Why The Bahamas Is A Billionaire Playground
What do you get when you combine the seclusion you feel looking over the turquoise waters of the Caribbean with the convenience of 2-day Amazon Prime delivery?
A paradox, perhaps. But in the Bahamas, it’s the new reality.
In this cluster of islands in the Atlantic Ocean, where tranquility and privacy are ubiquitous, a lifestyle rich in modern conveniences is increasingly drawing the world’s billionaires. Oceanfront mansions, superyachts and multi-million-dollar golf deals in tow.
“There’s a perception that moving to an island is going to be complicated,” says Ryan Knowles, founder of MAISON Bahamas. “We have Starbucks. We have Nobu.” And now, it seems, free Amazon delivery on orders over $49.
Beyond big American and international names, the Bahamas is also home to a burgeoning arts and culture scene, world-class resorts and restaurants helmed by Michelin-acclaimed chefs. Together, these elements are redefining the island’s appeal to the ultra-wealthy.
Upscale wellness centers like Champion Spirit Country Club, which bills itself as a 360-degree wellness resort, and the Aspara Social Club are catering to the growing billionaire crowd with saunas, padel courts and cryotherapy chambers. Not into wellness retreats? The contemporary art scene is also experiencing a boom. The Tern Gallery, which showcases local Bahamian and Caribbean contemporary artists, has gained international attention—so much so that one of its artists was recently featured at New York’s prestigious Armory Show.
Culture, Gastronomy and… Tax Advantages
The Bahamas’ attractive tax regime is a major draw. With no income, capital gains or inheritance taxes, the financial benefits for the ultra-wealthy are clear. For those investing at least $750,000 in real estate, the government sweetens the deal with permanent residency, along with its own unique tax advantages.
Accessibility is another key selling point. A mere 30-minute flight will take you from the tourists in South Beach to the swimming pigs in secluded pink-sand beaches. For global jet-setters, a new direct 8-hour flight to London Heathrow adds even more convenience. And when it comes to busy high-net-worth individuals and entrepreneurs, “time is the number-one currency,” Knowles points out.
Growing Real Estate Market
The result? The Bahamas is now home to the world’s third fastest-growing luxury housing market, with average prices rising 15% in 2024. Oceanfront estates are commanding record-breaking prices, and investment is pouring in.
Case in point: Baha Mar. Nassau’s premier luxury resort is said to contribute a staggering 12% to the nation’s GDP. Adding to its foothold, the resort is planning a new 350-room hotel and residential development designed by renowned architects Foster + Partners, their first project in the Caribbean. The expansion will bring even more luxury amenities, joining the ranks of a new 300-seat jazz club, two art galleries filled with local Bahamian artists and an annual Culinary & Arts Festival already on the property.
But there’s more to the Bahamas than luxury resorts and tourism offerings (which welcomed over 9.65 million visitors in 2023, a 38% YOY increase).
The Pinnacle of Exclusivity
Take Lyford Cay in New Providence, the epitome of exclusivity and one of the country’s most prestigious gated communities. Behind its secure gates lies more than just mega-mansions. There’s a 61-slip marina, an 18-hole golf course, a private sailing club, six restaurants and even a school.
Among these multi-million-dollar properties sits Beluga, a 2-acre oceanfront property currently on the market for USD $50 million. The estate features five bedrooms within 10,660 square feet of modern living space, an anomaly in the traditional homes in Lyford Cay. Italian marble and tiles line the kitchen. Outside? A few steps puts you on the sandy shores of Clifton Bay. An outdoor deck, swimming pool and mature palm trees round out the property. Knowles has the listing. Read full reference article. Contact Boujee Bahamas for all things luxury in The Bahamas.
