Why Invest at Unicorn Cay
Unicorn Cay Development offers an unique opportunity to invest and own a vacation home in Eleuthera an island considered a “hidden gem” in the Caribbean by the New York Times.
Here’s how the Optional Rental Program works:
- The program operates as a not-for-profit service on behalf of the home owner. The HOA ensures professional oversight of marketing, bookings, and property management.
- For marketing and guest bookings, we will use the popular sites of Homeaway and VRBO and are paid a 10% commission on all bookings.
- For Guest Services, we have a property manager, to ensure a high quality guest experience and oversee housekeeping upon guest checkout.
- 100% of the net proceeds from rentals will be given to the home owner.
The Unicorn Cay Design and Development has been renting homes in Eleuthera since 2011. There rating on Homeaway are “Excellent” with only the top 5 stars possible. Comparable homes on Eleuthera are grossing $500 to $1000 per night.
The potential for long term appreciation in Eleuthera is based on a multitude of factors:
- The island has all the necessary infrastructure for an enjoyable vacation spot including good roads, cell phone coverage, high-speed internet, some excellent restaurants, nightspots, and little resorts, all the necessary stores and services, and plenty of flights every day
- Proximity to the U.S. (just 200 miles from Miami) and 50 miles east of Nassau makes Eleuthera attractive to Americans trying to get away from crowded and overpriced beaches.
- Beginning about 10 years ago the travel industry began to notice Eleuthera again. Travel and Leisure, for example, noted that Eleuthera, “once renowned for its picture-perfect white and pink sands somehow dropped off the traveler’s map,” and described some of the early steps in the island’s rebound, which had already begun. Around the same time, The New York times called Eleuthera “an untold hidden gem.” Major hotel companies also began to plan development projects.
- Since that time, Eleuthera’s reputation and visibility has continued to grow. One tangible indicator of the most recent trends: inquiries and rental bookings through Eleuthera Vacation Rentals continue to grow rapidly.
Second, prospects for continued development on the island are strong – but not so intense as to destroy the charm that makes it such an appealing destination. In recent years, a half dozen significant resort and hotel development projects have been completed, begun, or announced, including some major luxury brands names such as the Four Seasons, Echantment Group, and Marriott.
Third, the performance of the nearby real estate market in Miami could point to some nice cyclical gains in the next few years. Bahamas real estate market typically lags Miami by a year or two, and the Miami market is very strong.
Fourth, the Bahamas government is stable, the legal system is sound, and property rights are protected.
Fifth, Bahamian currency is pegged to the US dollar, eliminating currency risk.
Finally, current prices are attractive relative to comparable properties elsewhere in the Caribbean and the US.e
The building process for the 2 bedroom beachfront home with the option of a third bedroom guesthouse/casita will start Sept. 2017. Committing early to the purchase will allow the home to be customized to your needs and desires in the interior and exterior.