Deal hunters in the UK have an incentive to hunt the cheapest deals on the island resort resort of Nassau.
The resort of Palm Beach, in the British Virgin Islands, is one of the most expensive places to find bargains on the planet.
“It’s a great place to spend your holiday and it’s great for business,” said local travel agent Stephen Daley.
“If you’re lucky enough to find a bargain you’re not spending your entire vacation there.”
The resort is a popular vacation spot for Brits because of the wealth of holiday accommodation and beaches it offers, with the resort’s proximity to the popular holiday destinations of St James and St Tropez making it an ideal place to hunt for bargains.
“I’ve seen deals in Palm Beach being worth more than anywhere else in the world,” said Mr Daley, who has worked in the Caribbean for nearly 15 years.
“This place is absolutely worth the money you’re going to spend there.”
One of the best bargains Mr Dales’ company found on Palm Beach was on the most exclusive beachfront property, with deals of $1.8 million for a 4,000-square-foot house, $1 million for two-car garage and a 5,000 sq-ft. home.
“You’ll be paying $1,000 a night here for the whole beachfront area, including a 5-minute drive,” Mr Daly said.
“We’ve seen houses going for $3 million in the market, which is more than you’d pay for a house on the beach.”
Mr Dale said it was a good deal for a holiday spot because of its proximity to St James International Airport.
“One of the reasons Palm Beach is such a good spot for a bargain is because it’s right by St James, which means you can fly there on a Saturday night,” he said.
‘Good value’ “There’s always been a bit of competition in the luxury market with a lot of other resorts out there, but it’s not a big one.
You’re always going to have the luxury factor,” he added.
Mr DALE said the beachfront was a great location for bargain hunters, with many properties in the resort offering excellent deals for the right price.
“Palm Beach is an amazing beachfront and you’re probably going to find the best deals you’re likely to find,” he explained.
“The house at the bottom is worth $1m and there are lots of great bargains out there.”
For locals, there are also a number of properties that offer bargain hunters the chance to get a deal on their next vacation.
“There are some great deals that you’re looking at here,” Mr Lefkowitz said.
There are a number properties on Palm in the bargain hunt area, with a number coming in at the $1-million mark, which are worth up to $2.3 million.
“A lot of people are finding these properties for less than $1M, so you’re definitely going to be getting something for the price of a home on the Beach,” Mr Ritchie said.
He said the area was a popular destination for locals who wanted to have a go at finding bargains in a resort where most of the properties were for sale.
“When you see these deals, it’s definitely worth a trip,” Mr Yancey said.
The best deals at Palm Beach are in the top-selling hotels on the resort.
The cheapest deals include a 2,000sq-ft home at the Hilton and a $3.3-million house at The Waldorf Astoria, for $2 million.
The luxury beachfront properties also come in for bargain hunting, with properties going for as little as $1 for a 5th-floor bungalow at the Hotel Oasis, for a little over $2m.
“As you can see, it is very expensive for these properties, so if you’re in the $5-to-$10 million range, this is definitely a good opportunity to have one of these homes and get some cash,” Mr Sorenson said.
While there are a few properties that come in at $2-million, Mr Raine said the best price for a home would be $1 and that some of the houses on the property would be worth more.
“For the most part, we’re seeing a great deal for the homes in the 5th floor, which has the most bargains,” Mr Tait said.