Int’l buyers keeping real estate market red hot, prices high

Int’l buyers keeping real estate market red hot, prices high

Roger Pettingell Sarasota Real Estate

BE Luxury Real Estate (BELRE) is predicting a luxury property price increase between 10 percent and 20 percent as the Bahamas and Caribbean real estate markets continue to boom, a statement from the company has revealed.

BELRE principals Shamon Campbell and Aaron Davis recently closed their largest sale yet by moving a $6.3 million property near Albany.

Campbell said the first half of 2022 has been successful for the fledgling company, which is only two years old, but more successes are predicted.

Davis contends that international buyers who have been apprehensive on closing a deal, will not allow any more opportunities to pass by.

“Sellers who haven’t budged to the action yet are getting close to their breaking point and will join in the action soon,” he said.

“This should not only match the current demand, but the demand to come from buyers, who are able, but still undecided on the Caribbean.

“If the world’s wealthiest continue to spend as we’ve seen in the past two to three years, prepare for a further 10-20 percent uptick in price on luxury properties and for overlooked, non-gated areas, like oceanfront Eastern Road and beachfront Southern Shores and Adelaide to trade significantly higher.”

BELRE is focused this year on getting the deal done on an $8.1 million waterfront property in Old Fort Bay, according to the statement. The BELRE team hopes this sale will prove their position as leaders in the real estate market.

“We’re humbled by our success in the first half of 2022,” said Campbell.

“It is simply the results of our vision for local expertise and direct global relationships. Alongside our broker, H. G. Christie, we expect to continue to increase our marketing initiatives and provide an incomparable level of service to our clients.”

BELRE principals explained that international buyers will “scoop up” what properties might be left in the market as real estate in the region continues to sell at record pace.

The BELRE team said they have set their sights on expanding their footprint to Turks and Caicos and the Spanish-speaking Caribbean.

Leave a Reply

Your email address will not be published.