Low cost lots, two-year concessionary rates, form basis of ‘ambitious’ new housing programme

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Prime Minister, Dr. the Hon. Hubert Minnis during his National Address, January 29, 2018. (Photo/Yontalay Bowe, OPM Media Services)

The Minnis Administration will introduce an “ambitious” housing programme in 2018 that will provide “extremely low-cost lots” to potential first-home owners in New Providence. The lots will be supplied with all of the necessary utilities. Potential homeowners will be responsible for constructing their own homes and will be able to either use their own architect for the design of their individual plans or use pre-existing plans offered by the Government of The Bahamas.

Potential homeowners will have two years to build their homes at duty-free concessionary rates. “Because the lots will be inexpensive, we expect scores of first-time homeowners to take advantage of this programme,” Prime Minister, Dr. the Hon. Hubert A. Minnis said Monday during his National Address. “Access to affordable housing is critical for social and economic development. We look forward to many Bahamians taking advantage of this significant opportunity for homeownership,” Prime Minister Minnis added.

The Prime Minister said the programme will be extended to the Family Islands: “Thus encouraging Family Island ownership, second home ownership and entrepreneurship development of bed and breakfast properties.”

 

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