Grenada’s property market offers potential homeowner, the business sector and the serious foreign investor enormous investment opportunities. However, gone were the days when you could peek up prime pieces of real estate for less than the price of a used family car. Today’s property speculators are employing the services of well trained scouts to seek out real estate bargains for development. Land prices continue to rise in value as a result of the scarcity of building land. Demands for building plots throughout the island continue to grow; this is particularly true in the south of the island. However to the north eastern and western coastal areas; reasonable price building plots can still be found. One could argue that the arrival of foreign property developers, over the past few years has set the trend in real estate acquisitions, this trend can also be found in the local business sector.
In summary the construction industry over the past several years, have consistently experienced buoyant growth, as a result of infrastructure development, increases in private individual residential construction, the reconstruction emerging after hurricane Ivan and Emily’s brutal devastation with unprecedented level of damage to properties in 2004, expansion of the commercial sector and new opportunities that has presented themselves to returning nationals and investors to purchase and developed their own piece of paradise. As a non-Grenadian, a purchaser must apply for alien land holding licence.

ALIEN LAND HOLDING LICENCE

Foreigners can purchase property provided they hold an Alien Land Holding Licence. (Currently 10% of the selling price). A notary public handles the paperwork. A police clearance from your place of residence and bank reference must be provided. Foreigners wishing to invest in Grenada in the area of tourism and light manufacturing can qualify for special concessions, i.e. tax free concessions on importation of various materials etc