Bahamas Real Estate

In 1959 The Bahamas Real Estate Association (BREA) was founded to "unite the Real Estate Brokers, and their associates in The Bahamas", "to promote and maintain the highest standards of conduct...as expressed in the Code of Ethics", and "to PReVENT infringements" in the real estate industry in The Bahamas.

The real estate market in The Bahamas has been relatively resilient even with the global economic downturn and real estate values plummeting in the USA. Sales prices have been maintained with only a modest 10-15% correction in most cases.

Only 2 short years ago The Bahamas real estate market enjoyed unprecedented growth and values were at their highest levels in history, not only in Nassau, but in the family islands of Abaco, Eleuthera, Exuma and Grand Bahama. Early reports in 2009 showed a small correction in high end real estate values, on average AbOUT 10%.

Real Estate in The Bahamas continues to be an attractive investment opportunity. Real estate transactions in The Bahamas and inquiries have increased from a year ago when the economic future of the world was uncertain. With global economic stability on the horizon and a locally stable government and currency, it is expected The Bahamas real estate industry will continue to grow and even outpace world averages.

Bahamas MLS

On March 17, 2008 The Bahamas MLS (Multiple Listing Service) was soft-launched for the Bahamas real estate professionals. The Bahamas Real Estate Association (BREA) implemented the Bahamas MLS which currently has over 145 licensed members using the system.

After consulting with a few web developers BREA decided to go with the system INTERFACExpress provided by the company Realty Server. There are a few tweaks to be done to this system to improve the interface, but all in all in works great.

On September 1, 2009, BREA announced to Bahamas estate agents that a decision was made to go live and make The Bahamas MLS public. The layout of the public MLS site is currently under discussions.