When you picture The Bahamas, your mind likely conjures images of pristine white sand and water so impossibly clear it seems to glow. For many, this vision centers on a specific, jewel-like chain of islands known as the Exumas. Spanning over 120 miles, the Exumas are a collection of 365 cays and islands, a scattered necklace of land draped across the Tropic of Cancer. Investing in real estate here is more than just buying property; it is acquiring a stake in a unique and tranquil way of life.
This article serves as a practical guide for those considering a property purchase in the Exumas. We will navigate the geography, explore the types of properties available, understand the financial and legal processes, and look at the realities of life in this stunning corner of the world. The goal is to provide you with a clear, factual foundation to help you determine if Exuma real estate is the right choice for your goals.
Before you can find the right property, you must first understand the landscape. The Exumas are not a single, monolithic entity. They are a diverse archipelago where each area offers a different experience. Navigating this geography is the first step in your real-esate journey. The chain is like a long, winding river, with different currents and depths along its course.
The Three Main Areas: Great Exuma, Little Exuma, and the Cays
The Exumas are generally divided into three distinct regions. Your lifestyle preferences and budget will heavily influence which area is most suitable for you.
- Great Exuma: This is the largest island in the chain and acts as the central hub. George Town, the capital, is located here and is home to the Exuma International Airport (GGT), which receives direct flights from several major cities in the US, Canada, and from Nassau. Great Exuma has the most developed infrastructure, including the main government administration building, a hospital, grocery stores, banks, and a variety of restaurants and shops. Real estate here is diverse, ranging from residential lots and single-family homes in planned communities to beachfront villas and condominiums. If convenience and access to amenities are high on your list, Great Exuma is the logical starting point for your search.
- Little Exuma: Connected to Great Exuma by a small, one-lane bridge known locally as “The Ferry,” Little Exuma offers a quieter, more rustic feel. The pace of life slows even further here. The island is known for its incredibly beautiful beaches, such as the world-famous Tropic of Cancer Beach. It is also home to Williams Town, a historic salt-farming settlement. Properties on Little Exuma are often more spread out, with a focus on larger lots and homes that prize privacy and a direct connection to nature. While it feels a world away, you are still only a 20- to 30-minute drive from the amenities of George Town.
- The Exuma Cays: This is the string of smaller islands stretching north from Great Exuma towards Nassau. The Cays are what many people envision when they think of the exclusive, celebrity-owned Bahamas. This region includes the Exuma Cays Land and Sea Park, a protected marine reserve. Many of the cays are privately owned, while others host boutique resorts or small, exclusive residential developments. Real estate in the Cays is at the highest end of the market and includes luxury villas on islands like Staniel Cay or Musha Cay, and in some cases, the opportunity to purchase an entire private island. Access is primarily by private boat or seaplane.
Accessibility and On-Island Infrastructure
Getting to and around Exuma is a key consideration. As mentioned, the international airport in George Town is the main gateway. Once on Great Exuma, the Queen’s Highway is the primary artery, running the length of the island and down into Little Exuma. It is a simple, two-lane road that connects all the major settlements.
Utilities such as electricity, water, and internet are available, particularly on Great and Little Exuma. However, it’s important to set realistic expectations. Power outages can occur, especially during storms, and many homeowners invest in backup generators. Internet speeds, while improving, may not match what you are used to in a major metropolitan area. On the more remote Cays, property owners often need to be completely self-sufficient, relying on solar power, rainwater collection systems, and satellite internet.
The Spectrum of Property: What Can You Buy in Exuma?
The Exuma real estate market offers a surprisingly broad range of options. Your choice will depend on your budget, how you plan to use the property, and your tolerance for construction and maintenance. The market is not just a single product, but a portfolio of different opportunities.
Vacant Land and Building Your Vision
For those with a specific vision, purchasing a vacant lot offers a blank canvas. This is your opportunity to design and build a home tailored precisely to your tastes. Land is available in various sizes and locations, from quarter-acre lots within a residential community to multi-acre beachfront or ocean-view parcels.
When considering land, key factors include access to utilities (is electricity at the lot line, or will you need to extend it?), elevation (important for views and storm protection), and zoning regulations. The building process in The Bahamas requires navigating permits and working with local architects and contractors. While it demands more effort and patience, the result is a home that is truly your own.
Single-Family Homes and Villas
This is the most common category of real estate in Exuma. The inventory includes everything from charming, traditional Bahamian cottages to sprawling, modern luxury villas. Many homes are designed to maximize the indoor-outdoor lifestyle, with large verandas, swimming pools, and direct beach access.
When evaluating a home, look at its construction (concrete block is common and durable), its age, and the condition of its roof and systems. Properties with private docks are highly sought-after by boating enthusiasts, as a boat is the key to unlocking the full Exuma experience. These homes can be found throughout Great and Little Exuma, with prices varying significantly based on location, size, and proximity to the water.
Condominiums and Resort Residences
If you prefer a low-maintenance, “lock-and-leave” lifestyle, a condominium might be the ideal choice. Several resort-style developments, primarily on Great Exuma, offer condos and townhomes with shared amenities like swimming pools, restaurants, fitness centers, and professional property management.
These properties are often eligible for inclusion in a managed rental program, allowing you to generate income from your unit when you are not in residence. This can be an effective way to offset the costs of ownership. It provides the benefits of owning a home in Exuma without the day-to-day responsibilities of maintaining a standalone property, such as landscaping and pool care.
Private Islands: The Ultimate Acquisition
At the pinnacle of the Exuma market is the private island. This is a complex and significant investment, reserved for a select few. Purchasing an island involves more than just buying land; it is about creating a self-sustaining world. Considerations include generating power, sourcing fresh water, managing waste, and building all necessary infrastructure, from docks to staff housing. The legal and logistical hurdles are substantial, but for those with the resources, owning a private cay in the Exumas is the ultimate expression of privacy and exclusivity.
The Financial Landscape: Costs and Considerations
Buying property in a foreign country requires a clear understanding of all associated costs, both at the time of purchase and for ongoing ownership. The Bahamas has a transparent system, but it is different from what you might be familiar with in your home country.
A Look at Property Prices
Property prices in Exuma vary widely. An undeveloped inland lot might be available for under $100,000. Condominiums typically start in the mid-six figures and can go well over a million dollars depending on the development and view. Single-family homes on or near the water generally start in the high six figures and can easily climb into the multi-millions for luxury estates. Private islands are the most expensive, with prices starting in the millions and reaching tens of millions of dollars. These are general ranges, and market conditions can cause them to fluctuate.
Understanding Government Taxes and Fees
When you purchase property in The Bahamas, there are two primary government charges to be aware of.
- Value Added Tax (VAT): On real estate transactions, VAT is levied on the purchase price. The rate is shared between the buyer and the seller. The first $100,000 of the value is taxed at a lower rate, and the portion of the value above $100,000 is taxed at a higher rate. A local attorney will calculate the exact amount for your transaction.
- Real Property Tax: This is an annual tax paid by property owners. The rate depends on the assessed value of your property and whether it is undeveloped land, a primary residence, or a rental property. The Bahamian government offers a cap on the annual property tax for owner-occupied residences, which keeps the ongoing tax burden predictable for many homeowners. Non-Bahamians pay a higher rate than Bahamians, so it’s crucial to get an accurate estimate of this annual cost.
The Cost of Living and Maintenance
Beyond the purchase price and taxes, you must budget for the ongoing costs of owning and maintaining your property. As an island chain, nearly all goods must be imported, which means groceries, fuel, and building materials are more expensive than in the United States or Canada.
Property insurance is a significant and mandatory expense, especially if you have a mortgage. Policies must include hurricane coverage, and premiums will reflect the property’s location and construction. Other costs include electricity, water, internet, landscaping, pool maintenance, and potentially property management fees if you are not a full-time resident.
The Legal Process of Buying Property in The Bahamas
| Legal Process Steps | Description |
|---|---|
| 1. Offer and Acceptance | Buyer makes an offer, seller accepts or negotiates |
| 2. Sales Agreement | Both parties sign a sales agreement |
| 3. Title Search | Investigation of property’s ownership history |
| 4. Conveyance | Transfer of property ownership through a deed |
| 5. Stamp Duty | Payment of government tax on property transfer |
| 6. Registration | Property deed is registered with the government |
The Bahamian government welcomes foreign investment in real estate, and the process is well-established and secure. It is, however, essential to follow the correct legal procedures with the help of qualified professionals. Your journey to ownership is a well-trodden path, with clear signposts along the way.
Finding a Reputable Real Estate Agent
Your first step should be to engage a licensed real estate agent who is a member of the Bahamas Real Estate Association (BREA). A good local agent provides invaluable knowledge of the market, understands the nuances of different neighborhoods and cays, and can guide you to properties that match your criteria. They act as your navigator in these new waters.
The Offer and Agreement for Sale
Once you have identified a property, your agent will help you prepare a written Offer to Purchase. If the seller accepts your offer, the next step is for a Bahamian attorney to draft an Agreement for Sale. This is a legally binding document that outlines all the terms and conditions of the sale, including the price, closing date, and any contingencies. Upon signing the Agreement, the buyer typically pays a deposit (usually 10% of the purchase price), which is held in escrow by the seller’s attorney.
Due Diligence and Title Search
This is perhaps the most critical stage of the process, and it is handled by your attorney. They will conduct a title search at the Registry of Records to ensure the seller has good, marketable title to the property. This search confirms that the seller is the legal owner and that there are no outstanding mortgages, liens, or other claims against the property that could affect your ownership.
Closing the Transaction
Once your attorney is satisfied with the results of the title search, you can proceed to closing. At the closing, you will pay the balance of the purchase price and your portion of the VAT. The seller will sign the deed of conveyance, which is the legal document that transfers ownership of the property to you. Your attorney will then register the conveyance with the Bahamian government, officially recording you as the new owner of the property. For non-Bahamians purchasing property over two acres, a permit from the Bahamas Investment Authority may be required.
Life in Exuma: Beyond the Property Lines
Owning real estate in Exuma is an invitation to a different rhythm of life. It’s important to understand this lifestyle to ensure it aligns with your expectations. A beautiful house on the wrong island for your personality is not a successful investment.
The Pace of Life and Community
Life in Exuma operates on “island time.” Things move more slowly, and a relaxed, patient attitude is essential. The community is a friendly mix of native Bahamians, long-term expatriates, and seasonal second-home owners. It is a place where neighbors know each other, and social life often revolves around informal gatherings, boating excursions, or local events like the annual Family Island Regatta. It is a lifestyle that encourages you to unplug from the constant connectivity of modern life and connect instead with your surroundings and your community.
Activities and Recreation
The water is the main attraction and the central focus of recreation. Boating is not just a hobby; it is the primary way to explore the hundreds of cays and hidden beaches. You can spend your days fishing for bonefish on the flats, deep-sea fishing for marlin, snorkeling over vibrant reefs, or diving into underwater caves like the famous Thunderball Grotto. Of course, visiting the iconic swimming pigs at Big Major Cay is a popular excursion. On land, you can explore historic settlements, enjoy the local cuisine (especially fresh conch salad), and simply relax on some of the most beautiful beaches in the world.
Practicalities: Schools, Healthcare, and Shopping
It is important to be realistic about the services available. Great Exuma has a government-run hospital that can handle common medical issues and emergencies, but for serious conditions or specialized care, patients are typically airlifted to Nassau or Florida. There are a few private medical clinics as well.
Educational options are limited, with a few public schools and small private schools. Families with school-aged children often consider homeschooling or boarding school options for higher grade levels. For shopping, George Town has several well-stocked grocery stores, but the selection of other goods is limited. Many residents make periodic shopping trips to Nassau or Florida or use freight forwarding services to ship items to the island.
In conclusion, purchasing real estate in the Exumas is a significant undertaking that requires careful research and planning. It is a decision that involves weighing the allure of unparalleled natural beauty against the practical realities of island life. For the well-informed buyer who seeks tranquility, a deep connection to the ocean, and a welcoming community, owning a piece of Exuma can be a sound investment not just in property, but in a quality of life that is increasingly hard to find. It is an opportunity to drop anchor in a place that is truly extraordinary.
If you are interested in exploring real estate opportunities in Exuma, Bahamas, you may want to check out the listings available on Sarles Realty website. In addition to properties in Exuma, Sarles Realty also offers apartments in New York. Whether you are looking for a vacation home in the Bahamas or an investment property in the city, Sarles Realty has a variety of options to suit your needs. Visit their website to browse their listings and find the perfect property for you.
FAQs
What types of real estate are available for sale in Exuma, Bahamas?
There are various types of real estate available for sale in Exuma, Bahamas, including beachfront homes, waterfront properties, vacant land, condos, and private islands.
What are the average prices for real estate in Exuma, Bahamas?
The average prices for real estate in Exuma, Bahamas vary depending on the type of property and its location. Beachfront homes and private islands tend to be more expensive, while vacant land and condos may be more affordable.
Are there any restrictions for foreigners purchasing real estate in Exuma, Bahamas?
Foreigners are allowed to purchase real estate in Exuma, Bahamas, and there are no restrictions on foreign ownership of property. However, it is recommended to work with a local real estate agent or attorney to navigate the purchasing process.
What are the popular areas for real estate investment in Exuma, Bahamas?
Popular areas for real estate investment in Exuma, Bahamas include Great Exuma, Little Exuma, and the Exuma Cays. These areas offer a range of properties with stunning ocean views and access to amenities.
What are the key considerations for buying real estate in Exuma, Bahamas?
Key considerations for buying real estate in Exuma, Bahamas include understanding the local market, working with a reputable real estate agent, conducting thorough due diligence, and considering factors such as proximity to amenities and potential for rental income.
