Lyford Cay - the Caribbean’s most prestigious community
For more than fifty years, world leaders, aristocrats, business magnates, billionaires, and celebrities have flocked to Lyford Cay, a gated enclave on the western coast of New Providence Island in the Bahamas, for its reputation as one of the Caribbean's most exclusive and aristocratic enclaves. The vibe of Lyford Cay is very British colonial, with a touch of Palm Beach's sophistication from the 1960s and 1970s.
Lyford Cay is tucked away from the main tourist attractions of Nassau and Paradise Island, giving it a strong sense of privacy despite its location on one of the most popular destination islands in the Caribbean. Located on 1,000 gated acres, Lyford Cay is home to approximately 300 high-end residences that are centred on a clubhouse so exclusive that not even residents are guaranteed admission.
There is also a private school, a yacht club and marina, a variety of water activities, a private beach, and a wide variety of world-class dining options.
In addition to being the oldest resort in the Bahamas, Lyford Cay is also the country's first master-planned community. King George III granted Captain William Lyford Jr. the land in 1788 through a Royal Decree, hence the name. In 1954, Bahamian entrepreneur Sir Harold Christie sold the 2,800-acre plot of property to Canadian industrialist E. P. Taylor, marking the beginning of the island's modern history. Taylor's vision was put into action thanks to his background as an engineer and a successful developer.
Given the high demand and limited supply, serious buyers will need deep pockets to enter the Lyford Cay real estate market.
“Lyford Cay is a unique and prestigious community that is known and admired internationally”, according to George Damianos, President and Managing Broker of Damianos Sotheby’s International Realty and Lyford Cay Sotheby’s International Realty – one of the top agents in the whole country.
He goes on to say that “given its desirability and relatively small size, there is always a steady demand for property – as such, market activity is most often driven by the available inventory. The Lyford Cay property market is extremely stable – there is not much price fluctuation. It is an established community that experiences slow and steady appreciation and tends to weather the storm of economic downturns”.
Mr. Taylor, the developer, marketed his properties in Lyford Cay to affluent Canadians so that they might construct winter homes there. In the colder months, wealthy families from North America, South America, and Europe would flock to the community and Club to escape the cold. With its recent growth, Lyford Cay presently has 465 entrances, of which over 60% are apartment units. Only about a third of the homes here are lived in all 12 months of the year; the rest are seasonal rentals.
The prices of the apartments are between $1,000,000 to $6,000,000. The price of a single-family home on the golf course can be anywhere from $2 million to $20 million, while those on the canal or the beach can cost anywhere from $5 million to $80 million.
Images in this story features a magnificent canal front property in Lyford Cay is on the market through Damianos Sotheby’s International Realty, for $19,850,000. Surrounded by landscaped gardens, it boasts 12,000 sq ft. of interior space across its Main House and Carriage House, as well as an extensive dockage.
