The Pandemic has caused chaos across the world. It’s been especially harsh to businesses and the travel industry. Even though travel ceased, the interest for real estate in Bimini was so great that it caused a “Bimini Boom.”
In the last two months (Jan-Feb 2021) alone, the Bimini real estate market has exploded. Newly listed properties for sale in Bimini have been too hot to keep on the market long, as they’re garnering multiple offers on the same day as the listing. (This may be a normal activity in larger real estate markets in the United States and Canada, but for island real estate, this isn’t typical).
Where exactly is Bimini?
Bimini is the smallest largest island in the Bahamas, but more notably, it is the gateway to the Bahamas, lying just 50 nautical miles off the coast of South Florida. “Bimini and South Florida are so close that on a calm sea day, visitors arrive by jet ski from Miami to the shores of Bimini,” says Luxury Bahamas Broker Sheldon Pitt.
“Visitors especially have always held a special spot for the island of Bimini and have been residing permanently, visiting and scoping up vacation homes on the island for the last few decades,” says Pitt. Why? Pitt says it’s because Bimini is very close to Florida. And he says, “Floridians make up a large percent of the Second home Market on the island.”
Why are people drawn to Bimini?
Sheldon Pitt: Bimini is packed with History! The great writer Ernest Hemmingway lived on the island for a period, as well as Adam Clayton Powell. The Island has been graced with visits from the great civil rights leader Martin Luther King Jr. and former U.S. Presidents
Most first-time visitors to the island of Bimini island turn into life-long visitors and even second homeowners.
Are there any fun facts about the island of Bimini?
Sheldon Pitt: There are a ton! First, Bimini is well known for hosting large fishing tournaments with participants from all over the world. The goal is to catch prized fish such as the Blue Marlin, Sailfish, Tuna and Mahi Mahi (dolphin).
Second, Bimini is home to The Fountain of Youth located on South Bimini, and The Healing Hole located on East Bimini. These locations are where locals and visitors go to soak in the benefits of the water’s acclaimed healing powers.
Third, Bimini is known as a golf cart destination because golf carts are the main modes of transportation on the island.
Fourth, Bimini is home to the largest marina in The Bahamas. Bimini acts as a sailing stop-off point on their way down to the Bahamas archipelago and then on to the Caribbean, and then it’s the last stop on the way back to the USA and Canada.
What’s the process if someone is interested in purchasing real estate in Bimini?
Sheldon Pitt: The process of purchasing real estate on Bimini is very similar to the purchasing process in North America, with a slight variation in the closing lengths.
Popular purchases on the island are the Beach Condos and homes at Resort World Bimini (the offering ranges from 1 bedroom condo units, townhomes, and single-family beach homes with access to the Hilton Casino, private pools, and restaurants). Rockwell island (a collection of exclusive luxury beachfront homes/villas) and Port Royal (a tranquil beachfront community on South Bimini) are also very popular choices.
Financing is also available for non-Bahamians/residents looking to purchase real estate. If you’re interested in purchasing real estate in Bimini, visit www.bettermcrbahamas.com for listings and further support.