Quit complaining and head to the Family Islands
Published: Aug 15, 2013
There is often the complaint that beachfront property, particularly in Nassau, is out of reach for the average Bahamian. That is to say, as can be seen, that many of the prime pieces of real estate property have been purchased by non-Bahamians.
The sad reality is most of us do not have the financial means to buy waterfront property in New Providence, and the government is hesitant to enter this fray by putting restrictions on non-Bahamians from purchasing property in The Bahamas, as this direct foreign investment helps to fuel our economy.
But we cannot blame the government alone for lack of vision. We must share in some of that blame. For instance, some of our ancestors opted to sell acres and acres of prime real estate for a fraction of what it was worth - only now for it to be resold for millions.
The reality is no matter how much we complain about how all of the beachfront property is being sold and bought by non-Bahamians, it will not bring us any closer to owning one of those pieces of property.
There is only so much that government can do. Truth be told some of us blew the chance to purchase beachfront property in New Providence when it was being sold at reasonable prices, while others simply did not have the means to do so at that time, but now they do.
All is not lost; it just means persons looking for beachfront property now need to turn their sights to the Family Islands. I will admit some areas in the Family Islands will have properties valuing in the millions, particularly when it comes to beachfront views, but there are still many available plots that are not as expensive and in reach of those with disposable income.
So we have an opportunity to make this right for our children and grandchildren by leaving an inheritance with the purchase of land in the Family islands.
I have travelled to several Family Islands in the last few weeks and found that Andros and Eleuthera offer beautiful beaches and hilltop views overlooking pristine waters.
Okay, so you can’t purchase that waterfront property or that beautiful lot overlooking the ocean in New Providence, but it’s a good possibility that you can do it with little trouble in any of our Islands. We just need to wake up, stop complaining about the foreigners buying up all the prime land and leaving you out in the cold. As the old adage says, ‘make your own sunshine’.
Why is it that the non-Bahamian can see the beauty and the vision of buying land in the Family Islands, while we sit back and watch it happen and not do the same thing?
Friends it’s time we get on the bandwagon and go in search of that hill top or beachfront lot that can be easily found in most of our beautiful islands.
Andros, Cat Island, Long Island, Eleuthera, Abaco, Grand Bahama, San Salvador and Inagua are calling, just do it before it’s too late!
• William Wong is president of Wong and Associates Realty. He was also a two-term president of the Bahamas Chamber of Commerce and the Bahamas Real Estate Association. Questions or comments can be emailed to William@wongsrealty.com.