island Living - The Bahamas Investor
Transcription
island Living - The Bahamas Investor
island Living COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY nassau and the bahamian out islands special bahamas real estate supplement island living S2 Island Living island living Dream homes in paradise Some people just know how to live Casa DeLeon, Ocean Club Estates COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY S ome people really know how to live. Just take a look at some of the palatial estates in Lyford Cay, Old Fort Bay and on Paradise Island. They all have a “wow” factor, because they express the utmost in luxury, architectural style and discerning taste. They also fulfill, it should go without saying, the venerated prerequisite of real estate: “location, location, location.” So if you demand nothing but the best, and if money is no object, you can begin and end your search for the home of your dreams right here. Certain residential areas have been synonymous with luxurious living for a long time. The apex of the real estate pyramid, most agree, is Lyford Cay in western New Providence, although other enclaves vie for a close second. Developed in the 1950s, this gated community is still considered to be one of the most exclusive addresses on the island, if not in the entire Caribbean area. Residents with substantial assets both old and new enjoy a private golf course, a spacious marina and lavish canalfront and beachfront homes with spectacular views. More high-end properties are located on Eastern Road along the shoreline east of Nassau proper, an Island Living S3 COURTESY SEAVIEW PROPERTIES island living Home on the golf course at Ocean Club Estates area long inhabited by old Bahamian families of means and wealthy expats. Other residences for the well heeled can be found on Cable Beach; on Skyline Drive along the north shore of Lake Cunningham, just south of Cable Beach; and on the beachfront between Cable Beach and Lyford Cay. Cable Beach home S4 Island Living COURTESY BAHAMAS REALTY LTD Opulent properties And then there’s incomparable Paradise Island, a well-named place for some of the most opulent properties, many of them a bold statement of the ultimate in luxury. Like other marquee residences on New Providence, some of these include private docking for your yacht, staff quarters, guest houses, designer swimming pools and many custom-crafted appointments. One of the showpiece homes for sale there now is named Casa DeLeon, located in prestigious Ocean Club Estates on 120 ft of beachfront. The very picture of luxury, this 9,500 sq ft home has five bedrooms, 61⁄2 bathrooms, a 25-ft atrium with floorto-ceiling windows overlooking an infinity-edge swimming pool, a stateof-the-art media room and what the listing agency describes as “every possible luxury.” Ocean Club Estates offers homeowners the use of a golf course, tennis courts, a marina, a beach club and the facilities at the One&Only Ocean Club and the Atlantis resort. The price tag for Casa DeLeon? A steal at $18 million. Another custom-built beachfront home for sale in Ocean Club Estates is a classic two-storey Mediterranean-style residence with four bedrooms and 41⁄2 bathrooms in a 6,200 sq ft floor plan. Desirably located on a cul-de-sac, it affords a panoramic view of the beach and sea and includes an infinity pool, a grand staircase leading to a master suite that covers most of the second floor, a home office, a two-car garage and lush landscaped grounds. It’s listed at $8,995,000. If you’d prefer to spend less money to live in this part of Paradise Island, but not on the beach, you could buy COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY island living Casa DeLeon, Ocean Club Estates Island Living S5 Beach cabana at Creek House, Old Fort Bay S6 Island Living COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY Creek House, Old Fort Bay a four-bedroom, 41⁄2-bath residence built in 2003 on the second hole of the Tom Weiskopf-designed golf course, near the clubhouse. This posh 4,300 sq ft home features a long covered porch that overlooks the expansive pool and deck area and the golf course, a master bedroom with a stonefinished bathroom featuring a whirlpool and deck and a double garage with guest quarters above. You can buy this tropically landscaped property for $3.8 million. Something more sedate Although Paradise Island offers dream homes aplenty, you may prefer to live on the more sedate side of New Providence, on the northwest coast, where you could enjoy living in a grand Old Fort Bay residence. One premier home for sale here sits COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY island living island living Seaview Properties, tel 327-1566, e-mail [email protected], or visit www.seaviewproperties.bs. Creek House, Old Fort Bay on an oversized 1.5-acre beach-tocanal parcel, overlooking 225 ft of scenic beachfront. This 7,000 sq ft home includes five bedrooms and 51⁄2 bathrooms, live-in maid’s quarters, a media room and a second-floor study with a panoramic view, along with his-and-her bathrooms in the master suite and his-and-her offices. The property extends to a canal, where the owners can tie up their yacht. The listing price? $12 million. Another distinctive Old Fort Bay mansion is a two-storey colonial located on Canal Beach. Amenities include a large swimming pool, two guest suites with terraces, a double garage with a gardener’s room, a 1,500 sq ft guest suite with a full kitchen above the garage and a dock with a boat lift. All this can be yours for $4.5 million. If a $17 million price doesn’t give you sticker shock, then you can buy a sprawling, one-of-a-kind Old Fort Bay estate called Creek House, situated on 2.5 acres between the sea and mangrove-fringed canals. This secluded property has the ambience of a private island. It includes 10,000 sq ft of living space in a main house, guest house, guest cottage and staff apartment, all connected by winding paths and vine-covered breezeways. Sun decks, patios and verandas surround a tropical central garden with a pool, and a path through a terraced woodland garden leads to two thatch-roofed beach cabanas. The property also includes a 60-ft dock on a deepwater canal. Real estate prices for properties like these may seem stratospheric, but the numbers have dropped significantly since 2008, when the recession first gripped the world. Before then, prices were overinflated, especially in the high end of the market. Buyers can now acquire properties priced at a more realistic level. COURTESY DAMIANOS SOTHEBY’S INTERNATIONAL REALTY Caves Heights, tel 327-8867, e-mail [email protected], or visit www.cavesheights.com. Damianos Sotheby’s International Realty, tel 322-2305 or 362-4211, e-mail [email protected], or visit www.SIRbahamas.com Bahamas Realty, tel 396-0000, e-mail [email protected], or visit www.BahamasRealty.bs. Sales have remained fairly strong in some specific areas. “Paradise Island has had good sales, in many cases at reduced prices,” one realtor says, citing Ocean Club Estates as a particularly hot spot. Whatever the cost of your fantasy home may be, all realtors agree that this is an opportune time to buy a dream home in The Bahamas. Note: The availability and prices of homes listed in this article were in effect at the end of 2010 and are subject to change. For complete archives Visit us online Island Living S7 CAVES HEIGHTS $595,000 Reference: #3845 • 2 Bedrooms, 2½ Bathrooms • Ocean View • Living Area: 1,850 sq ft [email protected] • 242-359-2957 OCEAN CLUB - PARADISE ISLAND $7,500,000 Reference: #4063 • 6 Bedrooms, 6 Bathrooms • Golf Course View • Living Area: 7,500 sq ft • Land Size: 29,865 sq ft [email protected] • 242-359-2957 OLD FORT BAY $3,700,000 Reference: #4079 • 5 Bedrooms, 4½ Bathrooms • Infinity edge pool • Vast outdoor living and dining area • Dock with ipe decking [email protected] OCEAN CLUB CONDOMINIUMS PARADISE ISLAND Starting at $2,195,000 Reference: #3082 • 3 Bedrooms, 3½ Bathrooms • Harbour and Golf Course Views • 3,100 sq ft [email protected] • 242-477-7027 ©ISTOCKPHOTO.COM/AYZEK island living Hunting for a mortgage? Local banks can help expat homebuyers L ocal banks, including RBC Royal Bank, Scotiabank and FirstCaribbean, offer mortgages to expat home buyers. It’s best to shop around because there is considerable variation in the types of loans offered and who may apply. Interest rates also vary but are normally tied to either the London Interbank Offered Rate (LIBOR) or the US prime rate, adjusted according to an assessment of the homebuyer’s creditworthiness. Other costs involved in obtaining a mortgage are typically the same as those that apply in the expatriate’s home country. These may include legal fees, costs involved in having the property appraised, costs for the title search on the property, for registration of the mortgage, creditor life insurance premiums and comprehensive all-risk property insurance. S10 Island Living According to representatives for the banks, the demand for home loans by expats remains robust, despite continued uncertainty in the global economy. Non-residents–including expatriates living in The Bahamas under a work permit–can access financing from FirstCaribbean International Bank under the bank’s International Mortgage offering. The bank offers mortgages of up to 70 per cent of the property’s value, up to $2.5 million. Loans in excess of $2.5 million are offered at 60 per cent of the property’s value. For construction loans, the loanto-value percentages are different. These are 70 per cent for homes being constructed in Nassau, Freeport or Abaco and 50 per cent for homes being constructed on the other Family Islands. Consideration is given to the equity, which the individual has in the property, and this allows for an increase in the amount being advanced. Buyers seeking mortgages are required to provide supporting documents, including confirmation of income for the past three years, bank statements for the previous six months, a credit bureau report, a property valuation report and a copy of the signed purchase agreement. With these documents in hand, a credit team examines all the information and, if the mortgage is approved, a letter of commitment– containing the terms and conditions of the loan–is sent to the buyer. If the buyer accepts, attorneys are briefed, and the sale can go forward. Another bank tapping into this market is Scotiabank, which offers a non-residential mortgage service called the Vacation Home Buyers island living Programme. This service, which is open to residents of the UK, Canada and the US, offers mortgages of up to $2.5 million with a term of 25 years. Expatriates who prefer to build rather than buy can access the bank’s Residential Lot Purchase programme –which provides loans of up to $750,000 or 50 per cent of the property value–or the Vacation Home Construction programme, which includes mortgages of up to $2.5 million. Customers may pay only monthly interest payments during construction and convert to a regular residential mortgage once the dwelling has been built. In addition, Scotiabank offers many helpful services such as tips on buying and advice on getting in touch with local developers, realtors and lawyers. RBC Royal Bank offers a similar service, providing expatriate loans to foreigners living in The Bahamas, or elsewhere, who wish to build, purchase or improve property in The Bahamas. It not only covers residential buildings but also dwellings in hotel or resort rental programmes. The value of these loans is dependent on a number of factors including the property’s location and its original value. If the dwelling has a purchase price of under $2 million, the bank will provide loans of up to 70 per cent. Properties worth more than $2 million are subject to a caseby-case review to determine the amount of the loan. All RBC loans have a maximum limit of 15 years and include an administration charge of 1 per cent per year. Potential customers must present supporting documents, including a personal statement of affairs, references from at least two financial institutions approved by RBC, documents concerning the opening and maintenance of bank accounts at RBC, approval from government if required, proof of income and a satisfactory credit report. The bank may also ask for a spouse to co-sign the loan, and will insist on property insurance coverage, life insurance and a title search conducted by a bank-approved lawyer. RBC mortgage specialists help customers collect the necessary documentation and provide advice and assistance throughout the process. Interest rates and other particulars of these mortgages may change. Readers are advised to check with the bank of their choice for up-to-date, accurate information. To find out more, contact: RBC Royal Bank, tel 356-8656 or 356-8604, e-mail [email protected], or visit www.rbcroyalbank.com/caribbean/ bahamas/mortgages. FirstCaribbean, tel 302 6000/302 6020, e-mail [email protected] or [email protected], or visit www.firstcaribbeanbank.com. Scotiabank, tel 356-1623, e-mail [email protected], or visit www.scotiabank.com/homeinparadise. Island Living S11 Your own RETREAT IN PARADISE Overlooking the ocean on a seven-acre elevated plateau, Caves Heights combines the feel of a magnificent island setting with contemporary mainland comforts. This private, ocean-view community of elegant condominium residences, provides a luxurious lifestyle for its international clientele. Each spacious apartment offers dramatic views from panoramic terraces. Amenities include two swimming pools, tennis court, fitness centre, and outdoor barbecue and entertaining facilities. The grounds are enhanced by lush, tropical landscaping and lighted pathways. Additional features include a large elevator in each building, optional covered parking, condominium management and 24-hr security with a manned gatehouse. Situated in western New Providence, Caves Heights is near world-famous Cable Beach and is just minutes away from the international airport. This ultra-secure, gated community offers the ultimate in island lifestyle. CAVES HEIGHTS DEVELOPMENT LTD WEST BAY STREET, PO BOX CB 13647, NASSAU NP BAHAMAS +1 242 327 9967 www.cavesheight.com island living S14 Island Living island living Pricing paradise The art and business of property appraisal A COURTESY KERZNER INTERNATIONAL t the heart of every real estate deal is an appraisal–whether it’s a mansion, a condo, a commercial warehouse or an undeveloped piece of land. In negotiating a deal that’s fair to both the buyer and seller, much depends on the experience and professionalism of the appraiser. His assessment affects not only the final settlement but the terms of the insurance policy and the mortgage. Robin Brownrigg, President of Bahamas Realty, urges prospective buyers to be fussy about choosing a certified appraiser. “Look at their qualifications,” he advises. “Where they went to school and the depth of that schooling. Also look at their experience–experience is what makes the banks trust you.” Assessing value In determining the value of a property, an appraiser approaches the task in two basic ways: a sales comparison and a cost analysis. In the former, he or she reviews the selling price of similar properties in that neighbourhood in the recent past. The cost-based analysis Island Living S15 evaluates the condition of various features, such as driveways, landscaping and patios–along with the general condition of the surrounding neighbourhood. It’s important to take depreciation factors into account in a cost analysis, say appraisers. These can include such things as ongoing construction work and a candid evaluation of the neighbourhood. Undesireable elements in a location will bring down the value of a property, no matter how much has been invested in it. “People often spend more than the neighbourhood warrants,” says Brownrigg. “They can build their dream home [there], but they will never get their money out of it.” Another important factor is the “effective” age of the building: An older house can still be highly valued if it has been well maintained. Appraisers gather all the facts, combine both the cost and comparison values before making an assessment. The most valuable element, according to Brownrigg, is the sales comparison. The cost approach, he says, often contains “variables that are sometimes difficult to nail down.” Brownrigg, who has been appraising all types of properties for more than 30 years, says good appraisers “go an extra mile for their client.” They also maintain good working relationships with all the leading banks and lending institutions in The Bahamas. “I develop a relationship with bank managers and loan officers so they feel good about dealing with me,” Brownrigg says. “I put a lot of heart and a lot of pride into my profession.” For assessments that require specialized knowledge, an appraiser may call upon other professionals such as contractors and quantity surveyors. Bahamas Realty is affiliated with multinational real estate firm CB Richard Ellis and can work with them on complex assessments. “We have their huge resources at our disposal,” says Brownrigg. “If I feel I am getting out of my league, I will bring in a professional in that area and work with them.” COURTESY OLD BAHAMA BAY Positive outlook Old Bahama Bay, Freeport, Grand Bahama S16 Island Living Even the most experienced appraiser can run into unexpected trouble on the job, says Brownrigg. On one occasion he inadvertently went to the wrong property. “I was working on a foreclosure appraisal, and they had the address wrong,” he says. “I went to the property and hopped over the front wall and through the gate. All of a sudden I saw four Rottweilers COURTESY BAHAMAS REALTY LTD island living Robin Brownrigg, president, Bahamas Realty running at me… . I hurtled over the fence as these dogs went crashing into it. It was terrifying.” Brownrigg, who has done appraisals on many high-profile properties–including Lyford Cay, Albany, Baha Mar and Baker’s Bay in Abaco–loves his work. “The joy for me in doing my job is that I am on a drop-dead gorgeous beachfront property at least once a week being paid by somebody to have a blast.” And he is enthusiastic about the recovery of the real estate market, which slumped in The Bahamas in 2008. “In the last six months we have seen an improvement in sales. I think we need to wait it out one more year.” Visit us online Caves Heights Owning property in paradise What you need to know before buying in The Bahamas I f owning your own slice of paradise seems too good to be true, think again. Buying property in The Bahamas is easier than you may think. For one thing, you don’t have to be a resident of The Bahamas to purchase property here, whether it’s a home or land. The International Persons Landholding Act of 2009 makes it simple for non-Bahamians and their companies to buy real estate without risk. The property could be for your own use or an investment, and because real estate is held freehold, it grants owners permanent and absolute tenure of the property, so it may be used, sold or assigned in a will without restrictions. Before purchasing property in The Bahamas, keep in mind that it’s important to deal with a realtor accredited by the Bahamas Real Estate Association (BREA). There are several BREA-accredited agents who can help you with the steps you need to follow to purchase your property. They are particularly helpful with recommending a lawyer and a local bank, several of which offer loans to foreign nationals, whether they are a resident of The Bahamas or not. However, it is important to know that the government collects a onetime stamp duty on mortgages at a rate of one per cent of the amount borrowed. Also, real estate agents charge a 10 per cent commission on the sale of undeveloped property and six per cent on developed residential or commercial property. Agents charge 10 per cent commission for Island Living S17 COURTESY CAVES HEIGHTS island living COURTESY BAHAMAS REALTY island living Musha Cay, Exuma Family Island property, whether land, home or commercial. In addition to fees for lawyer’s and real estate agent services, permit applications are required to ensure a smooth property purchase. A non-Bahamian who buys or acquires an interest in a condominium or property to be used as an owneroccupied property must apply to the Secretary to the Investments Board to register the purchase. An application for registration (Form 1) must be filed with the Bahamas Investment Authority, Office of the Prime Minister, along with proof of ownership, payment of stamp duty and real property tax and a banker’s draft or money order for $25 made payable to the Public Treasury. Upon receipt, the acquisition is registered and a certificate of registration is issued. A permit to acquire property is needed if the property is undeveloped land and comprises two or more acres, a commercial property or if the residence is intended for rental. S20 Island Living The schedule of fees for a certificate of registration and permit are: Application for registration ......$25 Application for permit..............$25 Upon issue of certificate of registration or issue of permit where the property value is: $50,000 and under ..................$50 More than $50,000 and less than $101,000 ..........................$75 More than $101,000 ..............$100 Additional fees are charged for the purchase of property in The Bahamas. A government stamp tax, a one-time payment due at closing, is usually split 50/50 by buyer and seller, unless otherwise agreed. Government stamp duty on property conveyances or realty transfers is as follows: $0-$20,000 ................................4% $20,000.01-$50,000 ..................6% $50,000.01-$100,000 ................8% $100,000.01-$250,000 ............10% Over $250,000 ........................12% In property sales, the lawyer who prepares the conveyance typically charges a fee of 2.5% of the sale price or a minimum fee, whichever is greater. Effective until July 2013, first-time homeowners may apply for an exemption to the Government Stamp Tax. Homeowners wishing to purchase energy-saving appliances and fixtures will be entitled to reduction or elimination of duty on those items. Duty-free exemption is also granted on solar equipment. Residency permits Non-Bahamians who wish to reside in The Bahamas on an annual basis may qualify under one of four categories, subject to formal application and approval process. These include an independent economic resident, a resident homeowner or a seasonal resident homeowner. In the case of an independent economic resident, the applicant must provide a financial reference island living from a reputable bank verifying economic worth and two written character references. For an annual residence permit, a head-ofhousehold pays $1,000 and each dependent, $25. A resident homeowner or seasonal resident homeowner who owns a second home in The Bahamas may apply to the director of immigration for an annual homeowner’s residence card. The card is renewable annually and entitles the owner, spouse and minor children to enter and remain in The Bahamas for the period specified on the card. The fee is $500 per year and is intended to facilitate entry in The Bahamas for a stay of up to one year. These permits and cards do not allow the owner, spouse or dependents to be employed in The Bahamas. Accelerated consideration of applications for annual or permanent residence is given to major international investors and owners of residences valued at $500,000 or more. Helpful contacts Bahamas Chamber of Commerce: Bahamas Investment Authority (BIA): Shirley St and Collins Ave, PO Box N-665, tel (242) 322-2145, e-mail [email protected], www.thebahamaschamber.com Office of the Prime Minister, Sir Cecil Wallace-Whitfield Centre, West Bay St, Cable Beach, PO Box CB-10980, tel (242) 327-5826/8 or (242) 327-5940/44, www.bahamas.gov.bs Bahamas Real Estate Association (BREA): 10 Dowdeswell St, PO Box N-8860, tel (242) 356-4578 or (242) 325-4942, e-mail [email protected], www.bahamasrealestateassociation.com Bahamas Bar Association: Elizabeth Ave, PO Box N-4632 tel (242) 326-3276, www.bahamasbarassociation.com Main office: Hawkins Hill, PO Box N-831, tel (242) 322-7530/32 or (242) 322-8504, www.bahamas.gov.bs Registrar General’s Dept (Civil Registry): 50 Shirley St, PO Box N-532, Nassau, tel (242) 323-0596, www.bahamas.gov.bs Treasury Dept: Association of International Banks & Trust Companies (AIBT): Goodman's Bay Corporate Centre, West Bay St, PO Box N-7880, (242) 356-3898, e-mail [email protected], www.aibt-bahamas.com British American House, George St, PO Box N-7524, tel (242) 322-4561/5, www.bahamas.gov.bs Lands & Surveys Dept: Bay and Armstrong Sts, PO Box N-592, (242) 502-1200, www.bahamas.gov.bs Central Bank of The Bahamas: Frederick St, PO Box N-4868, tel (242) 302-2600, e-mail [email protected], www.centralbankbahamas.com Property tax Property tax must be paid by Bahamians and non-Bahamians owning real property and is due on or before Dec 31 each year. Returns are filed with the Chief Valuation Officer and paid to the Public Treasury. Tax rates are based on “market value” (the amount the property would realize if sold in the open market without encumbrances or restrictions) and are as follows: Owner-occupied property (residential and licensed rental homes) • The first $250,000 of market value ................................Exempt • Between $250,000 and $500,000 ................................3⁄4% Immigration Dept: Professional Architects Board: 143 Nassau St, PO Box CB-13040, tel (242) 326-3114, e-mail [email protected], www.bahamasarchitects.com • Between $500,000 and $5 million ................................1% • Over $5 million ......................3⁄4% All other properties/commercial: • First $500,000 ........................1% • Over $500,000 ........................2% Vacant land owned by non-Bahamians: • First $7,000 ........................$100 • Over $7,000..........................11⁄2% In Grand Bahama, no property taxes are collected from owners of properties located within the Grand Bahama Port Authority area of Freeport/Lucaya, but an annual fee is levied for trash removal, street maintenance and landscaping services. Visit us online Island Living S21 OCEAN CLUB ESTATES - $7,195,000 This luxurious 10,000 sq ft family home awaits an owner who desires beautiful views, security and countless amenities with an additional 4,000 sq ft of verandahs for relaxation. Features include a 40’ pool with coral stone decking, lush tropical landscaping, an optional media room, wine cellar or gym, 24-hr security and private beach club. Web Ref: 563548 | Andrea Brownrigg [email protected] OCEAN CLUB RESIDENCES & MARINA - $2,300,000 Luxury living in Paradise can be yours in this beautifully furnished, 3-bdrm 3.5-bth, 3,000 sq ft condo with top of the line fixtures and fittings. Owners can enjoy the beautiful private garden, pool, gym facilities, private on site marina and fabulous views. Amenities include private beach club, 24-hr security, underground parking, access to fine dining, spa and Atlantis resort amenities. Web Ref: 564760 | Carlyle Campbell | [email protected] OCEAN PLACE - $1,569,000 New high rise condo on Paradise Island offers unparalleled luxury and convenience. This 4th floor unit has large balconies to enjoy views of Nassau Harbour and deluxe appointments like tiled Travertine marble floors, recessed lighting, central a/c with programmable thermostat, 24-hour valet service, concierge, fitness facility, swimming pool and tennis facility. Dock slips available. Web Ref: 564810 | Chris Lowe [email protected] OAK HILL ROAD - $1,499,000 Set on just under two acres, this luxury home is located in a prestigious neighbourhood just off Skyline Dr and enjoys ample room for family and friends. Features include Bahama room, home gym, home office, guest apartment, Sub-Zero appliances, impact resistant windows, standby generator, electric gate, alarm system, double garage and beautifully landscaped grounds with sprinkler system. Web Ref: 564692 | P. Jason Wong | [email protected] GOAT CAY - $1,200,000 Found in the Berry Islands, this 21.96-acre island is in a protected bay sheltered from direct exposure to the Atlantic Ocean. The centre of this heavily wooded island is elevated to just shy of 50ft and has numerous building sites. A sandy area in the northwest can be enhanced to create a beach and there are good sites for docking facilities. Great Harbour Cay, with an international airport is just 4.6 miles away. Web Ref: 564086 | W. Larry Roberts [email protected] CAVES HEIGHTS - $1,200,000 Gorgeous 5th floor, penthouse with private balcony and expansive ocean views, gourmet kitchen, granite countertops, stainless steel appliances, wet bar, 3 bdrms with ensuite baths, sliding glass balcony doors, crown moldings, central a/c, washer & dryer, impact resistant windows, elevator access, swimming pools, gazebo, tennis courts, fitness center & secure entrance. Web Ref: 564756 | Taryn Hinsey | [email protected] ROSE ISLAND - $999,000 Four lots available on beautiful Rose Island with a total acreage of 3.414 acres with 500 feet of beautiful sandy beach and rocky frontage, great elevations and good water depths. A quick boat ride from downtown Nassau but with the privacy and intimacy of an Out Island setting – perfect for a weekend getaway. Spectacular beach frontage and ocean views make this property ideal. Web Ref: 564859 | Kevin Cross | [email protected] BAYROC - US $850,000 Best price at Bayroc! Set like a gem along the Caribbean Sea, this 7-acre development is near to fine shopping, dining, nightlife and golf. Mahogany double doors lead to this luxurious home boasting 9’ ceilings, French doors, modern kitchen with granite countertops and high quality appliances, dining area with wet bar and 3 spacious bedrooms with ensuite baths. Maintenance and management services on-site. Web Ref: 563472 | P. Jason Wong | [email protected] PARADISE ISLAND - US $595,000 Bright and sunny, well maintained end unit with delightful harbour views. Professionally decorated 2-bdrm, 2.5-bth townhouse with spacious master suite with direct access to the swimming pool, central a/c, washer/dryer, balcony and patio for outdoor enjoyment. Community features lush native landscaping, a swimming pool and assigned parking. Moments away from Atlantis Resort & Casino. Web Ref: 564867 | Andrea Brownrigg [email protected] THE REEF ATLANTIS - $595,000 Created by world renowned developers, this luxurious hi-rise condominium and hotel offers spectacular living accommodations. This 5th floor executive condo has upgraded features - marble flooring, Italian cabinetry, comfortable furnishings, plasma screen TV, built-in sound system, ceiling fans, central a/c, daily maid service and access to all Atlantis amenities. Web Ref: 564750 | Carlyle Campbell | [email protected] PARADISE ISLAND - US $569,000 Adjacent to the legendary Cloisters and Ocean Club, this bright and cheerful ground floor unit is within easy walking distance to the beach on beautiful Paradise Island. Well maintained and stylishly furnished, this 2bdrm, 2.5-bth condo has expansive views overlooking the pool and harbour beyond, tiled floors, central a/c, private laundry area, gated access, ample parking and beach access. Web Ref: 564515 | Diane Sturm | [email protected] SANDYPORT - $420,000 This waterfront residential community is the location of choice for fine living. This 3-bdrm, 3-bth “Fort Nassau Model” unit features ocean views, large rooms, top of the line appliances and plumbing fixtures, ceramic tiled floors, verandah, and much more. Home owners enjoy secure parking, boat dockage, access to beaches, swimming pools and tennis courts, shopping and fine dining. Web Ref: 8509 | W. Larry Roberts | [email protected] AWARD WINNERS 50 YEARS OF QUALITY PUBLICATIONS Established reputation Proven producer Continuous record of reliable service Winners of • Cacique Lifetime Achievement Award • Cacique Award for Best Photography ETIENNE DUPUCH JR PUBLICATIONS LTD A BAHAMIAN COMPANY 51 Hawthorne Rd, PO Box N-7513, Nassau, The Bahamas Tel (242) 323-5665 • Fax (242) 323-5728 DUPUCH PUBLICATIONS, BAHAMAS HANDBOOK, THE BAHAMAS INVESTOR, BAHAMAS TRAILBLAZER MAPS, DINING & ENTERTAINMENT GUIDE, WHAT-TO-DO, WELCOME BAHAMAS and the “D” Device are registered trademarks of Etienne Dupuch Jr Publications Limited. BAHAMASNET is a registered trademark of Bahamas Multi-Media Limited.