CARIBBEAN COOL

By Roger Grody

Unique natural environments, diversity of lifestyles, and proximity to large American markets contribute to an unrivaled luxury real estate market.

Sugar-white beaches, waters glistening in otherworldly aqua iridescence and hundreds of islands—each with their own culture and vibe—make the Caribbean a truly unique destination. Furthermore, easy access from North American cities makes it far more practical for vacation homebuyers than the Côte d’Azur, Maldives or Bora Bora, and there is no shortage of extraordinary amenities.

The Bahamas, Cayman Islands, and Aruba represent three alluring opportunities for luxury real estate investors, all offering the advantages of easy access from major markets, safety and security, and a variety of upmarket indulgences. For buyers seeking to incorporate a Caribbean lifestyle into their regular routine, these destinations are among the most coveted in the region and each one benefits from the assistance of local Berkshire Hathaway HomeServices network professionals. Just 100 miles from the American mainland, the Bahamas represent the closest slice of paradise to the U.S., allowing affluent East Coast residents an opportunity to spend weekends at their luxury vacation homes on one of the Bahamas’ 700 islands. In addition to stunning beaches, the country’s sophisticated hospitality infrastructure includes sailing, golf, shopping, and dining—even a robust arts scene. Jim Bernard, a Bahamas native and owner/broker of Berkshire Hathaway HomeServices Bahamas Real Estate, reiterates the draw: “We average

340 sunny days a year, have some of the best beaches in the world and are conveniently located to North America.”

Reporting there are direct flights to Nassau from up and down the East Coast, Bernard adds, “You’ll use your second home more if it’s easy to get to.” At least 75 percent of buyers are from the U.S. and Canada, but Bernard also reports strong interest from Europe. He cites the stable government, safety, and tax-friendly environment as major advantages, as well as an opportunity to buy and sell properties in U.S. dollars. The Bahamas also offers an attractive permanent residency program, requiring an investment of just US$750,000.

Bernard says luxury ocean-view condominiums are available for approximately US$750,000, or US$1 million if directly on the beach. Prices for single-family residences start at about US$3 million, but homes with bona fide beachfront begin at US$10 million. According to the veteran broker, the pandemic triggered a market for primary residences, and now many of those transplants are trading up. Among the many homes currently offered by Berkshire Hathaway HomeServices Bahamas Real Estate is a 7,000-square-foot estate on Paradise Island for US$8.495 million, and a penthouse with marina and ocean views for US$6.6 million, both showcasing an extravagant Bahamian lifestyle.

Despite global economic headwinds, owner/broker Paula McCartney of recently opened Berkshire Hathaway HomeServices

Cayman Islands sees no indications of the local luxury market softening, with high-net-worth individuals paying cash for multimillion-dollar properties. Her partner, owner/broker Anthony Lawson, adds, “Our market is very resilient and in past recessions, it has flattened, but never really dipped.” In addition to enjoying some of the world’s most pristine beaches, homeowners in the Caymans appreciate the renowned sailing, diving, world-class cuisine, and nightlife.

Dismissing the concept of competing with other Caribbean destinations, McCartney says, “There’s something unique and different about all of our islands.” She notes, however, that the exceptionally tax-friendly environment of the Cayman Islands, its security, and presence of sophisticated financial services make it particularly inviting to affluent buyers. Emphasizing the destination’s convenience, McCartney quips, “I can fly to Miami in less time than it takes someone to drive from Fort Lauderdale to Miami in rush hour.”

“The capital appreciation here is phenomenal, averaging 10 percent per annum over the last 40 years,” says McCartney, noting that investors can own up to three income properties without obtaining a business license. “Luxury doesn’t mean the same thing to everybody,” she says, noting that some buyers appreciate the amenities of a Ritz-Carlton-branded condominium while others prefer a stand-alone residence. Lawson shares that while most available real estate is on Grand Cayman, some buyers crave the even more laid-back islands of Little Cayman and Cayman Brac, which offer some of the best diving experiences in the world.

McCartney, a longtime resident, identifies 17,000-square-foot estate Casa Mare as a genuinely exceptional current listing. “It’s very difficult to find a property with 200 feet of water frontage, incredible craftsmanship, and a design that represents the ultimate Cayman lifestyle,” she says of the home. Offered at US$15.95 million, the compound would be ideal for a family with live-in staff or a celebrity seeking absolute privacy. Speaking to the overall Cayman lifestyle, Lawson shares, “We offer a fantastic product, and now, with Berkshire Hathaway HomeServices, we have a fantastic brand to showcase it.”

In Aruba, an idyllic Caribbean destination just off the coast of Venezuela, sunworshipers share the strand with exotic birds at Flamingo Beach and enjoy some of the best diving, shopping, and nightlife in the Caribbean. Rudolph Kok, owner/broker of Berkshire Hathaway HomeServices

Aruba Realty, reports that because the island remains part of the Kingdom of the Netherlands, foreign buyers enjoy an assurance of safety and stability. Additionally, in an era of increasingly devastating storms, prospective buyers are pleased to learn that Aruba lies outside the path of most hurricanes.

“Here you have a piece of the world where all nationalities feel at home and are happy together,” says Kok, an Aruba native of Dutch descent. “Because we all have some international background, this is a small island, but feels more cosmopolitan,” adds the 20-year real estate veteran whose office joined the Berkshire Hathaway HomeServices network in late 2022. “There’s no limitation to investment by foreigners in Aruba, and everyone’s welcome,” notes Kok, who advises that most buyers are from the U.S. and Canada, followed by the Netherlands and other European countries. The market also generates interest from South American buyers, indicates the Luxury Collection Specialist.

Kok explains that some buyers are people who have been visiting Aruba for many years, staying at hotels or timeshares, and have finally decided to purchase properties for future vacations or retirement. Noting that some buyers discovered Aruba when seeking a safe refuge from COVID-19, Kok says, “During the pandemic, there was an explosion in demand for residential properties.” He adds, “Now we’re seeing a more stable market, but still very high demand.” Kok reports Aruba has never experienced a recession and that current fears of slowing global growth are not affecting local demand.

In Aruba, a luxury ocean-view condominium or a single-family villa in a gated community with golf course can be purchased for as little as US$1 million. Berkshire Hathaway HomeServices Aruba Realty is currently offering a stunning 10,900-square-foot oceanfront estate, a property that reflects the ultimate in Caribbean luxury, for US$5.6 million.

1229 Coral Way Coral Gables, FL

Palm Beach elegance meets historic Coral Way. With impressive architecture, this walled and gated 5-bedroom, 5.5-bath home sits on a 18,020-square-foot lot surrounded by a 30-foot privacy hedge. This residence was effectively rebuilt in 2000, transforming it into nearly 6,690 square feet designed for entertaining. Enter via a foyer overlooking a courtyard and water fountain. A formal living room with impressive fireplace and wood-beamed ceilings sits adjacent to a piano room. A large dining room leads to the bespoke Clive Christian kitchen with marble and butcher block island, marble countertops, and top-of-the-line appliances. A family room and 2 bedrooms remain on the 1st floor, as well as a large covered outdoor living area, summer kitchen, and a showstopping mosaic tile pool surrounded by Saturnia marble tile, a custom turf system, royal palm trees, and a checkerboard turf and tile patio area. $6,995,000

Senior Vice President

C: 305 798 8685 ashley@ashleycusack.com ashleycusack.com

Berkshire Hathaway HomeServices

EWM Realty

37 Keel Way, Mashpee, MA

19 Mill Road, Harwich, MA

352 Beacon Street, #4, Back Bay, MA

In the heart of Back Bay with breathtaking views of the Charles River, this stunning 2-bedroom residence boasts exceptional craftsmanship, private outdoor space, and 1 garage space. $2,995,000

28 Tichnor Court, Scituate, MA

Stunningly beautiful 5,800-square-foot, 4-bedroom designer home on private lot just a few blocks from desirable Scituate Harbor. This perfectly private lot is surrounded by lush grounds with plenty of balconies. $2,495,000

449 Elm Street, Dartmouth, MA

135 Old Truro Road, Wellfleet, MA

Recently built 2-bedroom contemporary home with open-concept living. Enjoy woodland views of adjacent freshwater marsh. Short drive to beautiful sandy beaches, marina, and charming main street of Wellfleet. $850,000

Berkshire Hathaway HomeServices

Robert Paul Properties

O: 508 648 6861 robertpaul.com

Catherine Baran

C: 781 264 0269 cbaran@robertpaul.com

Berkshire Hathaway HomeServices

Robert Paul Properties

102 Highwood Lane

Falmouth, MA

820 Main Street Cotuit, MA

O’Neill Group

C: 508 524 7325 oneillgroup@robertpaul.com oneillrealestate.com

Berkshire Hathaway HomeServices

Robert Paul Properties

101 Associates Road

West Falmouth, MA

Charming retreat on Chapoquoit Island in West Falmouth with a modern, spacious floor plan. The sizable site boasts water views of the harbor and mature landscaping. Enjoy life on this private island with summer activities that include 2 beaches, tennis, pickleball, and common areas on the waterfront, including a dingy dock and a fishing pier. $3,495,000

88 Eel River Road

East Falmouth, MA

Custom, spacious home set on the shores of Eel River with access out to Vineyard Sound. Delight in the stunning water views from each room in the house. Features include a stone, wood-burning fireplace in the living room, a sprawling kitchen with large center island, luxurious primary suite on the main level, a spacious deck, heated garage, and basement. $2,849,000

Paul Grover

Co-founder

C: 508 364 3500 pgrover@robertpaul.com paulgrover.com

Berkshire Hathaway HomeServices

Robert Paul Properties

Robert B. Kinlin

Co-founder

C: 508 648 2739 rkinlin@robertpaul.com robertkinlin.com

Berkshire Hathaway HomeServices

Robert Paul Properties

255 Bayberry Way

Osterville, MA

‘Point House’ is an exceptional 5.98-acre waterfront estate overlooking glistening West Bay. The 4,896-square-foot residence offers truly exceptional water vistas, a separate guesthouse, private sandy beach, and a substantial deep-water dock from which you can sail into the waters of Nantucket Sound. $13,000,000

227 Bridge Street

Osterville, MA

Unparalleled location on Little Island. This unique waterfront estate with southwestern exposure offers breathtaking water views, a 2-bedroom guesthouse, substantial deep-water dock, private sandy beach, and an expansive yard perfect for entertaining. Osterville’s peninsular location and ample waterways make it a boater’s dream. $12,500,000

Robert B. Kinlin

Co-founder

C: 508 648 2739 rkinlin@robertpaul.com robertkinlin.com

Berkshire Hathaway HomeServices

Robert Paul Properties

27 Saquatucket Bluffs, Harwich

Port, MA

This outstanding waterfront property, overlooking beautiful Saquatucket Harbor, features one of the most impressive and private deep-water docks available throughout Cape Cod. The western facing 5-bedroom home is ideal for entertaining with a spacious backyard, in-ground pool, and multiple seating areas. $9,750,000

160

Experience the ultimate lifestyle in this newly built, custom-designed 7,500-square-foot, 5-bedroom waterfront residence on 3.79 acres. Enjoy a stunning chef’s kitchen, handsome home library, and fabulous entertainment/great room. Other features include outstanding water views, an in-ground pool, tennis court, and private dock. $8,900,000

Co-founder

C: 508 648 2739 rkinlin@robertpaul.com robertkinlin.com

Berkshire Hathaway HomeServices

Robert Paul Properties

789 South Main St

Centerville, MA

Extraordinary waterfront estate on an elevated location overlooking Nantucket Sound featuring 200 feet of water frontage, a 5-bedroom main house with panoramic water views, a 2-bedroom guesthouse, waterside boathouse, substantial deep-water dock, and separate parcel with a private white sand beach. $6,700,000

355 Great Island Rd

West Yarmouth, MA

Discover the true essence of Cape Cod through this magnificent waterfront property in the exclusive gated community of Great Island. This custom-built waterfront home features 4,561 square feet of living space, expansive water vistas, luxurious amenities, a substantial deep-water dock, and private association beach. $4,995,000

286 Shadyside Avenue, Concord, MA

741 Boston Post Road, Weston, MA

145 Dutton Road, Sudbury, MA

Set privately off a scenic road, this dignified property offers 4 levels of elevator-accessible living space as well as versatile areas for indoor and outdoor entertaining. $4,500,000, TEAM Metrowest, 508 223 7583

9 Wescott Drive, Hopkinton, MA

Nestled beautifully into its surroundings, this home features a double-island kitchen, a luxurious primary bedroom, and an outdoor oasis. $3,850,000, Kathleen Williamson, 508 935 5962

245 Ridge Road, Eaton, NH

165 Tremont Street, #1603, Boston, MA

Berkshire Hathaway HomeServices

Commonwealth Real Estate

O: 866 216 1730 commonmoves.com