We’re expecting a high level of demand as the high-end market has rebounded.
Nassau, Bahamas (PRWEB) August 25, 2014
Ryan Knowles, an agent with HG Christie, which has the exclusive listing for an 11-unit condo complex at The Cliffs in Nassau’s Cable Beach, recently told Tribune Business that because of the increased international demand for luxury Bahamian real estate he expects all the units to be sold by the end of the year.
Interests in The Cliffs are partly driven by recent publicity from the neighboring $2.6 billion Baha Mar project, and other comparable properties in Nassau experiencing record growth. Some expect The Cliffs to provide a monetary boost to the economy in and around Cable Beach, similar to what Atlantis achieved for Paradise Island’s real estate market years ago.
The Cliffs’ developers, Trevor Wright and Leon Blaiweiss of Seawish Development Company, are highly experienced in high-end real estate construction,” said Mr. Knowles. “Seawish is also known for Columbus Cove and Love Beach Walk developments, and have constructed more than one hundred luxury units on New Providence including Old Fort Bay.”
In 2012 the developers, with input from HG Christie, had revised their original concept of The Cliffs by opting for a ‘quality over quantity approach’, reducing the density and number of units on the 1.5 acre site by more than fifty percent, further delaying the launch by two years.
“The Cliffs, which is located on the waterfront immediately west of Caprice and opposite Sandyport, was originally viewed as a 24-unit development with price points in the mid-$500,000s range,” Mr. Knowles mentions. HG Christie became involved to help with the planning. “The land is only so big, and we didn’t want to overload it, so we changed the concept.”
The eleven three-bed, three bath units will be 2,000 square feet in size, with prices ranging from $895,000 to $1.295 million. The larger size, coupled with swimming pool and garage facilities, are intended to increase the sales price.
The Cliffs are expecting most of its purchasers to be foreign, with some likely seeking a holiday home. With increasing numbers of European buyers seeking to relocate to the Bahamas for tax purposes and interest from Canadian and US purchasers returning, high-end property is in demand.
“We’re expecting a high level of demand as the high-end market has rebounded –Speak with anybody in high-end sales and they will tell you this year numbers are better than last,” Mr. Knowles concludes.
To read the original interview, please visit Tribune Business page. For all real estate questions, please contact HG Christie.
About HG Christie Ltd.
HG Christie is a full service real estate company in the Bahamas offering sales, rentals, appraisals, and property management. Founded in 1922 by the legendary Sir Harold George Christie, HG Christie is the Exclusive Affiliate of the prestigious Christie’s International Real Estate network, the Real Estate arm of the renowned Christie’s art auction house. The company is known as “The Trusted Authority for Bahamas Real Estate” and has an incomparable selection of property listings from across The Bahamas.
Listings include private islands, luxury estates, affordable homes, and condos, vacation villas, commercial and development properties, as well as vacant land. With eight offices strategically located throughout the Bahamas in Nassau; Freeport; Governor’s Harbour, Eleuthera; George Town, Exuma; Marsh Harbour, Hope Town, and Green Turtle Cay, Abaco: the HG Christie team of professional agents is knowledgeable, well established in their market and ready to support their client needs.