 Lanelle
M. Phillips-Cole
District Manager
HG Christie Real Estate
Canal-front has always been popular for
investors, however, we are seeing prices rise at a such an
incredible rate it is hard to convince some of my clients
the value in a lot that was 25% less last year. Many people
refuse to pay the current prices. The problem with this reasoning
is that the lots are not going to go back down to prices
of recent years, but they are going to increase year after
year making it more and more difficult for most to acquire.
 The
affordable investments are the lots no one wants quite yet.
Pick a prime area such as Fortune Bay or subdivisions on
the Grand Lucayan Waterway such as Pearl Bay or Cannon Bay,
and look for the canal lots that have below average canal-frontage
in relationship to neighboring lots.
For instance, if a lot in Pearl Bay averages
one acre and two hundred feet of canal-frontage then find
an acre lot with only sixty-five feet of frontage, and invest
in that lot. The prices are more affordable and often less
than half the price of the neighboring lot of standard size.
People may not want them now, however, in 10 years when there
is heavy development and few re-sales on vacant land, the
availability of any canal property in a prime area will be
valuable.
Another option is purchasing canal properties
in less desired areas such as Dover Sound, where prices still
remain around only $20,000 to $30,000 per lot.
When speaking of real estate and value,
that which surrounds vacant and improved property greatly
affects its worth. Continued multi-faceted development has
produced a powerful economy here and without a doubt, Freeport
will remain a stable venue for investment.
There are still opportunities for all investors
big or small throughout Grand Bahama and information and
research will always be the best foundation for selecting
properties as an investment.
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