ISLAND LIVING
‘A Realtor’s Perspective’ with Nick Damianos
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Interviewed By L. Roscoe Dames II and Keesha Claudia Bethell Photographs courtesy of Damianos Sotheby’s International Realty
pread across 700 islands and 2,400 cays in waters so supernaturally crystal blue that you’ll feel surrounded by an infinity pool oasis, The Bahamas is one of the sweetest pieces of paradise in the world. Combine the country’s natural beauty with its idyllic year-round warm climate and you’ll get the most exquisite island living experience. But what if you choose to make your experience into a permanent stay by becoming a second homeowner and what do you need to know before making your final decision? For Bahamians exploring the real estate market, what should you consider and what are the current trends? Up and Away magazine sat down with Nick Damianos - a Bahamian realtor, whose extensive portfolio made him the perfect person from which to get the scoop. What’s a major benefit of island living in The Bahamas?
The beauty of “island living” is that each island has a distinct personality—and The Bahamas has so many to choose from. Even though the Bahamian archipelago is one country, each inhabited island has a unique spirit. However, the common thread is a sense of community and togetherness that can only come from living on an island. From a realtor’s perspective, how is island living perceived compared to how it actually is? I think island living is perceived as a perpetual vacation, whereas, in reality, it entails some of the same mundane elements of city life—working, running errands, etc. The difference is, on an island, you can always escape to the beach. What is it like to live on a Family Island?
3 Harbour Mews need. The upside is you get to create your own paradise made to your personal preferences. You become Master of your own World! What are the current trends for local homeowners? With the advent of Airbnb, it opened up the market to more Nassauvians, so having the ability to rent that property out makes it a lot more attractive because Bahamians don’t all have property in the Family Islands. What are current challenges for local homeowners?
more than makes up for it!
The biggest challenge of being such an attractive destination for foreigners is it drives up the cost of homes everywhere. There is a high demand for properties, generally. There are high costs to building, based on customs and import duties. For college graduates, it can be quite expensive to purchase coming out of college and moving back home. As a result, a number of Bahamian college graduates choose to stay overseas where the options are more diverse and, in most cases, more affordable.
What is it like living on a private island?
What are the current trends for second homeowners?
Living on a private island offers the ultimate level of seclusion and privacy. However, it requires more forethought and planning to ensure you have all you
The current buyers are buying for the lifestyle and not so much the tax benefits. The Bahamas has excellent weather year-round making it an attractive location.
The family islands are the islands outside the island of New Providence. They offer an idyllic, relaxed lifestyle. One can leave the doors unlocked, and children can ride their bikes safely in the streets. The family islands allow for more quality family time. For those seeking the ‘get back to basics’ lifestyle find that the laid-back vibe
july 2022
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