There are two main types of building lots for sale in the Bahamas: those that are on islands where real estate is already very expensive, and those that are on islands with smaller populations but big growth potential. A building lot on Nassau would make a great investment for a buyer who could afford a higher purchase price. Building lots on Long Island, Bahamas, however, would be more appealing for the modest investor looking for an ideal location for a vacation or retirement home.
There are quite a few tax incentives in the Bahamas, many of which are geared towards new real estate owners in particular. For instance: there is no real property tax in the Bahamas for new construction for up to 10 years. That means that buyers can purchase and build on undeveloped land without incurring the extra cost of yearly property taxes. Purchasing Bahamas building lots is even more appealing in a location like Long Island, where construction is one of the main industries on the island.
Finding the Right Bahamas Building Lots
An online Bahamas realtor can help anyone find the perfect building lot to meet his or her investment needs. For some, Long Island offers the perfect balance between remote desert isle and tourist hot spot. Its roughly 4,000 residents are spread out along the island in quiet settlements, yet it is also the home of the annual Long Island Sailing Regatta. Building lots are still quite affordable on Long Island--even parcels that are right on the beach.
In a city like Los Angeles, undeveloped beach property is still extremely expensive (as are construction costs). But in the Bahamas, building a vacation home or a place in which to retire is still reasonably affordable. On smaller islands like Long Island where local construction materials and workers can be hired for a fair price, purchasing undeveloped land right on the beach is a very sound investment.
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