The Tribune

A Bahamian real estate firm says it has been appointed as the exclusive broker for a new waterfront residential development under construction on property next to Grand Bahama’s Taino Bridge.

HG Christie, in a statement, added that one residence has already been sold, with further homes expected to come to market as construction progresses. It said the project’s developer, Hanno Strack, has spent the last 20 years planning, designing and building waterfront residential communities in Majorca and, now, The Bahamas.

Mr Strack’s other Bahamas projects also include The Coral Villas, located off Coral Road near Royal Palm Way, where the first completed model residence is now ready for prospective buyers to view.

HG Christie said the arrival of new real estate inventory was particularly significant given that Grand Bahama’s property market is showing renewed signs of activity following a prolonged period in which relatively few new residential developments came to market.

“We’re excited to be representing The Beach Residences at Taino Beach, but we’re equally excited about what these developments represent for Grand Bahama,” said John Christie, HG Christie’s chief executive and lead broker.

“For a long time, there simply hasn’t been enough new development. We are beginning to see that change, and we believe projects like these can help create momentum for other developers to take a fresh look at Grand Bahama.”

Mr Christie said the island needs new investment across several segments of the housing market, including properties designed to serve the tourism and short-term rental sector as well as homes for local residents.

“Grand Bahama needs inventory,” he said. “We need quality properties that can appeal to investors and visitors, but we also need developers building homes that local families can afford - and communities can grow - with all the new projects coming online. It’s an encouraging sign that the market is beginning to move in the right direction.”

The Beach Residences’ town houses feature three bedrooms, and are designed to overlook a private pool and a private dock on Freeport’s canal system. Mr Strack said the combination of location, design and flexibility was intentional.

“We built these homes with today’s buyer and today’s traveller in mind,” he said. “People want privacy and space, but they also want the option of using the property themselves and renting it when they are away. Waterfront access adds another dimension to that experience.”

That combination is particularly relevant to Grand Bahama’s growing visitor economy, which is severely lacking hotel rooms, so there is demand for private properties that can function as vacation rentals while also providing owners with a personal retreat.

Sarah Kirkby, an HG Christie realtor and co-listing agent, said: “Increasing our inventory is important as Grand Bahama begins to regain momentum and property sales increase.” 

She added that the development’s flexibility could make it attractive to buyers who want an investment property without giving up the ability to enjoy it themselves. “I think Hanno has chosen a concept that fits the market very well,” Ms Kirkby said.

“An owner can come to Grand Bahama, enjoy the property, the pool and the easy boat access - and then rent it to guests when they’re not here. We have a real shortage of this type of accommodation, particularly properties with three bedrooms, a pool and a dock that Florida residents can pop over for weekends and enjoy.”

“We’re excited to be part of this next chapter,” Mr Christie added. “When developers are willing to put capital into new projects, it creates confidence. It creates opportunities for buyers, investors, workers and businesses. We want hope to see more of it.”