Home rental prices since the introduction of the Welcome Stamp have raised the eyebrows of locals, but real estate officials believe the market is showing a reduction in rental rates.
Real estate attorney Lily Dash said rates were not rising and there were, in fact, a large number of affordable properties available.
“We have a lot of landlords suffering, especially those with tourism-related products. There’s a difference between properties locals rent, unfurnished long-term properties and the ones for tourists, who may be willing to pay rates comparable to a hotel.
“There is still a lot of availability, though, especially in the lower price range. The local market is predominantly unfurnished, priced around BDS$1 500 a month, and you can go on Airbnb and find an enormous amount of availability. (CA)
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