The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Bahamas Real Estate Association’s (BREA) president yesterday said its Multiple Listing Service (MLS) is “catching on”, with just under 1,500 active property listings currently.

“The Bahamas MLS is fantastic,” said Christine Wallace Whitfield. “We encourage all of our licensed members to be on the MLS feed. I think we are putting that as a mandate that you have to have the MLS feed. It really makes it easier for you to look and search for properties.

“Right now, in terms of active listings we have just under 1,200 on the residential side and, on the commercial side, we have 251 active, so we have just under 1,500 active listings. It’s building because it used to be a few hundred, but now everyone is catching on and realising it is a win-win situation.”

Mrs Wallace Whitfield said 2017 has been “quite good” for the Bahamian real estate market, and added: “With the new administration I think that a lot of people are looking positively at everything now as well. I have also noticed that one or two of the banks have had some really good promotional interest rates on lending.”

She added that the Family Islands have been garnering increased buyer interest, and said: “A lot of foreign buyers know exactly what it is they want when they contact realtors in the Bahamas.

“Yes, they want Nassau and Paradise Island, but they also want that vacation home far away and that island life. The Out Islands are picking up a little bit, but I am sure that in 2018 we will really see more progress and growth for the Out Islands with sales.”