Freeport, Bahamas

Freeport, capital of Grand Bahama Island, is hard to beat for things to do, with its hotels, golf courses, and beaches near the town that are superbly equipped to deliver just about every kind of water sport imaginable. Along with diving, windsurfing, parasailing, and other activities, here you can also swim with dolphins.

If you want to spend your time on other pursuits, there is also a casino, duty-free shopping at both the International Bazaar and the Port Lucaya Marketplace, and the eating possibilities in town are limited only to your stomach. If you get bored in Freeport, it is probably because you want to be.

But that is not to say you can't relax in Freeport. There are so many isolated beaches that you can easily wander away from the crowd for peace and quiet, or you can take a stroll in Parrot Jungle's Garden of the Groves, Freeport's botanical garden.

Grand Bahama Island has taken advantage of its duty-free status. Far from being a center for cheap and shoddy goods, its shops sell brand names at good prices. Whether you prefer classic, trendy, luxurious or prestigious, you’ll find a good selection.

Real Estate Info

Investing in real estate in the Bahamas has never been easier. Under the International Persons Landholding Act, approval is granted automatically for non-Bahamians to purchase residential property of less than five acres on any single island in The Bahamas, except where the property constitutes over fifty per cent of the land area of a cay (small island) or involves ownership of an airport or marina.

The new law also provides for a two-year real property tax exemption for foreign persons acquiring undeveloped land in The Bahamas for development purposes, provided that substantial development occurs during those two years.

Most of the growth in Grand Bahama in recent years has naturally been concentrated along the coastal areas. The Grand Bahama Development Co. (half of which has been acquired by Hutchison Port Properties) has projects that include the construction of new casinos and luxury resorts on Lucayan Beach that could give Nassau’s Paradise Island a run for its money. Residential communities are likewise being developed in and around the area, most of which are similarly geared towards exclusivity. Whether commercial or residential, it’s clear that Grand Bahama Island real estate is some of the hottest property today.

Vacant Freeport land for sale can be found along the beach or on the beach itself; inland; near golf courses; and on the canal. As this list clearly shows, there’s still undeveloped Freeport land to be had. The lots are selling pretty quickly, however, so if you’re interested in investing in Freeport land, then you had better start putting your plans into motion.

Freeport real estate as a whole is poised to be the next hot property, and this time it looks like the boom isn’t going to go bust – and even if the market does fluctuate, real estate has proven time and again to be a good investment choice.

There are some things a foreign national has to know before purchasing Freeport land for sale or any other form of real estate, however. Like any country, the Bahamas has rules on foreign ownership, though it certainly has a lot less laws on it than most others.

There are no restrictions on foreign ownership in the Bahamas, since the government wants to attract foreign investors. If you’re buying a permanent home, then you have to qualify for permanent residence (without the right to work). If the home you’re purchasing is valued at more than $500,000, then you won’t find it hard to get an approval. (As a whole, however, it’s quite easy so long as you are a person of good character – that is, no criminal records, etc.) Also, take note that though there is no property tax in Freeport, the government will levy a one-time stamp duty for every real estate transaction. This stamp duty is generally split equally between the buyer and the seller.