Palmetto Bay Resort

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PALMETTO BAY Resort
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Exuma Real Estate

Own a Slice of Paradise

More Ways to Stay

Invest In Exuma Real Estate

Now's the time to claim your piece of paradise

Discover a strategic investment opportunity at Palmetto Bay, Exuma, as The Bahamas undergoes substantial development, including a new airport facilitating direct flights from Europe and major North American cities. 

With infrastructure improvements like the expansion of the Queen’s Highway, Palmetto Bay emerges as a prime choice for astute investors seeking a stake in the growing luxury Exuma real estate market. 

Explore ownership possibilities in this evolving destination, strategically positioning yourself for returns in one of the most promising locales in The Bahamas.

We have BIG plans for the Palmetto Bay Resort. Our plans are to construct 7 more Beach Front Villas to accompany the 3 currently in place, along with the development of up to 72 separate luxury, ocean view Condos. This presents a fantastic opportunity for those interested in investing in an Exuma real estate property.

The Vision

The Future Of Palmetto Bay Resort

Invest in your next holiday home

Investment Properties

Choose a Property to invest in

The resort will be made up of a selection of different properties. You can choose whether you want to invest in a Beach Front Villa or in one of the Oceanview Condos. 

Beachfront Villa
Ocean view Condo

Benefits of investing in Exuma Real Estate

Why Invest in Palmetto Bay Resort?

access
Return on investment

The prime location and ongoing infrastructure developments in Exuma, Bahamas, make properties in Palmetto Bay poised for potential appreciation over time.

hotel
Dual Purpose property

Enjoy the dual benefits of living in luxury while earning income through strategic short-term rentals

bathrobe
Live in absolute Luxury

Live in the pinnacle of luxury as each property is crafted with expert precision, promising a haven of opulence and sophistication

five stars
Own a slice of Paradise

Own a piece of paradise in beautiful Exuma, Bahamas, one of the most breathtaking destinations on Earth. Palmetto Bay offers the chance to call this extraordinary place home.

Frequently Asked Questions

We have compiled a list of our most commonly asked questions. Whether you’re seeking information on accommodations, activities, or travel essentials, this resource is designed to provide quick and comprehensive insights, ensuring a seamless and informed journey to Exuma.

The homes are constructed with concrete block, 50-year Wallaba wood shingles and Miami-Dade rated
hurricane proof windows and doors.

Owners wishing to rent their property out will place their property in Palmetto Bay Resort’s Hotel
Programme with bookings and management to be handled by the resort.

1. The resort’s Hotel Programme is a voluntary rental program managed by the resort for
homeowners who wish to make their property available for rent to individuals wishing to stay
on a short-term vacation rental basis. This Programme gives participants an opportunity to
outsource the management of their property to the resort in a cost-effective, “hassle-free”
manner.
2. Benefits of placing your property in the Rental Programme include duty-free imports of
qualifying furniture and equipment for your property; a waiver of the annual property tax on
your home; the opportunity to generate an attractive, “hassle-free” rental income with the
maintenance and management of your rental bookings and guests handled by the Resort.

Exuberant Development builds luxurious homes and condominiums in breathtaking locations with a
focus on high-end construction. Added attention to architectural design, long-lasting quality, and after construction property maintenance is a trademark component of our developments.

The homes are being sold turnkey inclusive of all appliances, furnishings, linens and kitchenware.

From start to finish after breaking ground, anticipated delivery of your new home will take 11 months (delays due to storms etc. to be factored in as needed).

Typical closings in The Bahamas take around 60-days from signing of your sales agreement. When financing is involved, the process may take longer, approximately 90-days

Currently, owners will be billed $550 per month for landscaping services. Other services may be selected on an a la carte basis and properties placed in the rental pool will be billed for variable maintenance (depending on rentals), to be deducted from the rental proceeds.

Completed homes:
10% of the purchase price is required with a standard 90% due upon completion in addition to half of the Government VAT (5% of the purchase price) and Purchaser’s legal fees (typically 2.5% of the purchase price plus 10% VAT on legal fees).


Pre-construction: stage payments during construction will be applied as follows:

  • 10% down payment
  • 40% installation of windows & doors
  • 30% completion of drywall
  • 20% due upon delivery of your completed home plus applicable VAT and legal fees.

Purchasers will be expected to pay half of the Government VAT tax 5% and their legal fee (typically 2.5% of the purchase price plus 10% VAT on legal fees)

Financing is available through a selection of commercial banks including RBC, CIBC and Scotiabank. Foreign buyers are typically asked to make a minimum down payment of 30% of the purchase price and will likely be required to pay Purchaser’s closing expenses (VAT tax and legal fees) in cash.

The homes will be insured while under construction and once completed, homeowners will be billed quarterly for their insurance based on current rates and the value of their property inclusive of
contents.

The Bahamas is a tax haven for many foreign residents. We offer permanent residency status on purchases above $750,000 and accelerated permanent residency consideration for purchases above $1,500,000. Permanent residency status allows homeowners to reside in the Bahamas for as long as they wish. Annual Residency Permits are also available for any homeowners who purchase at any purchase price and these can be renewed annually.contents.

Non-Bahamian purchasers will need to apply for a permit from the Bahamas Investment Authority
should they opt to include their home in the resort’s rental program. Your attorney will initiate the
application process on your behalf.

Owners who place their home in the resort’s Rental Programme will benefit from the Bahamas Hotel
Encouragements Act and will have their annual property tax waived. In order to receive this incentive, owners must reside in their unit 90-days or less per annum. Owners who do not wish to rent their homes in the resort’s Rental Programme will pay the standard tax rate as follows:


In respect of owner-occupied property:
• The first $250,000 of market value is tax-exempt
• More than $250,000 and not exceeding $500,000 of market value is 0.625%
• More than $500,000 and not exceeding $12,000,000 of market value is 1%
• More than $12,000,000 of market value is capped at $120,000 annually


In respect of any other property:
• First $500,000 of market value is 1%
• More than $500,000 of market value is 2%

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