Overview – The Grenada Real Estate Market
Known as the “Isle of Spice” because of the nutmeg, cinnamon and cocoa produced on the island, Grenada is lush and green, with verdant rainforests, spectacular waterfalls and more than 45 beautiful beaches. The waters surrounding Grenada and sister islands Carriacou and Petite Martinique are equally spectacular, offering some of the best diving sites in the world and the world’s first underwater sculpture park. Capitalising on the allure of the turquoise sea and its proximity to the Grenadines, including the Tobago Cays and Bequia, Grenada is emerging as an international yachting hub, with its own super yacht marina. The southern Caribbean island also retains an unspoiled tranquillity and natural friendliness that has been lost elsewhere, all of which adds to the appeal of the Grenada real estate market.
Real estate for sale in Grenada includes properties with docks which are ideal for yachting enthusiasts. Beachfront homes and historic plantations houses are also available for sale. Property prices are, for the time being, typically lower than other Caribbean islands with a more established market.
Having followed the lead of nearby St Kitts & Nevis and Antigua & Barbuda in launching a Citizenship by Investment Program, the Grenada real estate market is expected to develop rapidly. Grenada real estate prices are consequently expected to gradually rise.
Search our Grenada Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property, land for sale and commercial real estate in Grenada.
Our agents on island can offer unrivaled local insight into the market and the most desirable investment opportunities.
To discover your perfect property in Grenada, search our Grenada real estate listings.
Discover Carriacou – Read our Guide to Carriacou Real Estate.
Discover Fort Jeudy – Read our Guide to Fort Jeudy Real Estate.
Discover Grand Anse – Read our Guide to Grand Anse Real Estate.
Lance aux Epines
Discover Lance aux Epines – Read our Guide to Lance aux Epines Real Estate.
Discover Levera – Read our Guide to Levera Real Estate.
Discover Westerhall Point – Read our Guide to Westerhall Point Real Estate.
Buying Property in Grenada
Foreign buyers can acquire real estate in Grenada but require an Alien Landholding License, which typically takes 6 months to be granted and costs 10% of the purchase price of the property. Some developers can arrange a 1 month process.
Once you have made an offer in writing which has been accepted, the seller’s lawyer will prepare a sale agreement. You will need to pay a 10% deposit which will be held in escrow by the seller’s lawyer. Your lawyer will then conduct a title search and due diligence and make the final payment to complete.
Buyers are typically required to may legal fees of 2% plus Stamp Duty of 1% of the purchase price of the property. Some developers have negotiated concessions from the government of Grenada which have significantly cut the total paid in property taxes and fees.
Non-citizen property sellers are required to pay a Land Transfer Tax of 15% of the purchase price of the property to the Government of Grenada.
There is also an annual property tax of 0.3% of the property value or 0.2% of the land value.
Foreign investors can apply for permanent residency and then citizenship following 7 years of residency.
Mortgages in Grenada
Looking for financing to fund the purchase of property in the Caribbean?
Contrary to popular misconception, it is possible for foreign nationals looking to invest in Grenada real estate to apply for a mortgage.
Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in Grenada.
For more information, see our page on: Caribbean mortgages.
Grenada Citizenship by Investment Program
Grenada operates a Citizenship by Investment Program which offers qualified investors the opportunity to obtain full citizenship of Grenada in exchange for a significant contribution to the nation’s finances, either through a financial contribution to a government fund or via an investment in an approved real estate project.
Read more: Grenada Citizenship by Investment.
Grenada – Land for Sale
Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in Grenada.
Whether you are looking for beachfront land or a centrally located plot, we offer various lots of land for sale in Grenada.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Saving on Your Purchase
You could save money when investing in Grenada real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in Grenada. To see how you could save money, read more: Foreign Exchange.
There are direct flights to Grenada from various cities in the USA, Canada and Europe.
International flights arrive at Maurice Bishop Airport on the south-western coast of Grenada near Lance Aux Epines, Grand Anse and St Georges.
From Europe, fly with British Airways or Virgin Atlantic from London or with Condor from Frankfurt.
From North America to Grenada, fly with American Airlines from Miami, with Delta from New York or with Caribbean Airlines from Miami, New York, Orlando or Toronto.
London Gatwick to Grenada: 10 hours 20 mins
New York JFK to Grenada: 4 hours 30 mins
Miami to Grenada: 3 hours 37 mins
Toronto to Grenada: 5 hours 25 mins
To get to Carriacou take a short connecting flight from Grenada which takes 20 minutes.