Freeport Real Estate

Although the population of the island of Grand Bahama dates back for centuries, it wasn't until 1955 when Virginia businessman Wallace Groves realized the potential of this beachfront island paradise as a port of entry to the U.S. and a tourist destination. He signed an agreement with the Bahamas Government called the Hawksbill Creek agreement in which he took barren Grand Bahama real estate and built a city called Freeport around beachfront homes, waterfront condominiums and oceanfront resorts. Within a few years, the population of Freeport doubled. Wallace Groves was given permission to build airports, ports, roads, utilities, resorts and casinos. His company, The Grand Bahama Port Authority, for which he served as president, was given permission to allow tax-free income and exemption from customs duties—setting the stage for what is now Freeport, the second largest city in the Bahamas. Freeport as the name implies is a port that is exempt from Customs Duties and taxes within the port. Many residents have two cars. One with duty paid and one without duty paid. The "bonded" car cannot leave the port area unless duty is paid. To cross that line means that customs duty has been paid. Shop at Port Lucaya Marketplace or let one of our Bahamas real estate agents show you your dream beachfront and Canalfront property. Freeport real estate is a good value. Waterfront property can be found on numerous canal waterways as well as beachfront homes along what is known as "millionaire's row", where Ted Turner and Jane Fonda owned a home at one time as well as John Travolta and other stars of both sports and screen. Freeport is known as the the second city behind Nassau because of it's infrastructure and its industrial and commercial real estate. Freeport has invested in transforming a certain amount of Freeport property into a cruise port and container terminal. The Freeport Container Port is a privately owned and operated port of Hutchison Port Holdings (HPH), the world's leading port investor, real estate developer and operator with interests in 26 countries throughout Asia, the Pacific, the Middle East, Africa, Europe and the Americas. The Freeport Container port has the deepest harbour of any in this hemisphere at 16 m of depth. Freeport Container Port is located 65 miles from Florida, and is strategically located to serve as a major world container transshipment hub between the Eastern Gulf Coast of the United States, the Gulf of Mexico, the Caribbean, South America, and trade lanes to European, Mediterranean, the Far East, and Australian destinations. Freeport real estate is not only accessible by air but by cruise ship. Freeport is serviced by Freeport International Airport which can accommodate aircraft of all sizes.

Search the database to find a comprehensive list of Freeport real estate investment and rental opportunities, including:

• Freeport beachfront villas
• Freeport resort and investment properties
• Freeport commercial property
• Freeport vacation homes
• Freeport Cays private islands
• Freeport Cays real estate land