The allure of Exuma: why this Bahamian paradise is a real estate hotspot
The irresistible charm of Exuma
Imagine waking up every day to the sight of pristine turquoise waters, white sandy beaches, and lush tropical landscapes. That's the everyday reality in Exuma, a collection of over 365 cays and islands in the Bahamas. There's something uniquely captivating about Exuma that has attracted not just tourists, but also many who want to call this paradise home.A haven for celebrities and luxury seekers
Exuma has become a magnet for the rich and famous. Celebrities like Johnny Depp and David Copperfield have invested in private islands here. Depp’s Little Hall’s Pond Cay and Copperfield’s Musha Cay are prime examples of how high-profile individuals choose Exuma as their sanctuary. This allure is not just limited to celebrities; Grand Isle Resort attracts luxury seekers from around the globe, offering beachfront villas with jaw-dropping views. According to Forbes Magazine, private island prices in the Exuma Cays can range from $3 million to over $50 million, making it a luxurious investment spot.The heart of the Bahamas real estate market
The attractiveness of Exuma isn’t just about its beauty; it’s also a smart investment. According to a report by The Bahamas Real Estate Association, from 2019 to 2021, Exuma saw a 15% increase in property values. The demand for premium properties here has consistently grown, turning it into a hot real estate spot. This trend is fuelled by limited supply and increasing interest from international buyers looking for a tropical escape.Varied property choices for every taste
Exuma offers a variety of properties to suit different preferences and needs. Whether you’re looking for a modest beachfront villa, a sprawling estate, or even an untapped plot of land, the options are diverse. For instance, in Emerald Bay, you can find luxurious houses with multiple beds and baths, priced according to the stunning views and location. According to MLS Bahamas, properties in areas like Great Exuma or the smaller Exuma Cays are listed starting from $500,000 and can go up to multi-million dollar estates.A growing interest in sustainable living
Recently, there has been a growing trend toward eco-friendly and sustainable living in Exuma. Many new developments are focusing on solar energy, rainwater harvesting, and sustainable building materials. This push towards green living not only preserves the natural allure of Exuma but also attracts environmentally-conscious investors. The Exuma Foundation has been instrumental in promoting sustainable development on the islands.Learn more about the Exuma real estate market
For a comprehensive guide to the Bahamian property market, visit our detailed article on Eleuthera real estate. This piece provides broader insights that can help in understanding Exuma’s allure.Market trends in Exuma real estate: what you need to know
Go-to destination for prime investments
Discovering the market trends in Exuma real estate reveals why this region is a prime investment hotspot. While the Bahamas have always been attractive, the Exuma's magic is taking center stage these days.
Rising demand for luxury and lifestyle
According to a 2022 report by The Bahamas Real Estate Association (BREA), the demand for luxury properties in Exuma has surged by 40%. Buyers are drawn to the unparalleled beauty, privacy, and potential for high returns on investment. This includes both second home buyers and investors looking for rental income opportunities.
Land prices and rental yields
The property market is thriving. Land prices have seen a consistent annual growth rate of 15% over the past five years. Rental yields, especially for properties in desirable locations like Emerald Bay and Grand Isle Resort, range between 8% and 12%, making Exuma an attractive option for real estate investors.
Impact of celebrities
High-profile property owners such as Johnny Depp and David Copperfield have further boosted Exuma's reputation. Their involvement has not only increased property values but also driven interest and tourism in the area.
Sustainable development trends
There's a noticeable shift toward eco-friendly and sustainable real estate developments. Properties like the Ocean Ridge Estates in Great Exuma are being designed with a focus on environmental protection, setting a trend that is expected to grow. With the global spotlight on climate change, sustainable properties are gaining more attention from buyers.
MLS listings and availability
Currently, the MLS (Multiple Listing Service) in Exuma showcases a wide variety of options, ranging from beachfront villas to private islands. As of late 2022, there were over 150 listings with prices ranging from $500,000 to over $10 million, catering to diverse investor profiles.
Market stability and future outlook
Experts predict stable growth in the Exuma real estate market, driven by ongoing infrastructure developments and increased connectivity from major cities like Miami and Nassau. The completion of new marinas, resorts, and residential projects is set to attract even more investors and tourists alike.
Quote from an expert
Todd Vendituoli, a real estate expert in the Bahamas, states, "Exuma offers a unique blend of natural beauty and investment potential that’s hard to find anywhere else in the Caribbean. It’s no surprise that savvy investors are flocking here."
Key locations in Exuma: from Great Exuma to the Exuma Cays
Great Exuma: where lifestyle meets luxury
Located in the southern part of the Exumas, Great Exuma offers a charming blend of local culture and high-end amenities. Famous for its crystal-clear waters and pristine beaches, this part of Exuma attracts both tourists and investors. Key highlights include the Exuma real estate market, offering everything from beachfront villas to larger estates. Here, properties typically feature spacious beds and baths, open layouts with ample sqft, and generous lot sizes that ensure privacy and spectacular bay views.
The Exuma Cays: a slice of paradise in every corner
The Exuma Cays are synonymous with luxury and exclusivity. Key spots such as Staniel Cay and Jolly Hall offer unparalleled seclusion combined with high-value properties. For instance, a residential property listed in Staniel Cay might feature multiple beds and baths, extensive sqft area, and lot sizes that rival some of the grandest estates in the world.
Private islands like Leaf Cay and Mingo Rolle Cay offer limited-edition ownership experiences. These properties are often featured in exclusive MLS listings, highlighting their baths, sqft residential MLS figures, and unique views, making them highly sought after.
Emerald Bay: upscale living in the heart of Exuma
Emerald Bay is another jewel in the cays of Exuma. Extremely popular among those seeking a high-end lifestyle, this area is famous for its luxury properties. For instance, a typical listing in Emerald Bay could include expansive residential lots, multiple beds and baths, and stunning views that overlook the pristine waters of the Bahamas.
The Grand Isle Resort is particularly noteworthy, offering premium amenities such as gourmet dining, golf courses, and private beach access. Properties here are known for their sqft figure, which makes them ideal for those looking to invest in a luxurious lifestyle.
George Town: the administrative and commercial hub
Located on the eastern side of Great Exuma, George Town is considered the administrative capital of the Exumas. It is well-suited for both residential and commercial investment opportunities. Properties here include everything from classic Bahamian houses to modern apartments with baths and sqft values that cater to a range of budgets. The area is accessible via the Queens Highway, making it convenient for locals and tourists alike.
The highly coveted properties in George Town often feature views that are among the most scenic in the Exumas. Whether it’s a quaint bungalow or a sprawling estate, this locale has something for everyone.
Little Exuma: the epitome of Bahamian tranquility
Little Exuma is known for its serene environment and less crowded beaches, making it ideal for those looking for a quieter lifestyle. Properties here often come with significant lot sizes, offering multiple beds, baths, and generous sqft space, ideal for families or those seeking a holiday retreat.
Despite its tranquility, Little Exuma is just a short drive from the busier parts of Great Exuma and George Town, offering a mix of convenience and seclusion. The unique blend of properties from luxury to budget-friendly makes it a versatile choice for various investors.
For more insights on investing in other Caribbean paradises, you can view our guide on Azores real estate opportunities.
Types of properties available: from beachfront villas to private islands
The charm of beachfront villas
Beachfront villas in Exuma, Bahamas are undeniably the dream property for many. With direct access to the ocean, breathtaking views, and the ultimate privacy, it's no wonder these properties are highly sought after. From luxurious finishes to private pools and outdoor living spaces, beachfront villas offer a slice of paradise in your own backyard. The average price for these stunning homes ranges from $1.5 million to $5 million, depending on the size and specific location.
The allure of private islands
Nothing screams exclusivity like owning a private island. The Exuma Cays are known for their picturesque private islands available for purchase. These islands often come with existing infrastructure, such as airstrips, docks, and luxurious accommodations. One notable example is Leaf Cay in Exuma, once owned by Nicholas Cage, and now listed for over $7 million. Private islands offer unparalleled privacy and a unique lifestyle experience that cannot be matched.
Luxury homes in gated communities
For those who prefer the security and amenities of a gated community, Exuma has several options to explore. Emerald Bay, with its proximity to Sandals Emerald Bay Resort and an 18-hole golf course designed by Greg Norman, is a prime example. Homes in this area are priced between $750,000 and $3 million and often come with access to resort amenities, making them ideal for those seeking a blend of luxury and convenience.
Charming cottages and smaller homes
If a more modest property is what you're after, Exuma also offers charming cottages and smaller homes. These properties are ideal for those looking for a quiet retreat or a rental investment. Prices for cottages and smaller homes range from $300,000 to $800,000, offering various options for different budgets. They often feature traditional Bahamian architecture, adding to their charm and appeal.
Expansive lots and land for development
For those with a vision to build their dream home, Exuma provides expansive lots and land for development. Whether it's oceanfront or nestled inland with lush vegetation, there are a variety of parcels available. Lot sizes range from half an acre to over ten acres, with prices varying accordingly. One notable parcel is on Mingo Rolle Cay, offering a substantial tract of land for potential development, priced at approximately $1 million.
Understandably, navigating the property types in Exuma may feel overwhelming. However, with the diverse options available, from beachfront villas to private islands and gated communities, there's something for everyone. Whether you seek seclusion in a private island, the charm of a beachfront villa, or the development potential of a large land parcel, Exuma real estate holds promises of a paradise investment. Consider reviewing investment opportunities in similar Caribbean locales for a broader perspective.
Investment opportunities: why Exuma is a smart choice
Why exuma is a prime investment destination
Exuma real estate isn't just about breathtaking views and pristine beaches—it's also a prime investment opportunity. Let's break down the reasons why you should consider Exuma for your next property purchase.
High rental yields and return on investment
One of the major perks of investing in Exuma real estate is the high rental yields. According to a report from the Bahamas Real Estate Association (BREA), properties in the Bahamas, including Exuma, have shown rental yields of around 8% annually. This rate is considerably higher compared to other popular vacation destinations.
Appreciation and market growth
Property prices in Exuma have been steadily rising. Data from the Bahamas Department of Statistics reveals that between 2010 and 2020, property values in Exuma appreciated by approximately 5-7% annually. Experts like John Christie, President of HG Christie Ltd., affirm that Exuma's real estate market is robust and continues to attract investors globally.
Tax benefits
Investing in Exuma real estate offers attractive tax incentives. There's no capital gains tax, inheritance tax, or income tax in the Bahamas. This tax-friendly environment can benefit investors looking to maximize the return on their property investments.
Case study: celebrity investments
High-profile figures have taken notice of Exuma's real estate potential. For instance, actor Johnny Depp owns a private island in the Exuma Cays, and magician David Copperfield has invested in Musha Cay. Their investments highlight the appeal and potential of Exuma as a lucrative and prestigious real estate market.
Growing tourism sector
With the growing number of tourists flocking to Exuma each year, the demand for rental properties is on the rise. The Bahamas Ministry of Tourism reported a 12% increase in visitors to the Exumas in 2019. This trend boosts the prospects for short-term rental properties, making it an attractive option for investors.
With diverse property choices ranging from beachfront villas, private islands, to residential houses, Exuma offers extensive opportunities for investors. Whether looking for high rental yields, appreciation, or simply a beautiful place to call home, Exuma real estate provides a compelling case for investment.
Living in Exuma: lifestyle and amenities
Getting around Exuma
Living in Exuma means adjusting to island life, and this comes with understanding the intricacies of transportation. George Town, the largest settlement in Exuma, serves as the main hub for transportation. The Exuma International Airport (GGT) connects the island with the outside world, offering flights to the United States, Canada, and Nassau. Local transportation options include taxis, car rentals, and boats, which are essential for navigating the island's many cays.
Medical facilities and healthcare
The healthcare facilities in Exuma include the Exuma Healthcare Center located in George Town, which provides basic medical services. For more specialized medical care, residents might need to travel to the capital Nassau or even to Florida. Ensuring access to quality healthcare is an important consideration for potential residents.
Schools and education
For families moving to Exuma, education is a key concern. The island has several schools, including St. Andrew's Anglican School, which offers primary and secondary education. There are also public schools and the satellite campus of the Bahamas Technical and Vocational Institute available on the island. The small community ensures a supportive learning environment, but parents seeking more advanced educational opportunities may consider international options.
Shopping and dining experiences
Exuma offers a range of dining and shopping experiences that cater to both locals and visitors. In George Town, you will find grocery stores, local shops, and restaurants offering local and international cuisines. The Fish Fry at George Town is a must-visit for authentic Bahamian dishes. However, for more extensive shopping options, trips to Nassau or online shopping might be necessary.
Community and social life
Exuma has a close-knit community that welcomes newcomers warmly. The annual events and festivals like the Exuma Regatta are celebrated with much enthusiasm. Additionally, expatriates and locals engage in various social clubs and activities, fostering a vibrant community life. Social connections are often built through shared interests, such as boating or attending local church services.
Utilities and infrastructure
Utilities in Exuma are reliable, with electricity provided by the Bahamas Electricity Corporation. However, occasional power outages do occur. Water is sourced from the island's desalination plants. Most properties have internet access, with speeds varying depending on the location. In recent years, infrastructural development has seen significant improvements, making island living more convenient.
Enjoying the outdoors
The natural beauty of Exuma is a significant part of daily life. Residents enjoy various outdoor activities such as snorkeling, diving, fishing, and boating among the stunning cays. The pristine beaches, like those at Jolly Hall and Flamingo Bay, offer perfect spots for relaxation and recreation. The island life encourages an active, outdoor-focused lifestyle, further enhancing the allure of living in Exuma.
To explore more about the market trends and what you need to know before investing, visit investment opportunities in St. Thomas, Virgin Islands.
Success stories: notable property owners in Exuma
Icons who own a piece of Exuma
Exuma has attracted a range of high-profile property owners, each drawn by the islands' unique charm and beauty. Notably, Johnny Depp owns a 45-acre private island called Little Hall's Pond Cay, which he purchased in 2004 for around $3.6 million. Depp described the island as 'pure and beautiful,' with six beaches named after his children and close friends (Forbes).
Similarly, magician David Copperfield owns Musha Cay and the Islands of Copperfield Bay, a collective of 11 private islands. Copperfield transformed Musha Cay into an exclusive luxury resort, where one night can cost up to $57,000. He once claimed to have discovered the fountain of youth on one of these islands, adding a mystic allure to his property (The Telegraph).
Actor Nicolas Cage also has his piece of paradise in Exuma, owning Leaf Cay. The island, which Cage bought for $3 million, features pristine beaches and crystal-clear waters, characteristic of the Exumas' breathtaking natural landscape. However, many reports suggest Cage's pursuits on the island included grand plans that were never fully realized (Private Islands Online).
A haven for the elite
The quiet beauty and seclusion of the Exuma Cays have also captured the interest of other celebrities and high-net-worth individuals. For example, Tyler Perry owns White Bay Cay, a seven-acre island. Perry once mentioned fleeing the fast pace of Hollywood to the tranquil settings of Exuma as one of his favorite escapes.
Additionally, the Grand Isle Resort on Emerald Bay is renowned for hosting celebrities and public figures seeking privacy and luxury. The resort offers beachfront villas and sweeping ocean views, making it a favorite hideaway for those in the limelight.
More than just investment
While the star-studded ownership of Exuma properties adds glamour to the locale, the island also offers remarkable investment opportunities. Whether it’s a sprawling oceanfront estate or a petite, charming cottage, Exuma real estate attracts investors worldwide for both its potential return on investment and sheer enjoyment of having a slice of paradise.
Want to know more about how the Exuma real estate market is shaping up? [Check out our in-depth guide on the Exuma property market].
