I’m hesitant to even write an article about buying in Eleuthera because in all honestly, I’m slightly protective about the current nature of our beautiful Out Islands. I love the way they are still relatively untouched (minus a few bouts with cruise ship corporations and chain resorts) with a laid-back island way about them. A lot of people reach out to me through the Out Island Life website that said they either have purchased land or are looking at building in Eleuthera, so I feel like there’s something rumbling in the undercurrent, and the last time I visited, there seemed to be such a vibrant feel to the island, with plenty of yellow license plates (self-drive rental cars) cruising around. Since Eleuthera is already beginning to get discovered, I thought I’d share a little about it.

Brief Overview

Eleuthera is 110 miles long running slightly northwest to southeast on the eastern side of the central Bahamas. On the east side of the island is the dark blue Atlantic Ocean, and on the west side is the shallow sandy bank side. The island averages less than a mile wide, so when you’re cruising down Queen’s Highway, the main road, you’re consistently catching glimpses of beautiful blue hues of the ocean.

North Eleuthera

In the north Gregory Town, a local’s settlement turned surfer town, has a funky vibe to it. Lenny Kravitz has opted to connect to his Bahamian roots and purchase a home in the area. He even wrote an island-inspired song on his hit album “Are You Gonna Go My Way” called Eleutheria (the proper spelling for the Greek word for freedom), and has been a promoting it in the recent years with the Bahamas Ministry of Tourism

Smaller communities of Alice Town at Hatchet Bay, Rainbow Bay and James Cistern have attracted visitors and homebuyers for their quiet demeanor. Formally an agriculture region, the area is again seeing an influx of boutique organic farms, and you’ll now see more options for fresh in-season produce at local grocery stores and restaurants. The North Eleuthera International Airport sees the heaviest air traffic on the island, servicing the neighboring islands of Harbour Island and Spanish Wells.

Central Eleuthera

Central Eleuthera’s main hub is Governor’s Harbour, one of the Bahamas’ oldest settlements, and the largest and “most developed” community on the island. By “most developed,” I don’t mean there are high rise condo developments and resorts. The homes maintain their 1700’s charm and the resorts blend right in with the natural surroundings. It has an unpretentious vibe to it, attracting more and more visitors to the area for its stunning beaches, restaurant and shopping offerings. Governor’s Harbour International Airport services the area, with flights from Nassau and a few flights per week from Ft. Lauderdale.

South Eleuthera

The most surprising area of development I noticed while I was exploring Eleuthera in May, was Tarpum Bay. This quiet fishing village has seemed to gain a small collection of expats who have purchased affordable ramshackle concrete block homes and fixed them up to beach-shack-chic, and are renting them out on Airbnb. On the main thoroughfare, there is now a coffee shop and a lively little bar, and there’s even an Instagram-worthy swingset and hammock duo just along the shoreline, beckoning influencers to show off their bikini bod. Rock Sound Airport services South Eleuthera and I noticed a few other noteworthy restaurants have popped up in the settlement of Rock Sound since my last visit.

Tarpum Bay Swings. Photo credit @eleutherablueseahorse

Harbour Island & Spanish Wells

And if for some reason, you get bored of the endless expanses of empty beaches, smiling locals and quaint settlements of Eleuthera, you can always pop over to the islands of Harbour Island or Spanish Wells (located just off of North Eleuthera) for a vibrant social scene with plenty of bar and restaurant options. Harbour Island has traditionally been a destination in itself, with property values always on the increase and new development continuing to steamroll ahead. Spanish Wells was a quiet fishing community which has seen an influx in investors fixing up the historic cottages and renting them as vacation rentals. Several restaurants have popped up, and along with stunning beach and friendly local’s hospitality, it seems to have a wonderful new-found attraction to it.

So why is everyone buying in Eleuthera?

Location, location location

Eleuthera is just over 200 miles from Miami, FL. In the way of international island destinations, you couldn’t get much closer to the mainland US if you tried. North Eleuthera is one of the closest airports to Nassau, and with 7 domestic flights per day, it makes it easy to pop over for a quick overnight or a long weekend (via an 18-minute flight). It also offers daily direct flights from Miami, Fort Lauderdale and Atlanta, making it ridiculously easy to plan your trip (or make it your second home destination). If you’re looking at basing yourself Central or South, you have the option for Governor’s Harbour or Rock Sound Airports. While they don’t have the number of flight options that North Eleuthera offers, they do offer more opportunities to arrive than some other Out Island destinations.

It’s a sound investment

Like most countries, The Bahamian Government recognizes foreign home ownership as an important source of Foreign Direct Investment (FDI). The Bahamas has been a relatively stable investment option for homeowners over the years, with the $B matching the $US and economy following in stride with South Florida. For return on your investment, we’ll be brutally honest with you, it’s not going to give you a great rate of return. But if you fall in love with the island and see a second home as being a family gathering place, and then throw it in the rental pool for a bit of subsidized cash, you should be quite content with your situation. Families have been using the island as a destination getaway for generations (many modest beach homes outside of the historical settlements date back to the 1960’s), but with the emergence of vacation rental websites such as Airbnb and VRBO, you now have the option to put your home in the rental pool that wasn’t available 50 years ago. If you look at the landscape of Eleuthera, it’s pretty much all waterfront or water-view. You’d almost find it hard-press not to find something with a water view. Even if inland lots in the Bahamas haven’t increased in value much over the years (unless you’re in Lyford Cay), waterfront property tends to hold and increase in value, so you almost can’t go wrong with buying a property nestled next to the ocean.

Eleuthera Beaches. Photo Credit Eleuthera Paradise

It’s affordable

It’s affordable AND it’s absolutely beautiful. You may be able to find affordable property in Topeka, KS, but perhaps you don’t have that ocean view you’re looking for. I am literally shocked that there isn’t more development in Eleuthera already. In the grand scheme of purchasing property next to the most beautiful beaches you’ve ever seen in your life, it’s ridiculously affordable. Of course, you have to consider the limited amenities and tradeoffs for purchasing property on the island. The grocery stores only have basic staple items and the nearest hospital facilities are in Nassau or Miami. But if you don’t mind “country-living”, you couldn’t ask for much more.

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If you’re interested in buying property or building in the area, feel free to reach out to Out Island Life’s Mark Moyle. Mark is a licensed real estate agent and owner’s representative/project manager for construction. He specializes in the Harbour Island and Eleuthera area.

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