Blog contributions are provided exclusively from Luxury Real Estate members throughout the world.
Courtesy of: Maxine Hussey of Damiano's Sotheby's International Realty
Damianos Sotheby’s International Realty is pleased to announce that Samira Coleby has joined its Nassau sales team.
Samira moved to the Bahamas from Paris in 1993 and began teaching French. For twelve years she ran the Alliance Française and received the prestigious Palmes Académiques from the French Government as a reward for her hard work and dedication. For a number of years Samira has been 100% immersed in a real estate career – benefiting greatly from her contacts through the Alliance Française. She is a hard working mother of two, fully committed to the wellbeing of her clients, local and foreign alike. Over the years she has acquired extensive knowledge and understanding of the real estate market in the Bahamas and has been very successful in working with buyers and sellers. Her success has resulted in establishing longstanding friendships with her clients.
Samira is bilingual and able to service her buyers and sellers fluently in French or English. As the newest member of the Nassau team, Samira looks forward to hearing from her numerous contacts regarding their real estate needs. She can be contacted at the Shirley Street office 322 2305 or by cell 376 6248 or email samira.coleby@sothebysrealty.com
Samira dispose de connaissances approfondies du marché des plus belles propriétés et des plus beaux complexes. Elle vous apportera tous les conseils nécessaires pour l’achat, la location ainsi que sur votre établissement aux Bahamas.
Courtesy of: George Damianos of Damianos Sotheby's International Realty
NASSAU, Bahamas (April 28, 2010) – Damianos Sotheby's International Realty today announced the opening of a new office to service Guana Cay and Man-o-War Cay, Abaco. George Damianos along with his sister and partner, Virginia Damianos, continue their roles as brokers and owners.
The new office will operate under Damianos Sotheby's International Realty and is a member of the Sotheby's International Realty® global luxury real estate network. Located on Front Street, just steps from the Orchid Bay development on Guana Cay, Christopher Albury will oversee the operation and will focus on one of the most beautiful and fastest growing communities in The Abaco Cays.
"The economy continues to present us with great opportunities,” said George Damianos, President, Damianos Sotheby's International Realty, whose late father founded the firm 65 years ago, “We're excited about our expansion in Abaco because it has so much to offer. With miles of powdery white beaches and stunning views, the Abaco Cays have become the islands of choice for world-class vacation properties.
“The Bakers Bay Golf and Ocean Club on Guana Cay features a Tom Fazio designed golf course directly overlooking the beach and azure blue waters of the Atlantic. A truly spectacular destination with residential properties available on the beach and along the super-luxurious mega-yacht marina. At the south end of the island, there's a feeling of tranquility and privacy offered within the exclusive Orchid Bay community. Homeowners and guests enjoy lush natural landscaping, secluded beaches, and excellent on-site resort facilities”, says Christopher Albury, a native of Man-o-War Cay.
A long-time favourite of discriminating yachtsmen, nearby Man-O-War Cay is your home away from home. For generations, Man-O-War families have made their living building and maintaining the finest craft on the water. They have taken that same quality and attention to detail, and applied it to the construction of new homes, with beautiful results. With its expansive beaches and protected harbours, it offers the buyer the ultimate in serenity and peace of mind.
With the opening of an office in Guana Cay, Damianos Sotheby's International Realty will have a total of 10 offices throughout the Bahamas with five offices in the Abaco's, including two in Hope Town, one in Marsh Harbour, and one in Treasure Cay in addition to its offices in Nassau, Old Fort Bay and Lyford Cay and Governor's Harbour and Spanish Wells, Eleuthera. “The market _ though certainly impacted, has not been as badly affected in The Bahamas as in many other places -- is coming around” Damianos said. People from all over the world are attracted to the communities of Guana Cay and Man-o-War Cay.
“There is smart money out there. People who made it will spend it when they see value and there is value in The Bahamas,” says Damianos. Realistic pricing on the part of sellers is key. “I don_t know when the economy is going to turn around. It_s not as if it is going to happen on a given day, but when it begins to gain momentum, we will to be positioned to go with it.”
The Sotheby's International Realty network currently has more than 10,700 sales associates located in approximately 500 offices in 40 countries and territories worldwide. Damianos, Lyford Cay and Old Fort Bay Sotheby's International Realty listings are marketed on the sothebysrealty.com global Website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's Auction House and worldwide Sotheby's International Realty marketing programs.
For further information please contact info.Bahamas@SothebysRealty.com or visit SIRbahamas.com for more information on Bahamas real estate. Guana Cay 242.359.688
NASSAU, Bahamas (Jan 18, 2010) – Damianos Sotheby's International Realty today announced the opening of 2 new offices one to service Old Fort Bay, Nassau and one in Treasure Cay, Abaco. George Damianos along with his sister and partner, Virginia Damianos, continue their roles as brokers and owners.
Old Fort Bay Sotheby's International Realty is a member of the Sotheby¹s International Realty® global luxury real estate network. The new office, located next to the existing Lyford Cay Sotheby's operation, will focus on the upscale community of Old Fort Bay in Western Nassau. Old Fort Bay Sotheby's International Realty has been selected exclusively by the developer – The New Providence Development Company - to help close out the sale of its limited remaining inventory. With an office fully devoted to Old Fort Bay, the new company will be handling existing home sales, lot resales, and will work closely with the developer's in-house sales staff, to sell the eleven remaining developer owned lots.
"The economy has created opportunities,” said George Damianos, President, Damianos Sotheby¹s International Realty, whose late father founded the firm 65 years ago, “We're excited about serving Old Fort Bay because it has so much to offer. It has a real family-friendly, community atmosphere, gated with excellent security, and a lot of business promise. Old Fort Bay comprises 320 acres, only 176 waterfront lots, a charming historic clubhouse and a beach that is one of the best in the Bahamas. Of the 176 lots, there are 65 homes built, and 22 under construction. To have a development with 22 homes under construction in this economy is remarkable and speaks volumes about the community which has attracted a good mix of both local residents with young families and foreigners who enjoy the lifestyle amenities and the convenience of being near the Airport and Lyford Cay. The new town centre being created a short distance away by New Providence Development is expected to be completed within two years and will another great amenity for the community.”
With the opening of an office in Treasure Cay, Damianos Sotheby¹s International Realty will have four offices in the Abacos, including two in Hope Town and one in Marsh Harbour, in addition to its offices in Governor¹s Harbour, and Spanish Wells, Eleuthera. “The market though certainly impacted, has not been as badly affected in The Bahamas as in many other places -- it is coming around” Damianos said. People from all over the world are attracted to the community of Treasure Cay, where many own beachfront and canal front homes and condominiums. The 3.5-mile long beach was voted among the 10 Best Beaches in the World.
“There is smart money out there. People who made it will spend it when they see value and there is value in The Bahamas,” says Damianos. Realistic pricing on the part of sellers is key. “I don¹t know when the economy is going to turn around. It¹s not as if it is going to happen on a given day, but when it begins to gain momentum, we will to be positioned to go with it.”
The Sotheby's International Realty network currently has more than 10,700 sales associates located in approximately 500 offices in 40 countries and territories worldwide. Damianos and Old Fort Bay Sotheby¹s International Realty listings will be marketed on the sothebysrealty.com global Web site. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby¹s International Realty marketing programs.
About Sotheby's International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
By Janine Carey of Damianos Sotheby’s International Realty
Nassau, Bahamas. (October 5th, 2009) – President of Damianos Sotheby’s International Realty, George Damianos recently attended the de Rham Sotheby’s International Realty Sailing Competition in Switzerland. The competition which was sponsored by Julius Baer presented a great opportunity for Damianos to socialize and network with the de Rham team as well as to discuss the real estate industry in their areas. Damianos commented that he had looked forward towards his trip to Switzerland as he was able to deepen his relationship with the European Sotheby’s affiliates.
The Julius Baer Challenge 2009 ended on September 20th, 2009 with the SUI 1 Alinghi and SUI 5 Foncia winning first place on the Grand Prix du Beau Rivage, which is the last step of race. The entire event was a great success and concluded with a sit down dinner for around 500 people held at the Beau RIvage Palace. The invited guest were customers and bankers and other fund managers who help finance de Rahm Sotheby’s International Realty development projects.
Damianos Sotheby’s International Realty, serves the entire Bahamas and is headquartered in downtown Nassau with offices in Lyford Cay; Governor's Harbour and Spanish Wells Eleuthera; Marsh Harbour, Hope Town and Elbow Cay, Abaco; with associates in Treasure Cay, Abaco and Exuma. Damianos Sotheby’s International Realty Bahamas offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
By Janine Carey of Damianos Sotheby's International Realty
A gala banquet was held at the Atlantis Resort on May 29th, to mark the 50th Anniversary of the Bahamas Real Estate Association and its achievements over the years. The President of the Bahamas Real Estate Association, Mr. William Wong, welcomed His Excellency Hon. Arthur D. Hanna, the Rt. Hon. Hubert Ingraham and all the members present. In his key note address, Prime Minister Ingraham spoke in detail about the recently amended Real Property Tax Act.
The Governor General Hon. Arthur D. Hanna, presented awards to the Past Presidents in attendance and gave honourable mention to all the Founding Members of the Association. There were plaques given in recognition of dedicated service to BREA.
George Damianos, President of Damianos Sotheby’s International Realty and a BREA Board Member and his sister, Virginia Damianos Premock, Vice President of Damianos Sotheby’s International Realty and Treasurer of BREA, were recognized for their long and dedicated service to the Bahamas Real Estate Association.
Damianos Sotheby’s International Realty, serves the entire Bahamas and is headquartered in downtown Nassau with offices in Lyford Cay; Governor's Harbour and Spanish Wells Eleuthera; Marsh Harbour, Hope Town and Elbow Cay, Abaco; with associates in Treasure Cay, Abaco; Exuma, and Freeport. The Bahamas, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
By Janine Carey of Damianos Sotheby's International Realty
Nassau, Bahamas. (May 12, 2009) – Sotheby’s International Realty Affiliates LLC announced it is collaborating with The Wall Street Journal to present the many values of real estate as a long-term investment and showcase unique properties from its network’s 10,700 sales associates located in more than 500 offices in 39 countries and territories worldwide.
The Sotheby’s International Realty brand and The Wall Street Journal will co-host “The Business of Extraordinary Living” on the publication’s Web site, www.wsj.com, a microsite designed to provide insights into the real estate market from the brand’s worldwide network.
“This unique microsite was designed to meet the specialized needs of our clientele and The Wall Street Journal’s readers,” said Wendy Purvey, senior vice president, marketing, Sotheby’s International Realty Affiliates LLC. “Those readers are looking to grow their portfolios in today’s ever-changing market and look to The Wall Street Journal for its insights. ‘The Business of Extraordinary Living’ will showcase our brand’s unique perspective on the world of real estate, which always will be one of the best investments to grow long-term wealth.”
In a section entitled “The Address,” “The Business of Extraordinary Living” provides information about the properties represented by the Sotheby’s International Realty network. The Web site’s “Insights” section features data, statistics and other relevant market information. The “Living” section focuses on lifestyle trends including home styles, living, architecture and art. The “Brand” section gives an overview of the Sotheby’s International Realty network, its history and relationship with the Sotheby’s Auction House.
“The Business of Extraordinary Living” site is available by clicking here.
Damianos Sotheby’s International Realty, serves the entire Bahamas and is headquartered in downtown Nassau with offices in Lyford Cay; Governor's Harbour and Spanish Wells Eleuthera; Marsh Harbour, Hope Town and Elbow Cay, Abaco; with associates in Treasure Cay, Abaco; Exuma, and Freeport. The Bahamas, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
By Janine Carey of Damiano Sotheby's International Realty.
Nassau, Bahamas (Jan. 22 2009) – Damianos Sotheby’s International Realty, a luxury real estate firm based in Nassau, Bahamas , would like to congratulate their Top Producing Agent Kerry Sullivan and their Top Listing Agent Mark Hussey for their successes in 2008.
Kerry Sullivan’s sales achievements have earned her the ranking of Company-Wide Top Producer at Damianos Sotheby’s International Realty for 2008. Kerry Sullivan, a Hope Town resident, is a full-time real estate professional with Damianos Sotheby’s International Realty, located in Hope Town, Abaco, Bahamas. With 8 years of real estate experience, she serves the real estate needs of buyers and sellers on Elbow Cay and surrounding cays specializing in the luxury, vacation home, and second home market.
Special mention to Kerry Sullivan who has also obtained her Broker License. To become eligible for the License, Kerry met strict sales and education requirements as a broker candidate. Kerry started her real estate career in 2000 and has held an active salesman license with Damianos Sotheby’s International Realty since 2001.
Kerry is an active member of The Abaco Chapter of the Bahamas Real Estate Association (BREA), Friends of Hope Town, Friends of the Environment, Friends of the Animals, Hope Town Playgroup, and The Wyannie Malone Historical Museum.
Mark Hussey, a Bahamian citizen, is a full time real estate professional with Damianos Sotheby’s International Realty, located in Nassau, Bahamas. With a strong Sales and Marketing background, Mark joined Damianos Sotheby’s International Realty in January of 2005. Mark’s positive attitude and personality, along with his effective business relationships tremendously aid in his ability to join buyers and sellers together in the luxury, vacation home, and second home market.
Damianos Sotheby’s International Realty, serves the entire Bahamas and is headquartered in downtown Nassau with offices in Lyford Cay; Governor's Harbour and Spanish Wells Eleuthera; Marsh Harbour, Hope Town and Elbow Cay, Abaco; with associates in Treasure Cay, Abaco; Exuma, and Freeport, Grand Bahama. Damianos Sotheby’s International Realty Bahamas, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.
As a Sotheby’s International Realty affiliate, the firm also has the unique ability to refer its real estate clientele to the auction house for jewelry, art, unique furniture and collectible appraisal services. Property listings from Damianos Sotheby’s International Realty also are marketed on the SothebysRealty.com global Web site, as well as on the firm’s local Web site, SIRbahamas.com.
DamianosSotheby’s International Realty’s main office is located at #75 Shirley Street, Nassau Bahamas and with Lyford Cay Sotheby’s International Realty located in the exclusive community of Lyford Cay.
By George Damianos of Damianos Sotheby's International Realty.
Just east of the Florida coastline lies the beautiful Island Nations of The Bahamas - a coral archipelago scattered over 700 miles of sparkling turquoise waters with 700 Islands and 2,000 Cays and Rocks.
With only 29 islands inhabited by a significant number of people, the Bahamas has a population of over 270,000 people, shared mostly among the major islands (New Providence, Grand Bahama, Abaco, Andros, Bimini, Cat Island, Eleuthera, Exuma, and Long Island).
New Providence - home to the 330 year-old capital city of Nassau, this busy little island (7miles wide by 21 miles long) is home to over half of the total population, and houses the majority of the countries businesses and banks. With all the conveniences of a major international city, this island is the financial and industrial hub of the Caribbean.
The Bahamas is one of the most politically stable in the region, with an uninterrupted parliamentary democracy in operation for 275 years, and its own government in place since 1973 when independence from Great Britain was granted. A member of the commonwealth, the Bahamas still recognizes the British monarch as the head of state.
In the Caribbean region, the Bahamas is one of, if not the most technologically advanced countries, offering state-of-the-art communications systems, electrical supplies, and water works. The country's main industry is tourism, with over 60% of revenues coming from tourism related activities. The second driving force behind the economy is banking and other financial services, followed by agriculture and fisheries, light manufacturing, and retail and wholesale distributives.
A direct flight from New York to Nassau is only 2 1/2 hours, and from Toronto, 3 hours. Direct flights are also available from London, Paris, Frankfurt, Newark, Atlanta, Miami, Charlotte, Fort Lauderdale, Los Angeles, Orlando, Montreal, San Juan and Kingston, Jamaica. Once in New Providence, The Nassau International Airport is just 20 minutes from downtown Nassau and Paradise Island.
The Bahamian Dollar, an independent monetary unit, controlled by the Central Bank of The Bahamas, is on par with the US Dollar, which is readily accepted throughout the country.
Americans will need a passport or birth certificate to enter the country; most other foreign nationals are required to have a passport/visa. For more information, contact the Bahamian consulate in Miami at (305) 373-6295.
There are no income, corporate, inheritance or capital gains taxes. The main form of taxation is import duties and government stamp taxes.
By John Christie of H.G. Christie Ltd.
Based on the steady sales activity we have witnessed over the course of the year, we at HGChristie are of the opinion that the real estate market in the Bahamas is remaining relatively strong, especially for sales in the luxury markets. Speculative, high risk lending practices are non-existent in our country, and additionally, the government is very selective in its approval processes for new developments. As a result of these factors we do not see the high levels of market saturation which we understand to be common in today's troubled U.S. market.
The high-end residential market in the Bahamas has continued to perform steadily and pricing in luxury developments have ranged from $2,000,000 per lot to around $16,000,000 with the sizes of the properties varying. In new developments alone this year there have been $370,000,000 dollars in sales. These include the Albany development (through a culmination of pre-sales push), Bakers Bay, the Residences at Atlantis, and The Ritz Carlton in Abaco. The success of these developments is due mainly to the fact that the developers had a high level of pre-existing funding in place and also to their ability to perform as promised. Another strength has been the rising demand for private, undeveloped islands. During this downturn in the world economy, people with means have been struggling to find safe places to secure their wealth. This has lead them to invest their money in the one commodity that will not disappear or come into dispute - real estate. In general, sales prices have remained consistent but some motivated sellers have reduced their sales prices due to being over-extended in the U.S. market. The possession of development entitlements would further enhance the value and demand for an undeveloped island. Overall, we remain optimistic as our sales continue on this current trend.
Damianos Sotheby's International Realty
Stunning Prime Beachfront Estate Lot 25 at The Abaco Club Ritz Carlton on Winding Bay, Abaco, Bahamas. Enjoy the amenities of a 5-star golf and beach resort. This 1.73 acre beachfront lot offers privacy and seclusion. Superbly located in the center of the beach with close proximity to the Club's amenities. This beautiful lot has 200 feet of pink sand beach with gorgeous views of the secluded and protected Winding Bay. Closing date for sealed bids: February 16, 2009.
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