Its Better in the Bahamas

Having spend a few days in Paradise Island, in the Bahamas, it seems the economy is not a problem everywhere.

In the Marina by the Atlantis hotel, there are no less than 20 mega yachts docked (yachts over 100 Ft).

Actually there is only one vacant space in the whole complex for such a yacht, so if your interested better get over there soon.

Down the road in the Ocean Club estates, the only houses on the market a few on the beach priced from 11 Million to 14 Million.

A lot on the water is priced at $7 Million.

Golf course homes are priced at $5 Million plus.

Only a few are available.

Nothing in foreclosure.

Nothing in pre-foreclosure.

Next door at the new Ocean Club Condos, several resale units are available from $2.9 million to 7 million (sold out pre-construction). If you want a dock space with your condo those are going for $10K a foot. For those bad in math that is $500K for a 50 ft boat and a cool million for a 100 ft. yacht.

The Ocean Club Hotel is sold out with rates from $1,300 to $2,600 a night, not counting the villas priced at $5K to $8K a night (also sold out).

Over the weekend their was a wine auction held in London.

A Beijing billionaire spend a record $500,000 on 27 bottles of red wine.

“It is the highest price that has ever been achieved for a single lot,” Managing Director Stephen Williams of the Antique Wine Company told Reuters on Saturday. “I don’t think he has bought this as an investment he has bought it to drink,” he added. “The fine wine industry is completely immune from the global credit crunch.”

Yes the economy is better in the Bahamas and in the fine wine industry.

We will see how the domain industry is doing this week at the Domain Round Table’s auction.