Palm Cay revealed in its latest newsletter that 2022 was the gated community’s best sales year on record, contending the community is best location in The Bahamas for an investment property.
According to the newsletter, the community sold more than 50 units over the calendar year “at a rate greater than a sale per week”.
“The strength of our products from an economic standpoint will only continue to increase,” the newsletter states.
“Not only will our properties continue to maintain robust economic flexibility, but our amenity drive and build-out, will mean that nowhere in The Bahamas will be able to match Palm Cay in terms of facilities.”
The information explains that Palm Cay’s Galleon Bay phases one, two and three are sold out; its One Marina phase two is sold out and its One Marina phase three has only two units remaining.
It adds that its Cove area has only five units remaining, with the completion of that area due in June of 2023; and Starfish Isle has only one unit remaining, with the completion of that area slated for February 2023.
“This historic sales year has resulted in us having to increase the speed of our build-out timeline, with The Palms and Little Palms recently launching, with construction set to begin in March 2023,” the newsletter explains.
“The Palms will feature a ‘colonial modern’ concept which combines the classic colonial concepts and features which have been so prevalent throughout the development of Palm Cay, with the modern, chic style of One Marina and Cove.
“This has created a truly architecturally unique product, which will provide a stunning addition to our marina frontage.”
Palm Cay explains that The Palms’ ten units will range in price from $650,000 to $1.94 million, while Little Palms units will begin at $560,000.
The newsletter said the community currently has seven large-scale residential construction projects ongoing, along with several commercial projects ongoing given the sales boom this year.
The community explained that it will also begin selling its own high-quality furniture from a dedicated sales room within the community.
“Starting January 2023, along with the Spa and Provision store construction, Palm Cay will commence the building of its own in-house furniture collection and show room,” the newsletter states.
“Not only will this furniture be available in package options for new residents, but will also be available to buy straight from our showroom.”