Property for sale in Grenada
If you are looking for a property for sale in Grenata you need to read our report about its real estate market. Grenada is a Caribbean country consisting of a main island and several smaller islands all around. The central island Grenada is nicknamed the Spice Island and takes its name from the state, it presents a hilly territory home to nutmeg plantations. Here there is the capital, St. George's, whose colourful houses, Georgian buildings and the early 18th-century Fort George overlook the narrow Carenage harbour. To the south there is the Grand Anse Beach.
Grenada is located north of Trinidad and Tobago and south of Saint Vincent and the Grenadines.
The real estate market in Grenada has grown significantly in 2018 and this positive trend is expected to continue in 2019.
Last year was a positive year for Grenada: after almost seven years of contraction and stagnation caused by the global economic collapse, we are finally seeing stabilization trends and signs of growth in the real estate market. So this is a good moment if you want to buy a property for sale in Grenada.
The recuperation of the Grenada market is due to the economic recoveries of the United States and the United Kingdom, since the majority of international buyers interested in properties for sale in Grenada come from these 2 countries. Although foreign buyers make up only 7% of transactions, their share in value is significant.
The rise of the market was also favoured by the Citizenship by Investment (CBI) program, which allowed various luxury developments to obtain the necessary capital through fractional ownership or the sale of shares in the company.
This program has achieved significant traction. The CBI program should feed further real estate developments.
Foreigners can buy land in Grenada. Foreigners must pay the tax on the alien land holding, equal to 10% of the value of the property, which grants them a license to hold foreign land.
In general, yields are around 4.3% for properties in coastal areas of Grenada, the centre of the rental market.
Rents in the islands are predominantly seasonal, but this figure is for long-term leases.
The Grenada real estate market continues to expand and develop, setting a new sales record of properties for sale in Grenada. Several projects arriving in 2018 are positioned to establish new levels of luxury properties.
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