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From:TheBahamasWeekly.com New Providence
Nassau, The Bahamas - Engel & Völkers Bahamas, recognized as one of the world’s leading service companies specializing in the brokerage of premium residential property, commercial real estate, yachts and aircraft, has researched, developed and released a new report on the new luxury real estate opportunities on New Providence and Paradise Island. The ‘New Condo & Amenity Report’ streamlines for consumers solely the leading blue chip properties; their amenities are also listed and evaluated by Engel & Völkers. License Partner Colin Lightbourn, luxury property specialist at Engel & Völkers said that the report notes that the 2019 real estate market is led by several new condominium developments affording a new level of contemporary style, luxury amenities and specialized owner services. The report specifically includes seven projects: One Marina at Palm Cay, Albany, Residences at Goldwynn, Hurricane Hole, One Particular Harbour at The Pointe and Baha Mar Residences with condominiums and villas by Rosewood and SLS Hotels. Also included in the report is an amenity rating which covers 12 criteria and grades them on a scale of zero to three with three being the best rating. Some of the criteria include: marinas, restaurants, concierge services, a theatre, beaches and exclusivity. Albany topped the list followed closely by Rosewood Residences at Baha Mar. Mr. Lightbourn said Engel & Völkers’ ‘Top Amenities’ status in Nassau/Paradise Island was awarded to Albany with Rosewood Residences at Baha Mar a close second. “Amenities are the new luxury real estate. Developers are now creating spas and restaurants, tennis courts and golf, owner services, rental programs, and bringing in name brands with their own following – so small, luxury hotels, some with residences such as Goldwynn, and obviously Rosewood for example, are adding more guest amenities. It’s really all about amenities, and developers price the amenities into their final products.” The report was released at the exclusive six-bedroom, 6,400 square feet ocean front Rosewood Beach Villa at Baha Mar with their real estate sales team and VIP guests. Colin Lightbourn, addressing the attendees said, “There are some amazing developments on the island at the present time and between them all, there are a lot of options for a buyer. We decided to prepare this initial report to bring together the details of each one and create a criterion by which each one can be evaluated. We chose the Rosewood Beach Villa to release the report, firstly because the Rosewood collection includes some of the most legendary hotels and resorts in the world, which we feel most aligns with the Engel & Völkers brand values. The six-bedroom beach villa which has rented at up to $18,000 a night is the premier unit of all the properties in our report.” Mr. Lightbourn said that the ratings do not necessarily mean that any one property is better than another; it just creates an apples to apples comparison for properties which are at different price points. Three of the projects including The Pointe, Goldwynn and Hurricane Hole are still undeveloped, explained Mr. Lightbourn. “We could not give something that has not been completed the same value as something that has. We anticipate the new projects to be every bit as luxurious as the developers are marketing them to be once they are completed.” Genevieve Conroy, VP Residential Sales & Marketing for Baha Mar Residences, added, “Baha Mar Residences is thrilled to be part of this inaugural report and spear-heading the renaissance of Nassau. The amenities on our 1,000-acre luxury resort include a world-class variety of restaurants, the Caribbean’s largest casino, Royal Blue, a Jack Nicklaus Signature Course as well as -Baha Mar’s dazzling private island, Long Cay. Our owners are seeking new experiences and to meet those desires we’ve recently made available to them a magnificent 213-foot superyacht. Together we are raising the bar for real estate in The Bahamas, and contributing to the compelling high-quality real estate options for local and international markets looking to buy in The Bahamas or the Caribbean.” In addition to the amenity ratings, the report includes average square foot prices and a modified value which factors in the amenity rating. While Albany and Rosewood at Baha Mar top the amenity list, Palm Cay on the eastern end of New Providence came in with the best value in terms of what you pay for the amenities you get. “Every property is very different at very different price points with different features and options for prospective owners. Our follow up report will dive more in to these features and the range of ownership opportunities.
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