For those that can afford it, Bora Bora real estate is the pinnacle of wealth. There are a few properties for sale in Bora Bora as long as your willing to put in the time, as the real estate process in French Polynesia is quite difficult. The reward for such efforts would be to own a piece of the most beautiful island in the world.
Note that property for businesses, such as hotels and bed and breakfasts are a little easier to process because it will help the local economy by providing jobs. Bora Bora beach properties that do no create jobs have more difficulties nagivating the entitlement process.
In order to own Bora Bora real estate each foreign investment requires an authorization permit (issued by a “notary”) from the government of French Polynesia. In most cases, the government is more likely to approve an investment if the project is business related and creates good employment possibilities for locals.
The most obvious example of this is for a large hotel or resort. Smaller projects and private investments undergo a much more intense scrutinization process due to the fact that most of them will never create jobs or add to the local economy. These projects are notoriously difficult to obtain the necessary authorization permits, as it often seems each project is based on a different set of criteria.
Often times, Polynesian land divisions are hard to clear due to the fact that there are many owners for a small parcel of land. In order to clear a property for sale, all owners must give their permission and many times this is a near impossible feat. In addition, Polynesians families are very attached to the land of their ancesters for cultural reasons, (understandably) and many times have no interest in selling in the first place.
All communication with the proper government officials associated with the real estate authorization permit process is conducted in French. Those who don’t have a fluent understanding of the language are surely recommended to utilize the services of a translator.
Quick Tip – The Four Seasons hotel is offering 15 execlusive private residences for sale in Bora Bora. This may be an easier way to acquire real estate in Bora Bora.
Quick Tip – Do your research on finding a local brokerage company to work with. Owning property in Bora Bora is very complex and you’ll want to work with a reputable real estate agency.