The Tribune

Andrew Seymour explores the reasons for migration from the east of the most populous of the Bahamas islands.

At the time of Bahamian independence, New Providence was very different from what we know it to be today.

The dense population was situated in the heart of the island with a few families spilling over into the east.

The nucleus of the country was downtown Nassau, where the centre of commerce for the newly independent nation took place in the hustle and bustle of everyday life.

But for many, the busy centre became overwhelming and real estate in the east became a shining symbol of luxury, a hot commodity - the new ideal for those who could afford the move and the dream of those who hoped they, too, would one day live on or near Eastern Road in particular.

More than 40 years later, there has been a dramatic shift. Easterners have a new ideal - the west.

Ironically, it was the popularity of the east that is driving real estate traffic westward. The steady development from the late 50s to the 90s in the east left little land available for new construction while vast areas remained open in the west. The change is evident in satellite photos from the National Aeronautics and Space Administration (NASA) images between 1973 and 2006. In 1973, available land in the eastern district was plentiful. In 2006, the images from the east show an area so densely developed that they look like they were taken from another land.

While little available land remained east, the west was ripe for activity and new communities sprouted up in every price range. Gated communities like Balmoral, Venetian West and Charlotteville - all west of downtown Nassau - provide options for young professionals and established families, generally with a budget of under $1 million.

For buyers with deeper pockets, choices include Lyford Cay, Old Fort Bay and Albany, all with golf courses or clubhouses that would grace the cover of a luxury lifestyle magazine. And as residential property choices have spread westward, shopping plazas, banks, medical and other professional offices along with numerous restaurants have sprung up to accommodate the migration. That migration and the westward trend were substantial enough to warrant construction of the first new large private school in New Providence in years, Windsor Preparatory Academy.

I believe the momentum to the west will continue to build. With the luxurious $3.5 billion Baha Mar development, even if delayed at the moment, surrounding Cable Beach properties are already beginning to appreciate in value. Pre-construction sales were strong at the luxurious new ONE Cable Beach development of luxury beachfront condos.

Once Baha Mar opens, property values can be expected to increase significantly. If the new resort follows the pattern of other resorts in its impact on neighbouring properties, it is also likely to generate rental demand, especially for smaller one-bedroom and efficiency rental units.

In my opinion, the west is where it’s at and where it will be. The west is the future of New Providence.

Andrew Seymour is a sales agent with Mario Carey Realty

NEXT WEEK: Antoine Adderley on what to look for in a property appraiser.

Experts and specialists at leading real estate firm Mario Carey Realty are providing advice aimed at helping buyers, sellers, renters and those who want to build their dream home navigate the world of residential and commercial real estate in a weekly series of articles in The Tribune.