Buyer's Guide
Paradise and a Good Investment
Only half an hour away from Florida, traveling to Grand Bahama is fast and easy. There are regular flights to and from such US cities as Atlanta, Baltimore, Charlotte, Fort Lauderdale, Miami, New York and Pittsburg. For those who prefer the scenic route, there’s also a daily ferry service to Fort Lauderdale.
This convenient access – plus, of course, the island’s myriad attractions – has made Grand Bahama a favorite port of call for tourists as well as those wanting to invest in a second home. Some have even moved here permanently, drawn by the marvelous beaches, sub-tropical climate and world-class amenities.
A Grand Bahama home isn’t just a wonderful place to live in; it’s also a good investment. Grand Bahama real estate experts predict that home values on the island aren’t going anywhere but up. Price appreciation is practically guaranteed. This and the added benefit of a tax-free environment make a Grand Bahama home one very attractive package indeed.
Despite all the attention and interest that it has been gaining, however, Grand Bahama Island retains its tranquil, “hidden beach” atmosphere. Unlike the more populous New Providence Island (where the country’s capital, Nassau, is located) there are still places here where you can really get away from it all. There are even Grand Bahama homes in exclusive communities with their own private stretches of beach. If you prefer meeting new people, however, then there are also homes near public beaches.
Grand Bahama Settlements and Cities
There are over 20 native settlements and cities outside the GBPA area between the East and West End of Grand Bahama Island. Though most of the major developments are concentrated in the Freeport/Lucaya area, the less-trafficked parts of the island are still worth seeing.
Freeport is the town experiencing the most growth these days, however – not surprising since it was built for progress. American investor Wallace Groves spearheaded improvements to the once-sleepy seaside community more than 50 years ago, and despite experiencing an ebb in its fortunes during the 1980s, Freeport has continued to grow. Aside from being home to the Container Port and the International Airport, the town is also the location of a Venezuelan-owned oil bunkering facility.
Although Freeport is certainly Grand Bahama’s major city in terms of infrastructure and industry, the capital is, in fact, West End. The island’s westernmost settlement, it is also its oldest and was once famous as a smuggling center for liquor (during the Prohibition) and as the site of the Jack Tar club and marina. The town is experiencing its own renaissance these days, with its marina being renovated – it’s now called Old Bahama Bay – and new canals being constructed. Some of the most luxurious Grand Bahama homes are being constructed in this area, as well as condos and restaurants.
Ginn Resorts, one of North America’s top resort development and management firms, has taken over the Old Bahama Bay Resort & Yacht Harbour, which consists of 142 acres and various amenities including a 63 slip marina. On a site adjacent to this, Ginn Resorts is also developing a 2,000 acre resort community that has been named Ginn Sur Mer. The development will feature its own private airport, casino, beach club, spa, clubhouses, water and swim pavilions, two marinas, Jack Nicklaus and Arnold Palmer signature courses, almost 2,000 single family residential sites and over 4,400 condominium and hotel units.
Eight Mile Rock is the first largest settlement on the island and in the entire Bahamas. It has eight miles of rock shoreline (hence the name). A string of connected villages is Pinder’s Point, a peaceful community which lies just outside Freeport/Lucaya.
The Basics on Grand Bahama
Of course, it isn’t just the house itself or the climate (meteorological or fiscal) that homebuyers consider when investing in a property. If you’re worried that Grand Bahama has services as pure (read: primitive) as its waters, set yourself at ease. You can find most of the things you’ll need on the island, from peanuts to caviar.
You don’t have to fish for your supper. There are three fully equipped and fully modernized grocery stores on Grand Bahama, as well as a host of local markets. There are two grocers that sell fluid items wholesale, as well as a gourmet food shop and deli. The major stores are open all week from 7 a.m. to 9 p.m., except on Sundays when they’re only open from 7 a.m. to 10 a.m., as most Bahamians are regular churchgoers.
Going into shops one by one isn’t quite as convenient as, say, going to Wal-Mart, but it’s certainly a lot of fun. On Grand Bahama, even grocery shopping is an activity to be savored, not just something that has to be gotten over with.
Grand Bahama condos offer the same amenities as their counterparts in the US, including proximity to all the conveniences. If you don’t want to make your own supper, there are numerous restaurants to choose from, most of which offer savory Caribbean fusion cuisine and cuisine from all over the world. There’s also regular running water, up-to-date communication services (which includes broadband internet), and a number of shopping malls.