Tuesday, May 26, 2020
A New Providence real estate development is aiming to sell off its remaining home site inventory now that the government has lifted the COVID-19 restrictions on property showings.
Palm Cay, the mixed-used real estate and marina development on New Providence's south-eastern shore, said the move is a natural progression to complete its build-out. It has completed the construction and sell-out of its Starfish Isle beachfront townhomes, while just two units remain in the phase five Anchorage apartments.
Rob Bachelor, Palm Cay's general manager, says of the latest campaign launch: "The timing in our eyes is great. We're trying to get ahead of the market. We feel we have the best residential amenities at this price point anywhere on New Providence, and want to make sure we are considered first when buyers are making a decision over the next few months."
The homesites, which range in size from a little over 8,000 square feet to 16,500 square feet, will be sold with two years of homeowner association fees and two years of membership. Palm Cay's amenities include a marina, beach and beach club, restaurant, cafeĢ, tennis courts, gym, spa and 24-hour security.
Colin Lightbourn, managing broker for Engel & Volkers, the broker managing the sales campaign, said: "Palm Cay recognises that people are in the market locally who have been waiting for an opportunity like this. We've had an unprecedented situation over the past two months, and we have decided to drive this campaign towards people here now who want to be in a community that will hold its value and offer a quality lifestyle.
"This is a tremendous opportunity to have no costs attached to the property for two years, and to experience and enjoy all the benefits of the community. It gives an owner time to plan, build and invest in a home. Also, for Bahamians there are no property taxes on vacant land, so there are literally no carrying costs."
The sales campaign launches immediately and will run through the early part of summer, remaining sensitive to any COVID-19 restrictions as The Bahamas and the world return to normal business.