Turks & Caicos, and expanding Caribbean markets.
Do I need a real estate agent to buy property in the Bahamas?
You are not legally required to use an agent, but it is strongly advised for foreign buyers. A licensed BREA agent provides access to the BREA MLS (the authoritative Bahamas listing database), negotiates on your behalf, coordinates with your attorney, and ensures compliance with the International Persons Landholding Act. Commission in the Bahamas is customarily 6% plus 10% VAT, paid by the seller on improved property. Because the seller pays the commission, buyer representation is typically free to the buyer. Attempting to buy without local representation exposes buyers to title issues, overpricing, and IPLA registration errors.
How does financing work for foreign buyers in the Bahamas?
Most foreign buyers pay cash. Bahamian banks do offer mortgages to non-residents, but loan-to-value ratios are conservative — typically 60% to 70% maximum for non-residents, compared to 80% to 95% for Bahamian citizens. Interest rates for non-residents run several points above US mortgage rates. Documentation requirements are heavy: proof of income for two years, bank statements, credit history, and a Bahamian guarantor is sometimes required. Alternative paths include financing against US assets, home-equity lines on a US primary residence, or private lending. The cash-only pattern is why 60-to-90-day closings are standard in the Bahamas.
What happens after I close on a Bahamas property?
Three post-closing tasks matter. First, the conveyance is registered with the Registrar General’s Department and the acquisition is registered with the Investments Board under the International Persons Landholding Act — your attorney handles this. Second, you are assigned a Real Property Tax assessment number and begin receiving annual tax bills; pay by March 31 for a 10% discount. Third, if you want to rent the property short-term, register on the Department of Inland Revenue’s vacation rental portal, obtain a Business License, and begin collecting 10% VAT and 10% Hotel Guest Tax. If the property exceeds $1 million, you can apply for Economic Permanent Residence.