Eleuthera real estate is different from real estate in Bahamian locations like Nassau, Freeport, Abaco and the Exumas. The latter have generally high priced real estate.
But Eleuthera still offers fantastic property at reasonable prices. Reasonable? Well, in 2005 prices started rising sharply. In 2007 they peaked out, then dropped considerably. In the second half of 2009 they stabilized and in 2011 fell again.
Compared to Nassau, Freeport, Abaco and the Exumas, and in comparison with real estate in the Caribbean in general, land prices on Eleuthera are still reasonable.
To give you a general idea, here is a north-to-south view of the main areas of interest if you are a potential second-home owner. However...
There is a way to own a moderately priced condo on this island without going through all the hassles most foreign homeowners - ourselves included - had to go through.
In Central Eleuthera - near the small airport of Governor's Harbour (code GHB) - construction of the new condos at Buttonwood Reserve has started in mid 2012. Read this interesting interview with the Buttonwood owner.
Eleuthera real estate prices are highest on Harbour Island just off the East coast of Northern Eleuthera.
Prices are lower from the North Eleuthera airport (ELH) down to James Cistern. Here's a good example of an actual offer. A 19 acre water front lot for sale near Gregory Town on the upper left side of Eleuthera.
Have you noticed that there are three international airports on Eleuthera? They are - from north to south - North Eleuthera, Governor's Harbour and Rock Sound.
Prices for Eleuthera real estate range higher from a few miles north of Governor's Harbour airport down to Windermere Island. See Windermere in pink on the map's right side? The area between Governor's Harbour and Windermere Island is called Central Eleuthera.
Real estate prices south of Windermere are lower again. There are a few exceptions, though. Winding Bay, to the right side of Tarpum Bay, is more expensive.
Apart from these three exceptions one can say that in the southern part, approximately from Tarpum Bay down to the very south, prices are lowest.
The coastline on the right side of Eleuthera is the Atlantic side. It has the most breeze which is very pleasant in the Summer. This side also has the nicest pink sand beaches. The British colonialists preferred that side.
The left side of Eleuthera is called the Caribbean side. But it actually looks out on Exuma Sound, which geographically is part of the Atlantic.
Whatever... Locals call it "the Caribbean side". Most but not all of that shore is rocky. You can view awe-inspiring sunsets from this side of the island.
a "must-have" source of information for anyone intending to buy or sell Eleuthera real estate. 600+ pages and many photos. The Bahamas Handbook is updated and re-issued annually.
Some of its articles are a bit overdone and sometimes outdated, but the blue pages sections with all the administrative details for buying and selling property are quite accurate. Click here to see the Bahamas Handbook.
Under Property Tax and Property Transactions in those blue pages, you will find all the details about taxes, legal fees and sales commissions.
Here is an e-book you may find particularly useful. It's more concise and certainly easier to navigate than The Bahamas Handbook. It's title?...
How to Buy and Sell Real Estate in the Bahamas. Read my review of that step-by-step e-book by clicking the link above.
Brad, a builder and sailor, and Amy, an urban planner, toured the Caribbean for many years before deciding to buy Eleuthera real estate. Click to read why they found Eleuthera to be the best Caribbean island for them.
What is the most important tip if you consider buying Eleuthera real estate for wintering in Eleuthera?
Rent a home and start talking to home owners. To give you a first impression, I did two interviews with second home owners. They tell you what's important...