The anticipated soft opening of Baha Mar tomorrow appears to have boosted rentals in the vicinity of the $4.2 billion mega-resort and its opening is expected to have a significant impact on the Bahamian real estate market going forward, said President of C.A.Christie Real Estate Charles Christie.
In an interview with Guardian Business yesterday, Christie pointed out that people have started to show an interest in buying properties in Cable Beach and the general area around Baha Mar.
He contended that the opening of the resort would be significant to the real estate market.
Christie said that his company would be releasing a video next week Tuesday on the benefits of Baha Mar as it relates to The Bahamas’ real estate market.
Baha Mar’s soft opening is tomorrow and the resort has managed to reach its quota of 1,500 staff members.
Outside of Baha Mar, Christie said the real estate market in the country is showing signs of improvement. “It is now beginning to look encouraging. We have gone through some very difficult times as you know,” he said.
“Investors are coming in and they are buying nice homes. There are some investments they are doing on the Family Islands.
“It is very promising. The economy, I think, has turned the coin.”
The real estate veteran noted that quite a few investors have been coming out of South America and there are a few coming out of Europe. But he said the bulk of the activity is coming out the United States. “There are also a couple of Canadians looking for investments here,” Christie added.
“Overall, it is coming back. The economy is getting better and I don‘t think this is going to be a hiccup. It is going to continue for a while unless something unforeseen happens.”
(Source- The Nassau Guardian)