The Nassau Gaurdian
MORE FOREIGNERS BUYING INTO BALMORAL
January 19, 2011
With 100 percent of the Phase One units and 80 percent of Phase Two already sold, Balmoral is seeing a growing trend toward foreign ownership in the exclusive gated community.
Though The Balmoral, located in Western New Providence, presently has an 80 percent Bahamian ownership, the recent trend has seen foreign investors coming in.
Jason Kinsale, Principal at Balmoral, told Guardian Business that recent sales were to foreigners, and the last four were all to Canadians.
As prices increase he hopes Bahamians are not left out of what he described as an "opportunity".
"Bahamians always complain about the foreigners coming in and buying. We need that investment, but I'm also concerned that Bahamians are getting a little bit of cold feet right now, and they are going to miss a lot of the opportunity", said Kinsale.
Although Kinsale said that 2010 was a difficult year, the company was able to raise prices by eight percent, and still sell out all Phase One units. He also said the company would probably increase prices by another eight percent this year.
MORE FOREIGNERS BUYING INTO BALMORAL
January 19, 2011
With 100 percent of the Phase One units and 80 percent of Phase Two already sold, Balmoral is seeing a growing trend toward foreign ownership in the exclusive gated community.
Though The Balmoral, located in Western New Providence, presently has an 80 percent Bahamian ownership, the recent trend has seen foreign investors coming in.
Jason Kinsale, Principal at Balmoral, told Guardian Business that recent sales were to foreigners, and the last four were all to Canadians.
As prices increase he hopes Bahamians are not left out of what he described as an "opportunity".
"Bahamians always complain about the foreigners coming in and buying. We need that investment, but I'm also concerned that Bahamians are getting a little bit of cold feet right now, and they are going to miss a lot of the opportunity", said Kinsale.
Although Kinsale said that 2010 was a difficult year, the company was able to raise prices by eight percent, and still sell out all Phase One units. He also said the company would probably increase prices by another eight percent this year.
