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Bahamian House to Buy in New Providence - Bahamas - Ref 503535

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House/Villa Description

Caribbean Beach Front Apartments

Grand Penthouse in Bahamas

Situated on the north coast of Nassau, this executive development  fronts onto a lovely beach and offers an infinity pool, spa, fitness centre, tennis court, sun & BBQ lounge, a concierge service and lavish tropical and water gardens.

Apartments are pre-wired for high speed internet & cable TV; the development also includes private garage & 24 hour security.

This project consists of luxury 1 to 3 bedroom apartments, which are ideal for the local rental market, with executives from the banking and insurance industries seeking 12 to 24 month rental agreements.  Prices are approximately 15% below prices for comparable new build developments in this part of Nassau.

Phase 1 completion is scheduled for September 2008; phase 2 is due to break ground in July 2008 for Autumn 2009 completion, the larger phase 3 is to follow.

Local mortgages are available for up to 80% of purchase price, possibly 85%, at interest rates of between 5.25% and 6.5%, dependent on loan to value % and term of loan.  Certain mortgage products will provide residency and make income potentially non taxable.  Closing costs for purchase will be approx. 1% of purchase price.

Expected rental income will range from $5,000 USD per month for 1 bedroom with den, up to $9,500 USD per month for a penthouse, providing a gross rental yield of between 8% and 11.4%.

The monthly management costs will include buildings insurance costs, and will be charged at $530 USD for a 1 bedroom, $665 USD for a 2 bedroom and $875 USD for a penthouse.  Rental management costs for local a letting company is estimated to be about 2% of the annual rent, dependent on duration of the tenancy agreement.  Full luxury furniture packs can be arranged if required.

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€1,091,210  |  £912,961  |  US$1,450,000
(Currency and Foreign Exchange services supplied by Excel Currencies)
Ref 503535 
Town Cable Beach 
Province New Providence 
Country Bahamas  
Type House
Bathrooms
Build Size 364 
Category New Build 
Listed over 1 year ago
Looking at property as an investment? ...   Find out more >>

Property Characteristics

  • Pool:  Yes

Map of Cable Beach, New Providence, Bahamas



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Price: US$1,450,000

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Purchase this House/Villa in Cable Beach for

€3,199p/m

(70% LTV, 5% Interest Rate, 20 years)

(Subject to status. Information given for guidance purposes only.)

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