In King Arthurs Camelot there were "legal laws" to guarantee that the climate would be "perfect all the year," with strict limits set on both the snowfall and the length of the winter season. In these tropical "isles of perpetual June," as President George Washington once described The Bahamas, snow, frost and hail are unknown, thanks to the warming effect of the ocean current known as the Gulf Stream.
Its no wonder that a growing number of the millions of visitors who come to The Bahamas each year are discovering that The Bahamas is not only an excellent spot for relaxing-but also for buying second homes and investing.
With an eye on both business and pleasure, successive Bahamian governments have courted foreign investors in a number of ways. In 1993, for example, the government enacted the International Persons Landholding Act. The Act establishes automatic approval for non-Bahamians purchasing residential property, in addition to a two-year real property tax exemption for foreigners buying land for development.
Upscale living
Almost anything built in The Bahamas today is considered upscale, with developers courting clients who have several homes around the globe. But the prices here, linked to the American dollar, look like bargains to anyone paying in pounds or euros.
Recent high-end residential projects routinely include golf courses designed by champions, equestrian centres, full-service marinas and private air strips.
H G Christie Ltd, The Bahamas largest and oldest real estate agency specializes in luxury homes and condos, vacation homes, beachfront properties, development properties and rental properties throughout the chain of islands, as well as private islands.
At press time, H G Christie listed no fewer than 25 private islands for sale, ranging from Carrington Cay in North Abaco for $455,000 to 250-acre Bird Cay in the Berry Islands, including an 8,000-square-foot, four-bedroom home plus other buildings and amenities, all for a cool $28 million.