Private islands continue to trend in the local real estate industry, where wealthy investors are interested in sinking their money into a place that is safe, secure and secluded during the COVID-19 pandemic, Managing Partner of C.A. Christie Gavin Christie said yesterday.
Christie, who was part of a webinar with Super Luxury Group, said as a result of the pandemic, wealthy investors are moving out of large, metropolitan areas and some have set their eyes on The Bahamas’ private islands.
“They see it as an investment in security, safety and seclusion and these are the new words we’re seeing in the luxury space,” said Christie.
“Before it was penthouse, now it’s private island. The Caribbean is trending at this current point. The private island market is extremely hot.”
Christie said trends often take years to catch on, but COVID-19 has accelerated the trend in private island purchases.
He said, however, that there is a very small group of wealthy individuals who will be able to invest in a private island.
Christie is working on a novel service that would meld his realtor services with sea plane and private jet companies, so that they can begin daily luxury real estate tours out of South Florida.
Christie said while the local real estate sector was initially left unsure about what impact COVID-19 would have, certain positive trends are now taking hold.
“Initially we had a lot of persons, agents, investors, buyers who sat on the fence and tried to figure out how we survive and thrive in a COVID-19 market and thinking that it would only last X amount of months,” he said.
“And here we are…this is here with us to stay and the question is how do we function today within this COVID-19 market?
“Social distancing is the new luxury.”