Real Estate in Nassau, Bahamas
Last updated on Jun 05, 2023
Summary: The average cost of a nice 2 bedroom home in Nassau, Bahamas is around $250,000 USD. These properties typically include a kitchen, living room, two bedrooms, and one or two bathrooms. Amenities may include a pool, patio, and/or a garden. The average cost of a nice 3 bedroom home in Nassau is around $400,000 USD. These properties typically include a kitchen, living room, three bedrooms, and two bathrooms. Amenities may include a pool, patio, and/or a garden. Foreigners are allowed to own property in Nassau. However, they must obtain a permit from the government before they can purchase a property. The best way for an expat to search for a home to buy in Nassau is to use a real estate agent. They can help you find the right property for your needs and budget. The most desirable neighborhoods in Nassau are Cable Beach, Lyford Cay, Old Fort Bay, and Paradise Island. These areas offer a variety of amenities, including beaches, restaurants, shopping, and entertainment.
How do I find a place to live in Nassau?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"We use a real estate agent. We choose the western side of the island, no traffic! But of course it depends where your office is located," explained one expat living in Nassau, Bahamas.
"One of the best ways to find a place to live in Nassau is to search online for rental listings. There are many websites that offer listings for apartments, houses, and other types of rental properties in the area. Additionally, you can contact local real estate agents who specialize in the Nassau area to help you find a place to live. You can also look for rental postings in local newspapers and on bulletin boards in the area. Finally, you can ask friends and family who live in Nassau for recommendations," said one person in Nassau.
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What is a typical expat home or apartment like in Nassau?
"Expat homes and apartments in Nassau are typically luxurious and spacious, with modern amenities and plenty of outdoor space. Many of the homes and apartments have stunning views of the ocean, and many feature private pools and outdoor patios. Expats can also find homes and apartments with access to private beaches, marinas, and golf courses. The interiors of these homes and apartments are often decorated with bright colors and tropical accents, and feature high-end appliances and fixtures," said one person in Nassau.
"I live in a gated community with a pool. It's a townhouse style condo and the complex of 20 units is made up almost entirely of expats," said one expat who made the move to Nassau.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Nassau?
If you are thinking about moving to Nassau, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Nassau varies depending on the type of property and its location. Generally, the average cost of a single-family home in Nassau is around $400,000, while the average cost of a condo or apartment is around $200,000. Prices can be higher or lower depending on the size and condition of the property," said one expat who made the move to Nassau.
"Much much much higher. It varies. USD 3,000 per month will get you a decent apartment. USD 7,000 per month will get you a big house," explained one foreigner living in Nassau, Bahamas.
Should I buy or rent a home in Nassau?
If you have not spent a lot of time in Nassau, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"We rented at first to make sure we were happy here. We later bought a home and both options work well. For the residency documents you can use either a rental lease or a property deed but the minimum value has changed over the years," explained one person living in Coral Harbour, Bahamas.
"Buying a home in Nassau can be a great investment. The cost of living is relatively low, and the area is known for its beautiful beaches and warm climate. However, it is important to consider the cost of purchasing a home in the area, as well as the cost of upkeep and maintenance. Renting a home in Nassau can be a great option for those who are not ready to commit to buying a home, or who are looking for a more flexible living situation. Renting can also be a great way to explore the area and get to know the local culture before making a long-term commitment," said one expat in Nassau.
What do I need to know when buying property in Nassau?
When we asked expats what advice they would give a foreigner before buying a property in Nassau, they said:
"Above all I suggest renting when you first arrive and take the time to learn the island and make contacts before buying into anything. You will discover that some areas are much more desirable than others. The maintenance cost can also be drastically different depending on where you are located, remember that Nassau is subject to hurricanes and hurricane insurance is quite expensive," explained one expat in Nassau.
"When buying property in Nassau, it is important to research the area and the local market to ensure you are making a sound investment. It is also important to understand the local laws and regulations regarding property ownership, as well as any taxes or fees associated with the purchase. It is also important to work with a qualified real estate agent or lawyer to ensure the transaction is handled properly. Additionally, it is important to consider the cost of living in the area, as well as any potential risks associated with owning property in the Bahamas," explained one person living in Nassau, Bahamas.
Are foreigners allowed to own property in Nassau?
When we asked expats what advice they would give a foreigner before buying a property in Nassau, they said...
"Yes, foreigners are allowed to own property in Nassau. The government of the Bahamas encourages foreign investment in real estate, and there are no restrictions on foreign nationals owning property in the country. However, non-Bahamians must obtain a permit from the Bahamas Investment Authority if they wish to purchase more than two acres of land or if the property is to be used for commercial purposes. Additionally, foreign buyers must register their property with the Foreign Investments Board and the Central Bank of the Bahamas," remarked one foreigner who made the move to Nassau.
What appliances are typically included in a rental?
We asked foreigners in Nassau what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Most rentals are completely furnished with all the main appliances necessary to live. It was hard to find a rental property where we could put our children's room set. Many of the properties are set up for vacationers so much of the furniture is whicker and cheap. A well furnished home is out there, but must be looked for," explained one person living in Nassau, Bahamas.
"Rental properties in Nassau typically include a refrigerator, stove, oven, dishwasher, washer, and dryer. Other common appliances may include a microwave, toaster, and coffee maker. Depending on the property, air conditioning units may also be included," said one expat in Nassau.
Additional Information about Searching for a Home in Nassau:
We asked foreigners in Nassau what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Nassau often begin by browsing online real estate websites and local classifieds to get an idea of the housing market. They may also join expat forums and social media groups to seek advice and recommendations from fellow expats who have already gone through the process. Additionally, expats can reach out to local real estate agents who have experience working with foreigners and can help navigate the local housing market. Visiting Nassau in person to explore different neighborhoods and attend open houses can also be beneficial in finding the perfect home. Finally, networking with locals and other expats can lead to potential housing opportunities that may not be advertised online," wrote one expat who made the move to Nassau.
" Thre are a lot of real estate companies here. Some of the better ones I have dealt with are: Adam Duncombe of ERA Dupuch Real Estate Marilyn Ayearst-Hartley of Bahamas Islands Realty Gavin Christie of C.A. Christie Real Estate and Claire Thackray of Mccarroll Real Estate Of course that is not to say the rest are all no good but I have come across some shady ones and so prefer to stick with the ones I know are honest and helpful. If you are looking to rent, you probably better off just asking around. Everyone knows people with homes for rent to expats and you will get a better deal not going through a real estate agent, just make sure you have a qualified person look over the lease agreement. If you want to build, speak directly with the builders, ask around to get the names of good ones. If you plan on building in a gated community the association can normally help you with finding a good builder as they don't want poorly developed homes in their community. ," explained one foreigner living in Nassau, Bahamas.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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