bahamas property market slow until second half of next year
News Posted On: 29 May 2009
The Bahamas property market is not expected to see normal levels of activity from foreign buyers until the second half of next year, according to overseas property portal, Property Abroad.com.
Like many other place where property is on the expensive side -- perhaps most notably Cote D'Azur -- have been severely crippled by the international downturn, or rather the way it has stripped away the riches of the wealthy, said Les Calvert, director of the portal.
"The Bahamas has experienced a massive decline in the number of British buyers, and those from around the world since e international downturn began. There are more foreigners trying to sell property than there are considering buying," he continued.
"There is a downward pressure on prices however, so those who have been eyeing property in such a beautiful destination as the Bahamas will be unlikely to get as good a bargain again as they will now should they be willing to barter," Les added.
Property Abroad are currently advertising dozens of properties for sale in the Bahamas, from a 2 bedroom condo on the Pineapple Point Resort priced at £265,500 to a 2 bedroom condo on the Great Exuma Island priced at £663,000.
"We are still listing original prices, because the Bahamas has always been lifestyle buyer fuelled and sellers are hoping to get the price they want. Anyone looking for a bargain is welcome to call us and find out which have been on for the longest and make the sellers an offer," concluded Les.
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