NASSAU, THE BAHAMAS — Built-up demand, amplified digital marketing efforts and excellence in all aspects of customer service have added up to a record-breaking six months so far this year for Damianos Sotheby’s International Realty.
“At the beginning of 2021, we were hopeful that our market would experience signs of recovery due to the easing of local restrictions and the reopening of international travel,” said Lana Rademaker, Chief Brokerage Officer for the real estate firm. “However, the level of activity throughout The Bahamas since January has far exceeded our expectations and has broken all previous years’ sales records. Inventory is at a historical low and demand remains very strong, especially in the luxury markets.“
Rademaker added that Damianos Sotheby’s International Realty has experienced a 300% increase in sales volume YTD over 2020 and has achieved a new history-making average sales price of $2,700,000. “Properties in highest demand have been those located in top tier luxury gated communities like Lyford Cay, Old Fort Bay and Ocean Club Estates. We are also experiencing a surge in condo sales, vacation homes and vacant land investments from both local and international purchasers. While Nassau was the first market to feel the turnaround, activity in Abaco, Eleuthera and Exuma soon followed with sales activity now at unprecedented levels,” Rademaker said.
The vacation rental market has also seen accelerated growth in 2021.
“Prior to 2020, our rental business was typically seasonal, with the bulk of inquiries coming in during winter and holidays like spring break,” Rademaker said. “But we saw virtually no decline in inquiries throughout 2020, and 2021 is looking much the same. With the popularity and ease of working and attending school remotely these days, buyers are taking the option to rent for a few months to get a real feel for the communities where they’re considering purchasing.”
Another stellar boon for the company’s bottom line in 2021 has been its strategic partnership with Baha Mar to exclusively represent Baha Mar Residences, the only Caribbean residential ownership project featuring impeccable turnkey residences by two acclaimed hotel brands: Rosewood Hotels & Resorts and SLS Baha Mar. This alliance has catapulted Damianos Sotheby’s International Realty listings volume to $925 million YTD.
“Working with Baha Mar has been the most impactful strategic move we’ve made in the 76-year history of our company, with the exception of becoming a Sotheby’s International Realty franchise in 2005,” Rademaker said. “We cannot be more pleased to have been awarded the honor of exclusively representing these extraordinary residences.”
Rademaker also attributes this year’s phenomenal sales numbers to the company’s culture which emphasizes innovation, professionalism and market expertise, attracting the most elite real estate professionals in The Bahamas and resulting in the highest caliber of service for clients.
“Despite the challenges and obstacles faced in 2020, our team pivoted and persevered, capitalizing on the enduring relationships we’ve cultivated with our clients over many years, and I think this set a strong foundation for us as we entered 2021,” said Rademaker. “Instead of entering the year at a deficit, we simply built on the steady flow of business we maintained throughout 2020. As the leading real estate brokerage in The Bahamas, Damianos Sotheby’s International Realty continues to grow in strength and numbers. Developing, mentoring and nurturing our team members are top priorities for our leadership team, and that’s reflected in our remarkable track record of success.”
Damianos Sotheby’s International Realty has been an industry leader since 1945 specializing in the listing, marketing and sale of luxury and waterfront properties. With 10 offices throughout The Bahamas, Damianos Sotheby’s International Realty boasts the most experienced and successful team of real estate professionals, consistently ranking among the top producers in The Bahamas real estate industry.
About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 10 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Harbour Island, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay, Albany and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2305 or Info@SIRbahamas.com.
About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,700 affiliated independent sales associates located in over 1,000 offices in 72 countries and territories worldwide. Each office is independently owned and operated.