Now is the time to book your direct flight from Los Angeles to NassauSeptember 5, 2023
What The Bahamas’ expansion into the West Coast market could mean for your real estate portfolio
Starting November 4, 2023, JetBlue Airlines will offer a once-per-week direct flight from Los Angeles International Airport (LAX) to Nassau, Bahamas. Announced back in June, this move comes as JetBlue further expands its service to the Caribbean. The move that may have come sooner if the global pandemic never happened comes as The Bahamas sees a record number of visitors to its shores post-pandemic, proving once again that it is still better in The Bahamas. For avid travelers who may not be able to beat LA traffic to catch a Saturday flight to Nassau, fear not! In December, Alaska Airlines will offer seasonal flights direct from Los Angeles and Seattle-Tacoma Airport to Nassau. Did someone say options? We love them.
How will this impact our real estate market?
While The Bahamas’ Ministry of Tourism, Investments, and Aviation continues to export our primary product to the lucrative West Coast market, one question remains: how will this impact our real estate market? If Adele’s recent purchase of Hollywood’s favorite on-screen boxer, Sylvester Stallone’s, $58 million Los Angeles compound indicates the market’s buying power, we look to the near future with great expectations!
For buyers who want to snag a second or third home in a coastal area, what better place to look than The Bahamas? In the post-COVID era, The Bahamas experienced what MAISON’s Founder, Ryan Knowles, described as a “crazy, frantic” buying frenzy as buyers snagged high-end single-family homes throughout the archipelago. On the heels of a historic performance in 2022, The Bahamas’ real estate market has experienced what Ryan describes as a “cooling off” as high-end sales were down by 20-25 percent in the first quarter of 2023. Overall, luxury properties saw price drops as high as 15 percent in the post-pandemic era, signaling that we are now in a more balanced market.
While the road to home ownership in a foreign country can be challenging, it’s a road you won’t have to travel alone when you are under the guidance of the real estate experts here at MAISON. Apart from unbridled access to pristine beaches with waters so clear you can see them from space, and a slower, more peaceful pace of life, there is another incentive for homeowners who want to escape the bustle of North American life – permanent residency. When you purchase real estate valued at $1,500,000 or more, The Bahamas’ Department of Immigration gives you speedy consideration for Permanent Residency. You may also include your spouse and children under 25 in your application for residency at no additional cost. Permanent Residency grants you and your dependents the right to live in The Bahamas indefinitely. How is that for a staycation?
Planning your holiday in The Bahamas
For those who often travel to Hawaii and Miami for tropical getaways, a trip to The Bahamas is even more promising coming from Los Angeles or Seattle, where direct flight times are comparable. The Bahamas promises variety not offered in those destinations. For a “livelier” time, our capital of Nassau remains the primary destination. However, if you want the quintessential island experience, The Bahamas offers 16 islands, including Harbour Island, our version of Martha’s Vineyard or The Hamptons; the Exumas, a chain of islands where you can swim with pigs and sharks and feed iguanas; or Long Island where you can test your deep sea diving skills in Dean’s Blue Hole, the world’s second deepest blue hole. The possibilities are endless!
As a first-time traveler, you may not be in the market to purchase a second home in The Bahamas – that is okay. In the post-pandemic era, Airbnb is booming in The Bahamas as many homeowners offer their properties for short and long-term rental. MAISON partners with such owners to help make your first trip to The Bahamas one you will never forget. Your next holiday begins here.
The introductory rate for JetBlue’s inaugural flight to The Bahamas starts at $159 one-way from LAX to Nassau, while Alaska Airlines’ rates start at $189 one-way from Seattle to Nassau. Connect with us when you book your trip – we are ready to welcome you home!
- American passport holders do not need visas to enter The Bahamas. Your passport allows you to stay in The Bahamas for up to six months as a tourist.
- You do not need special vaccinations to visit The Bahamas.