Real Estate on Bonaire: Frequently Asked Questions and Answers

Buying a Home on Bonaire

Can anyone buy a home on Bonaire?

Yes. You can buy a home on Bonaire even if you are not a resident. What many people do not know is that banks outside Bonaire generally do not provide mortgages for properties on the island. The transfer of ownership always takes place through a civil-law notary, and the deed is registered with the Land Registry.

How do I buy a home on Bonaire?

Most buyers find a home through one of the real estate agencies on Bonaire and then schedule a viewing. Once the parties have reached an agreement, a purchase agreement is drawn up. Be aware that a verbal agreement can be legally binding on Bonaire. The statutory cooling-off period that applies to home purchases in the European Netherlands does not apply here.

Can I negotiate the asking price on Bonaire?

For existing homes on Bonaire, bidding above the asking price is not common and the asking price is often negotiable. New-build properties generally have fixed prices. Officially, the 8% ABB tax must be included in the sale price. As a buyer, it is important to check this so that you are not faced with unexpectedly higher purchase costs afterwards.

How much does a home on Bonaire cost?

The price of a home depends on its location, size and amenities. Of course, the familiar rule “location, location, location” also applies. Whether the property is on freehold or long lease land and which additional features it offers, such as a swimming pool or sea view, also affect its value.

What does a buyer’s agent do on Bonaire?

The listing agent is paid by the seller. If you are buying a home on Bonaire, a buyer’s agent can represent your interests as the buyer, assist you with viewings and negotiations, and guide you through the process until the transfer of ownership.

Can I get a mortgage for a property on Bonaire?

Whether you qualify for a mortgage depends on factors such as your age, income, financial stability and creditworthiness. Only banks established on Bonaire provide mortgages for properties on the island. In most cases, you will need to contribute part of the purchase price from your own funds. Non-residents may also qualify for a mortgage.

Can I buy a lot and build my own home on Bonaire?

Freehold land can be purchased. Undeveloped long lease land, however, may not be transferred. Before building a home on a vacant lot, a building permit must first be issued. An architect can assist you and handle the building permit application with the Public Entity Bonaire (OLB).

What should I look out for when buying real estate on Bonaire?

When buying an existing home, it is advisable to have a technical inspection carried out. This can be included in the purchase agreement as a resolutive condition. Such an inspection assesses the structural condition of the property and any visible defects. Visible indications of issues such as termites or asbestos-containing materials may also be reported.

Which currency is used for a property transfer?

The US dollar is the official currency on Bonaire, and most properties are also listed with an asking price in US Dollars. During negotiations, the parties may agree to complete the transaction in euros. In that case, Harbourtown Real Estate uses the Rabobank mid-market exchange rate on the day the verbal agreement was reached, provided both parties agree.

Selling a Home on Bonaire

How do I sell my home on Bonaire?

If you want to sell your home, you can ask a real estate agent to assess its value. Such a market valuation is usually free of charge. Once you have decided which real estate agent you want to work with, an agreement is generally entered into for a period of one year.

How much is my home on Bonaire worth?

The value of your home depends on several factors. A beachfront home, for example, will generally be worth more than a home without an ocean view in a residential neighborhood. The size of both the home and the lot also affects its value. You can opt for a free market valuation, in which case a real estate agent visits the property and advises you on its value. Alternatively, you can have a formal appraisal report prepared.

Can I have my home valued for free?

Yes. If you would like to know what your home is worth, you can make a no-obligation appointment with Harbourtown Real Estate. We will visit your property and give you an honest assessment of its value.

What does a real estate agent do when selling a home on Bonaire?

The listing agent assists you from the initial valuation through and beyond the transfer of ownership. We provide a professional presentation of your home, schedule and conduct viewings, assist you during negotiations and prepare the purchase agreement. The real estate agent also plays an important role in coordinating the process leading up to the transfer of ownership before the civil-law notary.

How much does a real estate agent charge to sell property on Bonaire?

Real estate agents generally charge a fixed percentage of the sales price. Standard costs for photography and marketing are usually included in this fee. At Harbourtown Real Estate, we work on a “no cure, no pay” basis. If we do not succeed in selling your property within the agreed contract period, you can end the agreement without additional costs.

What is the difference between a market valuation and an appraisal?

A market valuation is a verbal assessment accompanied by a brief written confirmation of the estimated value of your property. An appraisal is a more comprehensive report that includes the market value as well as the replacement value and forced-sale value.

Can I sell my home if I am not on Bonaire?

Absolutely. The real estate agent can handle the entire sales process on your behalf. For the transfer of ownership before the notary on Bonaire, you will need to sign a power of attorney before a notary near you, together with a legalized copy of your passport. We can also arrange vacant-property management or temporary rental during the sales period.

Renting and leasing out property

Can I rent out my home on Bonaire for a longer period?

Yes. In principle, you can rent out your home anywhere on Bonaire for periods longer than three months. Restrictions may apply in certain situations, for example at a resort where specific rules or agreements are in place. In general, however, long-term rental is permitted throughout Bonaire.

When is a rental considered a long-term rental?

In general, rentals of up to three months on Bonaire are considered vacation rentals. Harbourtown Real Estate specializes in mid-term and long-term residential rentals. We consider rentals starting at six months to be long-term, while mid-term rentals start at six weeks.

Can I rent out my property on Bonaire if I do not live on the island?

Yes. You do not need to be on the island yourself to rent out your property. There are several reliable companies that can manage this for you. They can also handle tenants’ initial questions and requests, so you do not have to deal with every issue yourself.

What is the difference between vacation rentals and long-term rentals on Bonaire?

With vacation rentals, most costs are usually included in the rental price, from water and electricity consumption to laundering bed linen. Guests also generally receive 24/7 assistance, often including transportation to and from the airport. With mid-term and long-term rentals, a tenant rents a furnished or unfurnished home for a period starting at six weeks. Costs such as electricity, water and internet are not always included in the rent.

Can Harbourtown Real Estate rent out my property?

Yes. If you want to rent out your property for a longer period, we can take care of this for you. In our Rental Service Agreement, we agree on the rental price, what is included in the rent and any personal preferences you may have. For example, if you do not want to allow pets or smoking inside the property, we record these requirements and look for the tenant who is the best match for your home.

What should I consider when renting out my property on Bonaire?

If you want to rent out your property, the first step is deciding which type of rental best suits your situation. It is also important to determine a realistic, market-based rental price. Finally, a good rental agreement is essential. If you rent out your property through Harbourtown Real Estate, we take these and many other important factors into account.

Taxes and appraisals

What is property tax on Bonaire?

Property tax (vastgoedbelasting) is the real estate tax that applies to non-residents and, for residents, to second homes. Residents pay land tax (grondbelasting) on their primary residence. The two taxes do not apply simultaneously to the same property; it is one or the other.

How is property tax on Bonaire determined?

The value of the property is determined by the Tax Administration (Belastingdienst) Caribbean Netherlands for a five-year period. The current period is 2026–2030, and the tax rate remains the same during this period. The first US$ 70,000 is exempt; the remaining value is taxed at 0.91%.

Can I object to my property tax assessment?

You can file an objection to the assessed value within two months after the Tax Administration has issued the property tax assessment. The objection can be submitted to the Tax Administration (Belastingdienst) Caribbean Netherlands.

How can I qualify for an exemption from property tax?

An exemption from property tax may be available for newly built and substantially renovated homes. To make use of this investment exemption, the owner must notify the Tax Administration (Belastingdienst) Caribbean Netherlands within the applicable time limit.

I am going to live in my new home, but I am paying property tax. How does that work?

On Bonaire, the person who owns the property on January 1 is liable for either property tax or land tax for the entire year. When a property is sold, this tax is apportioned between the parties based on the period of ownership. If the seller was a resident and the buyer uses the property as a second home, this works to the buyer’s advantage for that year. Conversely, if the seller was paying property tax and the buyer will use the property as a primary residence, this creates a one-time disadvantage for the buyer. A buyer must actively report the acquisition of real estate to the Caribbean Netherlands Tax Administration within four months of purchase.

When do I need an appraisal of my property?

An appraisal report is required for a mortgage application or a private sale. It is important to check which appraisal reports are accepted by the relevant bank. An appraisal report or statement of value may be required in the following situations:

# For a mortgage when purchasing or building a home;
# For a private sale handled by a notary;
# To file an objection against a decision by the Tax Administration (Belastingdienst CN);
# To determine the value of a property in the event of a divorce or inheritance;
# To determine the value for property insurance purposes.

Investing in real estate on Bonaire

Is buying real estate on Bonaire a good investment?

Real estate on Bonaire can be an attractive investment, both because of potential rental income and the possibility of long-term appreciation. Whether a property is a good investment depends on factors including the purchase price, location, rental opportunities, occupancy rate and fixed costs. On Bonaire, owners of vacation properties pay property tax and, in principle, are therefore not subject to income tax on rental income from the property.

What types of real estate are popular with investors on Bonaire?

Vacation homes with sea views and centrally located apartments remain popular. Many investors like owning a second home that they can use themselves while also having the option to rent it out. In that case, it is important to buy in an area where short-term rentals are permitted. It is also worth considering how much time and effort you want to spend on a property. Owning a private home can be very appealing, but it also comes with responsibilities such as maintaining the house and garden. An apartment in a well-managed homeowners’ association (HOA) that takes care of the common areas can therefore also be an attractive investment. Read more about investing in real estate on Bonaire.

Is a vacation home on Bonaire a good investment?

Owning a house or apartment can be an attractive investment. Real estate may appreciate over the longer term, although an increase in value is never guaranteed. The property may also generate rental income while you own it. Keep in mind that there are additional costs, such as fees charged by a property or rental management company.

What should I consider as a foreign investor when buying real estate on Bonaire?

Bonaire is a special municipality of the Netherlands, but it has its own tax system and legislation. The laws of the European Netherlands are similar to those of Bonaire in many respects, but there are important differences. A knowledgeable real estate agent or tax advisor can advise you on what these differences mean in your particular situation.

Can Harbourtown help me buy a home on Bonaire while I am abroad?

Absolutely. This happens quite often. Buyers cannot always be on the island when the right property becomes available. If you are abroad and find a suitable home, we can, for example, conduct a viewing with you via WhatsApp. Even negotiations can be handled remotely. Some buyers then choose to include an in-person viewing as a condition in the purchase agreement.

Is Harbourtown Real Estate a member of a professional real estate association?

Harbourtown Real Estate has been a member of the Bonaire Real Estate Association since its establishment in 2013. The Dutch NVM (Dutch Association of Real Estate Brokers and Real Estate Experts) is not active on Bonaire. Unfortunately, this also means there is no central website where you can find all properties listed by affiliated real estate agencies.

Can Harbourtown Real Estate help me with both buying and selling real estate?

Our agency specializes in the sale of real estate. We can also represent buyers as a buyer’s agent. Many buyers appreciate this because buying a home is not something you do every day. It can be reassuring to have someone who assists you and represents your interests as a buyer—not only during viewings, but also during negotiations and with the practical matters involved in purchasing a property.

If your question is not answered here or you would like personal advice about buying, selling, renting or leasing out real estate on Bonaire, feel free to contact our team. Harbourtown Real Estate will be happy to assist you with local expertise and personal guidance.

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