Tommy Turnquest, the Bahamian opposition party leader, mentioned lately that first year freeing from property tax for the secondly owned property can be considered a potential change, which can increase attractiveness of the Bahamas in terms of living after retirement.
RealEstateGates.com informed before about the expansion of U. S. real estate specialists on the Bahamas. In reflection to the overwhelming troubled atmosphere in the islands, Mr. Turnquest emphasized that there is a need to clear up the fact that the Bahamas are interested in second-home owners who do not intend to be competitors to the existing Bahamian entrepreneurs in the real estate sector. Turnquest also discussed the question of employment possibilities for non-residents of the islands.
Both the party leaded by Tommy Turnquest and the governing Bahamian Labor Party believe that the Bahamian Real Estate Association is to be the key partner to the Government in promoting Bahamian Islands not only as a place to live after retirement but as a place to have a second house.
As RealEstateGates.com informed in July, the Association president, Pat Strachan pointed out that he believes itﾴs important to prevent the competition caused by the unfair competition caused by non-licensed foreign real estate agents. According to the information received from the local media, Mr. Strachan announced that the problem appeared because of agents from the USA, particularly coming from Florida, who are allowed to come to Bahamas and establish the deals with local lawyers in order to register there and sell Bahamian real estate.
Author: Cameron Lindblom, RealEstateGates
