Shoreline Bahamas Project 90 Percent Sold

Residential News » Residential Real Estate Edition | By Kevin Brass | March 19, 2010 10:30 AM ET

(GRAND BAHAMA ISLAND, BAHAMAS) -- Only eight houses are left in Shoreline Bahamas, the 76-unit development on Grand Bahama, the developer says.

Launched in 2002, free-standing houses in the development range from 2,610 to 4,560-square-feet, and are priced between $850,000 and $2 million.

While there hasn't exactly been a flood of buyers in the Caribbean in last two years, there has been a steady stream of activity, according to a project spokeswoman.

Six houses sold in 2008 and another six in 2009, including four to a group of U.K. investors who are now reselling their houses, she said. Only one house has sold so far in 2010, but the project has seen "a tremendous uptick in activity since January," she said.

Second home buyers in Shoreline Bahamas are typically split between the U.K. and the U.S., with a few Canadians, the spokeswoman said.

Buyers can choose from 10 different floor plans which are constructed within nine months or they can pick an already built turnkey, move-in-ready house, according to sales materials.

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