The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas has been listed as 'hands down' the top international area real estate investors should examine, according to Forbes Magazine.

The Bahamas was ranked number one out of nine jurisdictions by Forbes' Real Estate Council which is comprised of experts and executives in the real estate industry. In an August 3, article, "Nine International Areas Real Estate Investors Should Give a Look", Forbes Real Estate Council The Bahamas came out ahead of Belize, Columbia, Great Britain, Lisbon Portugal, Puerto Rico, Pune India, Tijuana Mexico and Vancouver Canada.

"The 'hands down' answer here is The Bahamas," said Engelo Rumora of List'n Sell Realty and a member of the Forbes council.

"During the global financial crisis, the first thing 'Mr. Wall St.' sold at a loss was his holiday home in the Caribbean. Not just that, but the area has been devastated with two pretty big hurricanes during the last 10 years. Common sense real estate practices indicate buying low and selling high. Now is the time to invest in waterfront Bahamas real estate."

Local realtors told Tribune Business last month there was a significant increase in business for the 2017 first half. John Christie, H. G. Christie Ltd's chief executive, said the company was enjoying "one of our best years ever" after two election results - one in the US, the other in the Bahamas - boosted market confidence. His optimism was shared by fellow realtors. Mario Carey, president and chief executive at Better Homes & Gardens MCR (Bahamas), urged potential buyers to move quickly as increased demand was beginning to drive prices upwards.

Peter Dupuch, head of ERA Dupuch Real Estate, agreed that "people sitting on the sidelines are coming to the table to pull the trigger" on potential real estate purchases, especially since the May 10 general election. He added his firm was ahead of 2016's performance although he was unable to say by how much. Mike Lightbourn, Coldwell Banker Lightbourn Realty's president, told Tribune Business: "This has been a good year as far as numbers are concerned. I'm sure we're up, I don't know what percentage, but hopefully it will get better."