Real Estate Blog

With Prices for ownership at The Reef being the lowest they have EVER been, the time is now to own The Reef at Atlantis…

With The Atlantis Resort reigning supreme for more that two dozen years as one of the worlds top vacation destinations it's no wonder there has been a steady stream of buyers expressing interest in the Reef Residences at Atlantis, a Condominium Hotel that soars 22 stories above your very own spectacular stretch of white sand beach adjoining Atlantis, one of the worlds most awe inspiring Resorts! The Reef debuted in December 2007 at the height of the Real Estate Boom with 495 Luxurious Junior, One Bedroom and Two Bedroom Designer Furnished Suites. Sales were brisk at the beginning with buyers paying approximately $2,000 per square foot for their condo of choice and the privilege of ownership. I personally sold over $20 million dollars of inventory including the most sort after Penthouse in the building...the Resort/Ocean side Penthouse for $7.6 million!

So, no one on the island is more familiar with The Reef than I am!

When the bottom fell out of the economy in late 2008, Real Estate sales world wide came to a grinding halt and sales at The Reef were no exception! However, as the world economy has come out of the Great Recession and the real estate market has slowly recovered, so have sales at The Reef. Particularly the re-sale market, with condos across the board selling for between 40% to 50% below initial selling prices…sometimes more!

One Bedroom Luxury Suites on the preferred Resort/Ocean side that sold for $US1.2 million pre the Great Recession are now selling for approximately $US700k. One Bedroom on the Island/Harbour side are selling for less than that $US650K. Junior Suites that sold for $US800K initially are now selling for 450K plus or minus on the re-sale market and the selection and position of available units is exceptional…better than the Developer has to offer!

Despite these incredibly reduced prices, owners at The Reef, regardless of whether you purchased your Condo at the height of the market through the developer, or on the resale market at a ‘Steal of a Deal’ are all afforded the same Spectacular benefits and amenities that Atlantis offers!

Each Condo/Suite comes fully furnished with fine linens and tableware, crown moulding throughout, granite counter tops, imported kitchen cabinetry and stainless steel appliances, luxurious bathrooms and LCD flat Screen TV's!

• The Residences at Atlantis (The Reef) also include:

• A private Owners Transit lounge with a fully staffed Owner Services Department

• Your very own Starbucks in the Reef Lobby

• Discounted airport transportation

• Curbside check in upon arrival so you avoid check in lines and go directly to your luxury suite

• Grocery shopping service (fee involved) so your suite is stocked upon your arrival

• Hassle Free Resort wide Wi-Fi

• Access to the Cain Pool an adult only Ultra Pool and Beach at The Cove

• Mandara Spa Discounts and much, much more…

In addition to owning and enjoying all the amazing amenities at the Reef owners can also enjoy all of the Spectacular offerings that Atlantis has to offer including dozens of World Class dining options including, but not limited to Bobby Flay's Mesa Grill, Nobu Matsuhisa's incredible sushi restaurant, Todd English's Olives Grill and many more exquisite dining options. Also on offer to Owners and their guests are the Caribbean's largest and most exciting Casino, dozens of high end designer boutiques, the Mandara Spa, a world class fitness and sports center and a full service luxury yacht marina and not to be forgotten….AQUAVENTURE, a 63 acre water park featuring both a relaxing "lazy river" and the Thrilling Mayan Temple that houses 4 heart pounding slides and rides! Dolphin Cay, a purpose built 14 acre, 7 million gallon facility offers owners and guest an opportunity to swim and interact with Atlantic Bottle Nose Dolphins and Sea Lions!

The most exciting feature of The Reef Condo/Hotel is that when owners are not in residence during their 90 day allowance, the condo automatically rolls into the Atlantis managed Rental program thereby generating income to off set running cost associated with ownership! Once in the rental pool owners are exempt from local Annual Property Tax! Ownership at The Reef can qualify owners to apply for Permanent Residence status in the Bahamas…an independent nation! The Reef Residences at Atlantis really does offer the Best of both worlds! Owners get to experience all the wonders of Atlantis while enjoying all the benefits and privileges of ownership at the Reef! So, the time is now! A great product at a great price! Come and take a look now and enjoy the best of what The Reef, Atlantis and Paradise Island have to offer!