Freeport City Guide

Freeport, the planned commercial city on Grand Bahama Island, is the Bahamas' value-and-recovery market and the most affordable of the major foreign-investor destinations. Operating under the unique Hawksbill Creek Agreement free-trade zone, it offers duty and tax concessions that appeal to businesses and investors. After post-hurricane and pandemic slowdowns the market is on a clear upward trajectory: the island-wide median home price is roughly US$475,000, far below New Providence, while waterfront Lucaya homes range from about US$399,000 to US$4.5M (median near US$1.29M) and premium West End estates run US$1.7M to US$6.5M. Prime product sits around US$300-$700 per square foot. Crucially, yields are strong for the price: Lucaya waterfront homes with pools and docks generate 8-9% annual yields. Major catalysts, a large new cruise port and an airport overhaul, are moving from planning into reality, tightening supply and lifting values into 2026. Foreign ownership is unrestricted with only Investments Board registration for sub-five-acre homes, closing costs centre on 10% VAT plus ~2.5% legal fees, and US$750,000+ purchases qualify for permanent residency. Freeport is the Bahamas play for value, yield and infrastructure-led upside.