Grenada, the more unknown gem of the Caribbean is breathtakingly beautiful, and an emerging property market ideal for second home buyers and retirees, gaining popularity with South Afrticans’ because of its affordable residency program.
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.
Property in Grenada includes homes with docks that are ideal for yachting enthusiasts, Beachfront villas and historic plantations. Property prices are, for the time being, typically lower than other Caribbean islands with a more established market. However, 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 and prices are expected to gradually rise.
There are currently a few off-plan developments available here, many being in the tourism industry. Hurst & Wills advise a buyer beware approach, as many are not yet built and developers lack a track record. This is one market we would advise to enter with caution. Choosing the best investment, and seeking independent advice to source one that stacks up is crucial here.
However, whether as a standalone second citizenship solution, an EB5 proxy or for various tax structuring advantages – or indeed, a combination of all three, purchasing a property in Grenada. provides many benefits:
- Visa free travel to c. 140 countries (UK, EU, China, Russia, to name a few)
- Expeditious processing (subject to satisfactory due diligence) within 3 – 4 months without the need to reside / visit Grenada Tax advantages
- Spouse, children, siblings and parents may be included in one citizenship application (subject to various eligibility conditions).
- Ability to resell the investment after 5 years
- Expected up to 5% return for investors.
- The ability to apply for a US E2 visa.
Many people have not heard much about Grenada, which gained independence from Great Britain in 1973, and after an invasion and short war with the United States in 1983, the democratic government and political system have been stable. Grenada’s beautiful tropical mountains, abundant waterfalls, and uncrowded beaches are what postcards are made of. The island’s crystal waters offer some of the world’s best snorkeling, diving, and sailing, and an emerging international yachting hub featuring super yacht marina.
One big advantage that Grenada has over other Caribbean countries is safety. The crime rate in Grenada is extremely low. Grenadians take a lot of pride in their country, and want to work hard, meaning that housekeepers and help are accessible here.
In summary, this is an emerging property market with prices currently lower than other more developed Caribbean destinations. It is not as close as some of the other islands due to its southern location in the Eastern Caribbean, only 100 miles north of Venezuela. Nonstop flights to Grenada’s Maurice Bishop International Airport are available from the USA, Canada and the UK.
Our view is that its stunning holiday home destination, and investment here is made more interesting due to the citizenship option, which is speedy, efficient and also gives US access. The costs of the investments to achieve citizenship are lower than other programs as are the fees involved. For South Africans, this will be an interesting opportunity, as long as they do their research and choose a credible investment.
At Hurst & Wills, we vet all of our developers and only work with the best. We are independent which means we can choose who we work with and only promote investments that are inline with our clients personal goals and wealth strategy,