Bahamas is no cheap paradise
When one hears of Bahamas, the first thought that comes to mind is luxurious beaches. While the whole of Caribbean is known for impeccable sun, sea and sand, not all destinations enjoy the same amount of fame and elegance.
Bahamas is definitely on top of the list of tropical heavens. Being as accessible as a mere 30-minute plane ride from South Florida, North Americans comprise a huge bulk of the millions of tourists who bask on beautiful Bahamian beaches every year.
But everything has a price, and Bahamas comes with a pretty high one. After all, powder white and pink sand beaches with modern infrastructure, great amenities and first-class hotels and restaurants, cannot be experienced just about anywhere.
According to Global Property Guide research, the average price for coastal properties in the Bahamas was US$5,850 per square metre (sq. m) in 2005. For houses further inland with commanding views of the ocean, the average price per sq. m was US$2,500.
Prices continue to go up even further.Beachfront property has doubled in the last 10 years, while properties in the Family Islands have soared by 80-90% says Peter Dupuch of ERA Dupuch Real Estate. According to him, the government of Bahamas has made it a goal to have a resort on every island in the Family Islands.
An enchanting archipelago
Of the 700 islands and islets that compose the archipelago of Bahamas, New Providence is the largest and is home to the nation's capital Nassau. Another of the larger islands is Grand Bahama where Freeport City, an important free trade zone and commercial center, is located.
The Out Islands or Family Islands, which refers to all the smaller islands in the Bahamas archipelago, provide a quieter and more relaxed ambience. They attract the rich and famous to invest and/or acquire second homes. This includes the likes of Michael Jackson and Sean Connery.
Great things come in small beaches
This group of smaller islands does know how to impress. Their exclusivity and obscurity appeal to those who seek to escape from the spotlight and just indulge in the relaxing ambience of the heavenly shores.
One great example is Harbour Island, which is merely 5.5 km (3.4 miles) long. This elite island has become a favorite get-away of big celebrities because they can be sure no prying eyes and star-struck fans will heckle them. Everyone on the island is free to savor the luscious pink sand beach peacefully. Besides, only a select few can shell out US$3,000 for a night's stay.
2007 elections
"Yet even paradise is not beyond reach of political controversy. The opposition party Free National Movement (FNM) accused the administration of corruption and cronyism.
To follow the Bahamian Constitution, elections were held this year. FNM, led by former Prime Minister Hubert Ingraham, won 23 of the legislature's 41 seats. The new Parliament will hold office for five years.
Ingraham is an advocate of stricter residency laws, and land leases for foreigners instead of ownership.
