Caves Heights Oceanfront Condominiums launches its final phase of development completing construction by first quarter of 2013,
NASSAU, The Bahamas Dec. 27 — Having settled into a somewhat staid persona that belied its many charms—charms that attracted many a top celebrity to its powdery beaches—The Bahamas is shaking off any lingering dust and embracing a new, glittering image, much in line with its very appealing status of tax shelter for foreign investors.
With a zero rate income tax, capital gains tax, wealth tax and VAT, the wealthy elite (and those aspiring to be) are once again training their finely-honed instincts on high-end investments in the islands.
West Nassau, already home to Lyford Cay—a favourite haunt of well-known celebrities and financial powerhouses—is enjoying a renaissance with a bevy of upscale developments and infrastructure.
Among them, the $3.5 billion Chinese-backed resort and casino development, Baha Mar, a $35 million multi-purpose stadium, and a new port and bridge in the works, both Chinese funded. The already existing Albany Nassau is most recently developed ultra luxurious community on the island complete with the requisite golf course designed and endorsed by Tiger Woods and Ernie Els, a marina outfitted to host 300-foot yachts, and stellar dining coupled with a chic atmosphere that attracts a posh crowd.
Tucked in along the West Nassau coastline are the Caves Heights Oceanfront Condominiums, a private, gated community of exceptional two-, three-, four-bedroom penthouse condos ranging from 1,855 to 4,594 square feet.
Each property has been carefully planned to maximize views, along with spacious balconies and open floor plans, offering a seamless indoor-outdoor living experience—precisely what life in The Bahamas is all about. Designed by N&M Architects and built by Osprey Construction (creator of homes in Lyford Cay, Old Fort Bay and Ocean Club Estates, among others), Caves Heights represents one of the island’s best investments.
Thanks to these and other large-scale developments, West Nassau (and The Bahamas in general) is on the rise once again. The local government has also made some key strategic moves over the last few years, adding new roads and a new airport built to international standards. Together, these initiatives are driving the region into a financial renaissance keeping itself independent from world markets, a phenomenon bolstered by the fact that the area was once perhaps viewed as a Third World destination and is now quickly modernizing on every level.
With convenient direct flights from major cities in Canada, US, South America and United Kingdom among others, Nassau has become one of the most easily accessible vacation/second home destinations for North Americans in the Caribbean region.
There are no restrictions on foreigners buying freehold property in the Bahamas.