NASSAU, BAHAMAS - Located just 180 miles off of Miami’s coast, Palm Cay is the ultimate upscale residential community outside of Nassau in the Bahamas and has experienced a recent spike in sales with single family residential lots leading the way.
“We are very pleased to report that we have experienced a solid and steady increase in interest in home ownership in recent months, particularly among young professionals,” said Palm Cay’s Sales and Marketing Director, Zack Bonczek. “As of the last week in November, more than 70% of the single family residential lots have been sold and there is considerable interest in the remaining 20 lots.” Prices range from $155,000 to $220,000.
According to Bonczek, the jump in traffic through Palm Cay among persons wanting to own a home of their own will translate into more construction jobs and activity at the already bustling 69-acre family-oriented community.
“We have several families right now who are pouring over plans to decide which of the model homes – all designed by Bahamian architects – best suits their needs. Of course, they are also free to choose their own architect but what they all seem to share is a sense of excitement,” said Bonczek. “The interesting thing is that the big push is on for single family residences whereas a few years ago the trend was toward townhomes. We are also seeing an increase in interest in the higher end townhomes footsteps from the beach or the second row of townhomes with a water view, though we look forward to the approaching season when we believe that interest will convert to closings.” Those 3-bedroom townhomes with generous balconies, granite countertops and high-end appliances start at $649,000.
The nautical community with a 194-slip marina – the closest marina to Exuma – also features less expensive townhomes in its popular Garden Villas section. Its first pre-construction condominium offering at an area called The Anchorage was oversubscribed.
Everything Palm Cay does is geared toward creating a safe, secure, fun-filled family atmosphere. Last month, luxury community unveiled its two new tennis courts, fenced and lighted for night play. Last week, it opened the first playground in The Bahamas built for the entire family with equipment in all sizes to suit the mom-pop-teen-‘tween and toddler market. In addition to three pools, it is converting a former clubhouse into a full-fledged restaurant with indoor and al fresco dining. A harbour master’s office is nearing completion and the central beachside gardens are often the setting for everything from watching sailing to art exhibits, cocktails by sunset to competition among those who take beach volleyball as seriously as summer Olympics.
“We hope that the surge in interest is partly because of what we are offering, but partly because it signals a real optimism about the economy,” said Bonczek. “And the reality is that in The Bahamas, real estate has proven to be one of the smartest investments you can make.”
About Palm Cay
Palm Cay is a 69-acre residential community along New Providence's southeastern shore in Nassau, Bahamas. It features over 300 properties, including single family lots, townhomes, and condominiums along with a 194-slip, deep water, full service marina. Additional amenities include a clubhouse, two tennis courts, playground, swimming pools, and 1,500 feet of oceanfront with a 1,200 foot long beach. Future plans for Palm Cay include a fitness center and full restaurant.