Eleuthera Real Estate...
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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.
But...
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 Eleutheran homeowners - ourselves included - had to go through...
In Central Eleuthera - near an international airport - the new condos at Buttonwood Reserve will be built after 2011. Read this interesting interview with the Buttonwood owner.
General Price Structure
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.
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.
South of Rock Sound there are two other exceptions. The resort Cotton Bay (on hold) and Cape Eleuthera. Both are quite pricey.
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 Two Sides of Eleuthera
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. Here is an example of a home for sale together with a rental cottage on the Atlantic 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.
The Bahamas Handbook Is...
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.
An Especially Interesting Book
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.
Why & How A Canadian Couple
Selected Eleuthera
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.
Building Your Own Island Home?
And here's an interview with a competent Eleuthera builder plus references from two US citizens for whom he built houses on Eleuthera.Important Tips
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... Canadians Pierre and GiGi of the Rainbow area and John from the U.S.
- It is essential that you do your land or home purchasing with a reputable attorney. Contact him/her before you sign or commit to anything. We have received highly competent and prompt service from Mrs. Debi Williams, Nassau attorney.
Believe me, it's not easy to find a trustworthy attorney in Nassau who will respond to e-mail by return.
- You probably read my #1 explorer tip...
The best Eleuthera map available. Click here to see it.
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How to find the right Real Estate in the Caribbean...
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