Monday, October 14, 2019

Storm-damaged Bahamas properties hot as investors chase bargains

SCOTT OLSON/GETTY IMAGES / MCT

by David Lyons,

It didn’t take long. Shortly after Hurricane Dorian damaged countless homes and businesses in the northern Bahamas, real estate investors started calling local agents in search of bargains.

“We’ve surprisingly had several calls,” said Colin Lightbourn, who manages real estate company Engel & Volkers’ Bahamas office in Nassau. “People are asking if there is anybody selling properties in any of those cays and to keep them on our list.”

“They say, ’I don’t want to sound heartless, but if any properties come up, I’m a buyer.’”

While the timing of the phone calls may appear awkward, the inquiries from would-be buyers is not new for a region whose island nations and territories are often roughed up by hurricanes.  Read more >>