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Real estate sales show two-tiered market continues


Tribune Business Editor

Real estate sales data for the 2019 first half continues to show a two-tiered market, as the lower and middle class segment continues to struggle while the upper end surges.

An analysis of Multiple Listing System (MLS) data by real estate firm, Engel & Volckers (Bahamas), said access to mortgage financing and the ability of borrowers to meet more stringent lender demands would continue to dictate the strength of the market for New Providence properties priced between $100,000 to $500,000.

This is the segment dominated by the Bahamian lower and middle class, and Engel & Volckers said: “Lending will continue to be the main factor determining how well this market performs.

Sky chief asks regulators: Do you want us to close?


Tribune Business Editor

Sky Bahamas' principal last night challenged aviation regulators to clarify whether they want "to shut us down" as the airline "could be at the point of not coming back".

Captain Randy Butler told Tribune Business that legal action was among the options he is considering after the carrier remained grounded for a 16th day following Bahamas Civil Aviation Authority (BCAA) orders that it not fly given that a key permit has expired.

And he called on Dionisio D'Aguilar, minister of tourism and aviation, and the Prime Minister, to intervene given that another Bahamian-owned company and its 63 employees were now perilously close to going out of business.

Captain Butler argued that there was "no reason why we should not have a renewed Air Operator Certificate (AOC)", which is the permit required for an airline to carry fare-paying passengers. The previous certificate expired on June 29, and the sector regulator sent Sky Bahamas a letter on July 8 warning that it should not continue flying without the AOC.

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