Shoreline Properties Luring Americans

Shoreline Properties Luring Americans

GRAND BAHAMA ISLAND, The Bahamas, December 3, 2004 – Shoreline Properties, a Bahamas-based luxury home builder, is expanding its marketing efforts to the United States. The company is building a master planned community on Grand Bahamas island and is targeting U.S. residents, said Keith Jervis, director of sales. He added that much of the coastal real estate in Florida has been purchased already and many U.S. families have shown a preference for staying closer to home following the Sept. 11 attacks, making the Bahamas a more attractive opportunity.

Shoreline has sold 36 of the 76 houses in its gated community, which includes community pools and restaurants. This represents more than $10 million in sales so far this year. The company builds with materials that have traditionally held up well during hurricanes, Jervis said, adding that this year's storms did only minor landscape damage. Prices range from $650,000 to $2 million and from 2,500 to 4,500 square feet. Most of the company's clients are European. Shoreline Properties decided to build in the Bahamas because of the available land. "There is a lot of beach front that is unspoiled and underdeveloped," Jervis said. In addition, the infrastructure is solid and the country is politically stable and well-located for both Europeans and Americans. He added that there are a number of Florida developers that have purchased tracts of land and are building nearby. The National Association of Realtors estimates Americans bought a record 445,000 second homes last year.