The global real estate brand Engel & Völkers announced on Tuesday the opening of its newest location on Eleuthera Island in The Bahamas. Led by license partner Colin Lightbourn, this marks the second shop for the brand in The Bahamas, following the successful launch of their first location on New Providence Island in 2017.
“I began my real estate career by flying clients around different islands in The Bahamas and had the opportunity to explore some of the more remote locations that are now seeing new developments and increased interest,” Lightbourn said.
“I founded Bahamas Waterfront Properties in 2006 and just over a decade later decided to affiliate the business with Engel & Völkers in order to better service our clients with the reach, tools, and marketing resources of a respected global brand. We’ve had great success over the past five years, and now, the time is right to expand with a new shop location on Eleuthera, which is one of the more beautiful islands in The Bahamas. Not only does this broaden where we can serve clients, but it also presents more opportunities for our advisors to foster their own niche specializations and develop successful real estate careers,” he said.
The business currently serves the markets of New Providence, Paradise Island, Eleuthera, Abaco, Exuma, and Long Island. The Engel & Völkers brokerage in Eleuthera will strengthen services in Governors Harbour, Harbour Island, Palmetto Point, Rock Sound, and Gregory Town, which are already active markets served by Engel & Völkers Bahamas.
“The Bahamas attracts global buyers largely from the United States, Canada, Europe, and South America,” Anthony Hitt, president and CEO of Engel & Völkers Americas, said. “It is an important hub from which we can now service our global clientele. Colin’s years of experience in the market have opened doors to some of the most exclusive listings and development opportunities in the region, and I look forward to his continued growth with Engel & Völkers.”
Eleuthera, Harbour Island, and Spanish Wells have a combined population of 11,515, according to the latest census. The islands offer miles of sparsely populated, secluded beaches, making them highly appealing to visitors. Their beauty, privacy, and proximity to the world’s largest economy contribute to their allure.
Located just 180 miles off the coast of Florida, The Bahamas has been a world-class tourist destination for decades, with its capital city, Nassau, conveniently situated. The area’s beachfront vacation homes are highly sought after by residential buyers, as there is a thriving holiday rental market.
The Permanent Residency program, which requires the purchase of a residence worth $1,500,000 or more, attracts buyers from Europe, Canada, and South America.
Buyers are enticed by the pink sand beaches, clear turquoise waters, and the island lifestyle, as well as amenities such as yachting and aviation. Furthermore, The Bahamas serves as a low-tax financial center and popular economic residence for buyers from Canada, Europe, and South America, all of which are areas where Engel & Völkers also operates.
The Hotels Encouragement Act provides additional incentives for resort and community developers seeking business opportunities in The Bahamas.
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