There are a number of exclusive areas in The Bahamas. Communities like Lyford Cay have been described as one of the world's wealthiest and most exclusive residential areas.
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The archipelago that makes up the Bahamas is located broadly between Florida and Cuba, in the Atlantic Ocean. Of the 700 islands, only 30 are inhabited. Most expats moving to the Bahamas find themselves relocating to New Providence Island, where roughly two-thirds of all inhabitants live.
The Bahamas is the richest nation in the Caribbean and has a reputation for being a playground for the uber-rich. With its world-class golf courses and casinos, the islands know how to cater to wealthy retirees.
Small supply and a large demand for Nassau real estate keeps prices higher than the Family Islands. Islands like Abaco, Eleuthera, Cat Island, Exuma and Long Island offer wonderful deals that are extremely affordable.
Largely wild and undeveloped, Strangers Cay was picked up by Beyoncé and Jay-Z for $3 million. The 360-acre island is carpeted with lush greenery and has a natural harbor in crystal clear waters that are perfect for snorkeling and scuba diving.
The higher cost of living in the Bahamas are due to the fact that most goods need to be imported, and all of these items are taxed, when they arrive and clear customs. Unlike the US, there is no income tax in the Bahamas.
Famous faces are constantly on the paradise shores of The Bahamas, with the likes of Lenny Kravitz, Nick Cage and Mariah Carey all owning property there. It has also seen the likes of visitors such as Johnny Depp, Jennifer Aniston, Angela Bassett, Oprah Winfrey, Martha Stewart and Jennifer Hudson.
The Bahamas is the richest nation in the Caribbean and has a reputation for being a playground for the uber-rich. With its world-class golf courses and casinos, the islands know how to cater to wealthy retirees.
Violent crime, such as burglaries, armed robberies, and sexual assaults, occur in both tourist and non-tourist areas. Be vigilant when staying at short-term vacation rental properties where private security companies do not have a presence.
The Bahamas does have a high cost of living , which is a result of the country's imposition of high value-added taxes on groceries, furniture, appliances, and clothing. This isn't too much of an issue if you're planning to buy a vacation home but for those who want to buy a permanent home, it could be a factor.
Fifty five percent of usable Bahamas real estate is owned by the government with all other property vested in private ownership or tagged as wet' Crown land.