The Bahamas real estate market is poised to achieve growth in 2018 according to agents based in the archipelago.
2018 Property Sales Set to Surpass 2017
According to a report published by Tribune Business, real estate agents in The Bahamas are confident that sales volumes of real estate in The Bahamas will surpass levels achieved in 2017.
According to one agent quoted in Tribune Business, sales were up by more than 40% in 2017. Another said that sales doubled in 2017.
These agents believe that property sales will grow even more this year.
Strong US Economy Driving Increase in Bahamas Real Estate Sales
Bahamas real estate agents are attributing their confidence in the market to factors such as the US stock market which has been at a record high, the strength of the US economy and the continuing appeal of The Bahamas for permanent residency.
“So far it looks to be shaping up to be a very good year,” the agent commented.
The Trump tax cuts were also cited as a factor which may deliver a “wealth effect” which could provide a further boost to the Bahamas property market.
“The US stock market and economy is definitely driving it, and giving encouragement for Americans to invest overseas,” one agent suggested.
Agents Optimistic for Growth in 2018
“I think we’re looking good. I think it’s about as optimistic an outlook as we have faced for many years. It’s a good time for people to buy,” another commented.
“I am extremely optimistic and encouraged by what is going on, and we’ll definitely have a good year in real estate in 2018.”