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Developer’s in-house financing spurs sales

In-house financing initiative by Balmoral Development Ltd has promoted sales of condos and town homes in the exclusive New Providence community. 

Source:
Date:
Updated:
TheBahamasInvestor.com
Thursday, November 29, 2012
Thursday, November 29, 2012

With fewer banks and other financial institutions issuing mortgages since the economic downturn, Balmoral Development Ltd has been providing access to in-house financing with less stringent requirements for real-estate investors to facilitate processing time.


Condos and town homes are available for $289,000 to $595,000 at the New Providence development.

Since the financing initiative began six weeks ago, the number of direct buyers has increased dramatically, according to Balmoral.

Jason Kinsale, principal of The Balmoral Development Ltd, says: “The real estate market seems to be progressing as confidence returns to the Bahamian market.”

“With the housing recovery under way, real estate investors can expect a significant return on investment.”

The in-house financing offer will continue until December 31, 2012.

Renderings

Computer renderings of luxury accommodation at Balmoral. (Source: Website)

Following two days of bilateral talks in the Dominican Republic at the end of October, the Dominican Republic and the Bahamas are holding a second round on a range of issues including maritime security. Pictured: (above) Minister of Foreign Affairs and Immigration, the Hon. Fred Mitchell (centre) was among a number of senior Government and law Enforcements officials attending. (BIS Photo/Patrick Hanna)

Industry leaders and key policy makers will join a panel discussion on the World Trade Organization to be held at the College of The Bahamas December 6. Pictured: Financial Services Minister Ryan Pinder (centre), Bahamas Trade Commission chairman Philip Galanis (right) and East Nassau Rotoract president Jamie Lewis will join the WTO discussion panel December 6, at the College of The Bahamas. (BIS Photo/Letisha Henderson)

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