I think it's too early to say what impact CoronaVirus will have on realty. A tax cut is premature. I would wait until December to see what type of impact the virus has had or will have

The reality is the islands are dormant, some even foundering. Save for a few bright spots like fishing lodges or familiar boutique resorts, all administrations speak in glowing terms of "potential" while campaigning, only to see those words dissipate as they wrangle with their true capacity for leadership and innovation for 5 years. Time to take the bitter pill, better someone develops than noone. I would suggest an arrangement not unlike Providenciales where a local with ties to the land is inextricably bound to the project, and the lease released after 100 years.

"*We have to change the mindset. If a Bahamian wants to sell land to a non-Bahamian he should be allowed to do it in my opinion. Now's the time to do it,*"

seems fairly shortsighted

At this rate we’ll all soon need a tax break. The longer this lockdown lasts, the harder the comeback for all non-essential businesses.

Let’s pray for a cure because this pandemic is not of God.

Sorry, I disagree. I would NEVER sell large parcels of land to foreigners, EVER..
Once that's done, a piece of very limited real estate, (on an island or cay,) is gone FOREVER.
Why not lease the property to the foreigner for (say) 10-15 years at a time at a small fee, with the provision that they MUST develope whatever they applied to use it for, and IF not done in a certain period of time, it reverts back to The Bahamas Government, or the local owner.
That way we would get the "promised jobs" and help build the economy and self reliance of that island, and IF they under (or don't) perform, the land doesn't stay in their possession..

Mexico does something similar to that: foreigners can obtain a long-term lease to oceanfront property, up to 100 years, but they cannot own it outright.

I agree, just look at Harbour Island. Offspring of natives can't afford to buy property on their own island.

Who remembers the man who use to take poor Cat Island people property for
a sack of flour??

Bahamians should save their land for their children and future generations.
they are not making any more of that stuff..He who owns the land has the wealth.

Persons who wish to buy land in Turks Island will do so and those who wish to buy in the Bahamas will do so.

What he should do is take a cut in his and share..

I have a better idea Mr. Christie. Why don't you and your fellow realtors slash the ridiculously high commission rates currently being charged on property transactions and related services? Might I suggest a reasonable maximum commssion rate of 3% on all property transactions for instance. There's only one reason realtors like you are begging the government to reduce its taxes on property transactions. And that's so that more money can be left on the table at the time of closing on property transactions to pay your ridiculously high commission rate of 6% or more. Just stop groveling for tax breaks from government knowing that doing so only raises the taxes levied on the rest of us Bahamian taxpayers. As for Sir Snake's wishes, well let's just say that it's common knowledge how greedy that 'all-for-baby' scoundrel is through his greasing of the right political party at the right time in order to facilitate his very grabbodacious political influence peddling.

Fully agree. Realtors are always begging Government to reduce the tax they take but never willing to reduce what they take. the 6 and 10% were brought in when most property sold for much less. Now People like Mr. Christie can sell a $10 million property in Lyford, or Ocean Club and pocket $600,000. And they can do this more then once a year. So please stopping playing poor and reduce your fees as thats more annoying then paying Government .

Well-said, mudda. Well-said.

Fully agree. How does slashing the tax so that Mr. Christie can make his 6% while the Bahamian purse loses tax money from rich foreigners, benefit the average Bahamian? Isn't he the realtor that brokered the lighthouse point deal in Eleuthera selling Bahamian land to another cruise ship entity? Albany already enjoys a full tax free concession and that is not benefitting Bahamians. Their members do not travel out of the gates for any products and bring everything they need in on their yachts. Ignorant and tone deaf Mr. Christie. How does lining your pockets benefit Bahamians?

Just maybe Realtors likes comrade Johnny C, will chip in by lowering their own undeserving sales commissions by Fifty percent?
Home prices dropping will open new purchase opportunities to more we own comrade Native Buyers - the likes dem golden years not witnessed since the Pindling, fast **Movin' On Up to Eastern Road's** early years. Nod once for yeah, twice for no?

Harbour Island is but one example of foreign money buying up property and relegating local people to the category of second class citizenship. Elbow Cay, Abaco, is another example but there are others, not only on Abaco but on other islands as well. The Immovable Property Act was repealed upon the accession to office of the first FNM administration in 1992. After that prices rose and locals had to compete with money flowing in from abroad.

It is time for the government to slash prices on property so that Bahamians themselves can be able to purchase land in their own country.

AA sensible suggestion for the government to consider from the head of the country's oldest real estate company. A lot of negative comments showing here probably from people who have attempted little in their lives and achieved even less. People have forgotten, or simply so not know, how the plp party brought almost all real estate sales and development to a stop in the 2980's with the badly thought out immovable Property Act. It was not until the FNM repealed this act and freed up real estate sales that the moribund Bahamian economy started to recover. Most people just do not realize how crucially important the real estate sector is to our economy.

You sound like one of those wealthier realtors with a grandiose sense of self-entitlement. LMAO

hey Mussatakesic; not me, what ever money I earned it was earned the hard way through small business ownership employing people. You only ever had a gubmint job, eh?

Wish I did have a gubmint job....they never get laid off no matter what, invisible Red China bug and all!

How very insulting. Persons who have accomplished little in their lives..
Here we go with the high and mighty. what we have accomplished is our business
Quote the wise will understand the fool has no need to know,

It is right to see that Bahamians have access to lands. Many people in Nassau

have a postage stamp piece of land. they are all on top of each other.

Bahamians have a right to be able to buy land in the Bahamas for them and
generation of Bahamians to come.

Never mind what Christie and his side kick has to say.