The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

THE president of the Bahamas Real Estate Association said real estate sales in the country are on the rise and the trend is continuing.

“Real estate in The Bahamas is going very well,” Christine Wallace-Whitfield said. “Since COVID it has really taken a surprisingly great turn for a lot of the real estate members. “Everyone has really kind of given kudos to the market.

“So being in the real estate field one cannot complain. We have been really enjoying that moment with the increase in sales and it is still continuing.”

According to Ms Wallace-Whitfield, Freeport is also seeing some favourable activity in sales.

“I understand that as well that Freeport is seeing a little bit of excitement with some of the real estate sales. For me, having lived in Freeport for 15 years in the real estate field, it is so good to know that there is a glimmer of hope. So, this is very exciting,” she added.

Grand Bahama is known for its residential developments. However, the island is still recovering since Hurricane Dorian, and many homeowners are in the rebuilding and restoration stage.

Ms Wallace-Whitfield said it is definitely a buyer’s market in Grand Bahama.

“There are a lot of people looking to get away from their situations and because of COVID I think it has made a lot of foreigners and people aware and think it is time to invest.”

She said people are looking for a warm and sunny place, with beautiful waters and sand. “They look to The Bahamas and that has been a great thing for the real estate industry, for sure,” she said.

When asked about interests from New Providence regarding real estate in Grand Bahama, Ms Wallace-Whitfield said that definitely there has been an increase for investment by the local market.

“I think it is so important for Bahamians to invest in land and property if it is feasible for them. I just always urge and stress to Bahamians that if you can afford it, it is so good to buy a piece of the rock. It is a beautiful country and land can only increase in value.”

Her advice to people wanting to purchase land is “make sure you do (your) homework, due diligence, and make sure you get and seek a licensed professional real estate agent who can guide you through the process making sure that you are purchasing in the area that you want.”