NASSAU, BAHAMAS — The private island market is “trending like it never has before”, according to one local realtor, noting that social distancing has become the new luxury for ultra high net worth individuals.
Gavin Christie, CA Christie’s managing partner and broker made the observation during an online interview by the Super Luxury Group.
He said: “It used to be penthouse and now it’s private island. The private island market is extremely hot. It is trending like it never has before.”
Christie said ultra high net worth individuals see it as an investment in safety, security and seclusion.
“It’s not just about square footage anymore,” he said.
“This is why The Bahamas is really set up for a time like this, when social distancing is the new luxury. If I were to sum up the takeaway from this pandemic it is that social distancing is the new luxury for the ultra wealthy.”
Christie recalled recently closing a deal he described as ‘personal milestone’, where a billionaire had fled a metropolitan city due to the pandemic and wanted to quarantine in The Bahamas.
“They decided they wanted to rent a property for north of $300,000 a month.”
“The words in luxury now are safety, seclusion, privacy and off the grid. These are trending in every conversation with our high net worth clients,” Christie said.
Christie also noted that he saw the need to connect the Bahamian luxury market and that of South Florida, noting the similarities and synergies.
“I saw the need to connect that bridge,” he said.
“We are in the process of working out a program we are going to be offering daily luxury real estate tours of The Bahamas out of South Florida. I think it is going to be well received.”