The top vacation home rental performers can be found in South Abaco and Harbour Island with an annual income – in the case of Abaco – of $300,000 and average daily rate (ADR) of $2,500, according to Engel and Volkers Bahamas’ 2019 vacation rental report.
For Harbour Island, the annual income from vacation rentals is shown to be around $250,000, with the ADR at just above $2,000.
The report shows South Andros and Exuma to be the next biggest performers on the vacation rental market.
According to the Engel and Volkers report, the data was compiled to provide the country’s real estate industry with “a baseline study of the vacation rental market in The Bahamas”.
The report’s information was extracted from vacation rental data website AirDNA, which compiles data from websites Airbnb and Homeaway.
“Over 4,200 properties have been used in this report and it is important to note that not all vacation rentals in The Bahamas are reported through Airbnb and Homeaway,” the report states.
“However, at the present time this is the most centralized public data system of which to comprise a market report. The key data extracted for this report for all transactions are the average daily rate, monthly occupancy rates, annual income, average bedrooms and average guests per rental.”
The report shows that total vacation rental units on New Providence are about 1,400; Eleuthera at about 800; Abaco at just above 600; and Exuma and Grand Bahama just above 400.
Cat Island, Long Island, Bimini, the Berry Islands and Andros all report as having less than 200 units, according to the report.