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Grenada & Carriacou / Real Estate

By James Henderson, Judith Baker

Although it has seen steady increase in building by islanders and latterly visitors, Grenada is still relatively undeveloped and there is plenty of scope to build on the island. Prices have never reached the heights of say, Barbados or Anguilla, and represent good value by comparison, but the island has attracted attention over recent years as a number of high profile publications and agencies identified it as one of ten markets for future growth  and destined to become ‘the newest hotspot in the Caribbean'.

Grenada was badly affected by Hurricane Ivan in 2004 and there has been a flurry of building and renovation of existing properties since then.  The most developed area of the island is the southwest, around St George’s and south of there, but most particularly on the Point Salines Peninsular and at L’Anse aux Epines. Gradually development has crept east from here, through the finger coves on the southern coastline. There are now villa developments at Westerhall and Fort Jeudy.

Consequently Grenada has attracted major investment and prices have risen fast as top notch villa developments came on line at Grand Harbour and Prickly Bay.  British developer Peter de Savary has invested heavily in the island by reclaiming some of the Carenage waterfront and developing the Port Louis Marina with 140 berths, which has attracted yachtsmen and holidaymakers alike, as well as opening the stylish Mount Cinnamon Resort at the Southern end of Grand Anse beach where prices range from US$500,000 to US$1 million.

Plans for a  Four Seasons resort on Hog Island were put on hold pending assessment of the area but now look set to go ahead along with a development of luxury homes.   .

Latest on the Grenadian property scene is The Grenada Beach Club, a new development  located on Grand Anse beach, which will be a gated residential community with 11 villas for sale at prices starting at US$ 3,500,000 

Carriacou is very different from Grenada. It is a much smaller island and it is also much less developed. The beaches and sea are better, so that there is plenty of potential, but there are obviously the logistical issues of the remoteness and the fewer facilities and services available on the island. Also, land is limited, as the islanders are often reluctant to sell.

Carriacou is not completely undeveloped. There are a few villas, mainly in the west of the island (three bedroom villas have been on the market for around US$500,000). Up to now building has been mostly in the west around Tyrrell Bay (where villas come onto the market from time to time) and to the north of Hillsborough, around Snow Hill and Cherry Hill - the old Craigstoun Estate. The island retains an old fashioned low key charm, and some character properties often described as ‘English country homes in the Caribbean’ sell for around US$350,000.

See below for recommendations and listings of Grenada Real Estate agents.

Contributors: Alexander Gray (research)

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Looking for inspiration?

  1. Sail the Grenadines from Carriacou to St Vincent
  2. Jab Jab at Grenada's Spice Mas Festival
  3. Dive the Titanic of the Caribbean - the Bianca C
  4. Enjoy Grenada's culinary and cultural history at Belmont Estate
  5. Explore the island's natural beauty around Grand Etang

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