business@tribunemedia.net
Tuesday, January 27, 2026
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Real estate ‘normalises’ as ‘buyer activity cools’ • Q4 listings jump ease THE Bahamian real after ‘fastestate market underwent “normalisation after several paced fast-paced quarters” during quarters’ the final three months of BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
2025 as “buyer activity cooled” while new home listings on New Providence and other islands increased by double-digits. Morley Realty, in its analysis of 2025 fourth quarter data from the Bahamas Real Estate Association’s
(BREA) Multiple Listing System (MLS), asserted that the market was showing “clearer signs of stabilisation” as the year drew to a close with a rise in new listings boosting
• New Providence inventory in double-digit growth
• Homes wait 77 days to sell; sellers get 93% of ask
available inventory for sale and helping to “balance improving supply with cautious demand”. David Morley, Morley Realty's owner/broker, could not be reached for
comment before press time but his firm’s just-released report showed that New Providence home sellers are still getting close to what they are asking with the list price-to-sale price
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ratio relatively flat at 93.3 percent compared to the 2025 third quarter and year-over-year. And, in a sign that properly-priced properties are still being snapped up relatively quickly by buyers, New Providence homes that sold during the final three months of 2025 spent only an average of 77 days on the market - a 24.5 percent declined compared to the same period in 2024, and a 9.4 percent drop when measured against the 2025 third quarter. “As 2025 came to a close, The Bahamas real estate market shifted into a more selective, strategy-driven environment across Nassau and Paradise Island, Abaco, Eleuthera, Exuma and Grand Bahama,” Morley Realty said. “Inventory generally increased in key markets, while buyer activity cooled compared to the third quarter - a healthy
$200m Exuma resort opponent hits planning permit ‘unfairness’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
SITE OF ROSEWOOD PROJECT
PHA chief warns: ‘Can’t pay overtime if dollars not here’ BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net THE Public HospitalsAuthority’s (PHA) managing director yesterday warned employees it is a case of when, not if, they will receive all DR AUBYNETTE due overtime pay ROLLE as she warned: “If the dollars are not here, I cannot pay it out.” Dr Aubynette Rolle, speaking to healthcare workers on a Zoom call, said she is “working to get the overtime dollars” but this will involve discussions with the Ministry of Finance about obtaining more taxpayer dollars after the Authority exhausted its allocated overtime budget during the first three months of the 2025-2026 Budget year. She signalled that the outcome of these talks is uncertain, adding that is yet to be determined “how” overtime for December - which she described as a “huge amount” - will be paid. This indicates that not all may be paid in PHA staff’s January pay cheques that are due this week. In a voice note obtained by Tribune Business, Dr Rolle said “there seems to be miscommunication and clarity does not seem to be in the room”. She added that at no time did she advise or write that persons who have worked authorised overtime would not be paid. Confirming that the overtime budget allocated for the 2025-2026 fiscal year has been exhausted, Dr Rolle said she has taken steps to address the matter.
SALARY - See Page B6
A KEY opponent of the $200m Rosewood Exuma project is threatening to initiate fresh legal action unless Bahamian planning authorities suspend next week’s site plan approval hearing over “procedural unfairness” and
failing to comply with legal requirements. Turtlegrass Resort and Island Club, and its attorneys, are demanding that the Department of Physical Planning and Town Planning Committee respond by today to “serious concerns regarding non-compliance” with statutory regulations governing public
PM warned: Freeport needs ‘particulars to sink teeth into’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Prime Minister must lay out “concrete plans” for the Grand Lucayan and Grand Bahama International Airport when he speaks to the island’s future today, with one private sector leader urging: “We need particulars we can sink our teeth into.”
Dillon Knowles, the Grand Bahama Chamber of Commerce’s president, told Tribune Business yesterday that Philip Davis KC cannot rely on more “promises” and “theoreticals” as he called on the Prime Minister to provide “clarity” for the island’s business community so that they can plan for their immediate and long-term futures with confidence.
Forty flights to Nassau hit by US snow storm BY ANNELIA NIXON and FAY SIMMONS Tribune Business Reporters LYNDEN Pindling International Airport’s (LPIA) operator yesterday confirmed that more than 20 flights into The Bahamas’ major aviation gateway have been cancelled due to Winter Storm Fern’s impact on air travel from major tourism source markets across the US. Jonathan Hanna, Nassau Airport Development Company’s (NAD) director of operations, said 21 flights had been cancelled and 19 delayed since Saturday due to the ongoing major ice and winter storm. “The winter storm Fern has been affecting a large portion of the United States, particularly along the eastern seaboard, where a number of our source markets are, which has resulted in a number of flight
cancellations and delays,” said Mr Hanna. “Since Saturday, we've had 21 cancellations, with the majority of those cancellations happening Sunday, and about 19 delays.” He added that airlines have not announced plans to add larger planes or extra flights to make up for the cancellations and delays, but that could change as the situation develops. “At this time, they have not indicated that they would be bringing any larger aircraft or bringing on any additional frequencies, but that is subject to change, and we continue to be in close dialogue with them at this time,” said Mr Hanna. He added that when there is extreme winter weather, such as ice or heavy snow, planes need to be de-iced before they can take off - a process that can lead to delays. “Typically, what happens with winter weather is there's a need for de-icing, and the operation slows down to ensure that safety is always paramount. And so we continue to work with our airline partners at this time,” Mr Hanna said. Winter Storm Fern has affected large parts of the US from the Gulf Coast through the mid-west and up
WINTER - See Page B6
ACTIVITY - See Page B4
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consultation for projects such as Rosewood Exuma. Callenders & Company, in a January 23, 2026, letter to Keenan Johnson, the Town Planning Committee’s chairman and other government officials, argued that insufficient documents and time have been provided to enable interested parties such as Turtlegrass, which will be Rosewood
Warning that Grand Bahama “doesn’t take promises well in the best of times”, he added that the island was in desperate need of a major investor or project to “plant the flagpole” and undertake a development that will attract more investment capital to both Freeport and outside the Port area. Voicing hope that both the resort and airport will “move us in a particular direction” if redevelopment work starts imminently, Mr Knowles reiterated that Freeport was master-planned as a city capable of hosting 250,000 persons but currently only has a
sign of normalisation after several fast-paced quarters…. “The takeaway from the fourth quarter is clear: This is a more balanced, opportunity-rich market — one that rewards smart pricing, strong presentation and informed guidance. Whether buying or selling, today’s conditions favour those who understand the nuances of each island and act with the right strategy.” New Providence was among the islands benefiting from an increased supply of new home inventory available for sale, according to Morley Realty’s analysis of MLS data, with new listings increasing by 15.6 percent compared to the 2024 fourth quarter and by 35.7 percent when measured against last year’s third quarter. New listings of vacant land in the
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Turtlegrass threatens new legal action on Yntegra project Cites ‘serious concerns over non-compliance’ by process Argues ‘materially defective’; wants regulator reply today
Exuma’s immediate adjacent neighbour, to offer considered analysis and feedback on the proposed
APPLICATION - See Page B5
population equal to one-fifth, or 20 percent, of this. With the Prime Minister poised to address Freeport and Grand Bahama’s prospects after today’s Cabinet meeting, the GB Chamber president said: “I guess what Grand Bahama is hoping to hear is any news, any good news, about the Grand Lucayan and the airport, and whatever is going to go down with the cruise port at the harbour; whatever form it is taking at this point in time. “That’s morphed a number of times. I don’t know who the exact players are at this
REVIVAL - See Page B4