Grenada’s real estate market is in the beginning of a post-Covid rebound. According to the recently released Century 21 Grenada Annual Real Estate Market Report, early numbers in 2023 indicate strong sales, with projections that the market will return to the high-water mark of 2019.
“The connection between our tourism numbers and real estate sales has become very clear over the last 3 years. The disruption of air travel undercut the market highs we reached in 2019”, explained Paula La Touche-Keller, Managing Director of Century 21 Grenada. “While the market remained stable, with no discernable reductions in property values, the total sales volumes declined over the last 3 years. This was due to the fact many potential buyers were simply unable to get to Grenada”.
Available flights to Grenada have now returned to pre-pandemic levels, with many flying at 100% capacity. “There is every indication that 2023 will be a very strong year for real estate sales in Grenada, possibly returning to the market high of 2019”, added Mrs La Touche-Keller
Grenada’s total real estate sales in 2022 were US$75,208,719 with the vast majority of these being the purchase of vacant land by Grenadian nationals.
The report names the Six Senses and InterContinental hotel being built by Range Development as a likely gamechanger for the surrounding parish of St David, stating, “The scale of the project will certainly drive increased employment and further development in the area… expect considerable spin-off investment and development as these hotels become operational.”
In addition, the report gives an update of Grenada’s Citizenship by Investment Program, the country’s growing rental market, and lots of data and insights on its general real estate market.
The report is available for download at C21Grenada.com
C21 Grenada
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