Luxury Real Estate Advisor
Alex Jupp earned his real estate license almost ten years ago in the peak of the worst economy the modern world has experienced. In March 2009, the US stock market dropped to its lowest point of 6,594.44 and as goes the US economy so does The Bahamas', where it is said to be 6 months behind. Real estate sales at the time were virtually non-existent.
Things have certainly changed a lot since then. “This is the most opportunistic time in the market that I have seen,” says Alex. “Buyers and Sellers feel like it is the right time to make a move in their lives. Whether it's young professionals making their first investment or families securing a future, people are making the real estate investment.”
The government is also making moves by adopting policies like the Commercial Enterprises Bill which aims to fast-track and streamline companies wishing to do business in certain parts of The Bahamas economy and the banks are contributing to a strong market with aggressive mortgage lending, all fostering a robust real estate market.
“I am seeing a lot of buyers as young as the late twenties. Young professionals with steady well paying jobs that are looking to build equity in good income producing real estate. It’s a smart move that I am putting a lot of energy and effort behind,” says Alex. He is seeing buyers from all backgrounds from local lawyers, bankers and business owners to a growing European clientele including French and Italians looking for good income investments. He identifies gated communities in particular as a popular investment because of the standards in the restrictive covenants which generally equate to better value, attracting increased rental income and overall long term appreciation. “There is also the social factor, amenities and security in a gated community. Beyond the real estate there are also lifestyle features which are an invaluable investment,” he says.
Alex credits his success to hard work and the research he puts in for each client so that he can advise and guide clients with market driven data that shows where the real estate value can be realized. He uses a similar strategy when working with his sellers. “Research, market conditions and a comparative marketing analysis (CMA) are very important for a seller to know how their property is positioned in the market. Additionally, the property needs to show well so intelligent and cost effective improvements need to be considered and finally the strategy to make the property stand out.”