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Grenada Property Investment For Sale

 

"The last undiscovered jewel of the Caribbean, but one whose popularity is rising rapidly."

 

The small country of Grenada is a tri-island nation composed of Grenada, Carriacou, and Petite Martinique and is arguably the most exciting investment market in the Caribbean, renowned for its picturesque interior of rainforests and waterfalls and its coastline of protected bays and secluded white sand beaches.

Known as the “spice island” due to its long history in the production of nutmeg and cocoa cultivation the government has increasingly turned to tourism in the aftermath of hurricanes Ivan (2004) and Emily (2005) which all but destroyed its long established agricultural sector.

Now this under developed nation is expanding the number of tourist beds it has by encouraging exclusive 5 star hotel developments, yacht clubs and marinas, which compared to neighbouring islands are considerably cheaper to invest in.

The government has introduced a variety of tax exemptions and custom concessions for tourism market investors and substantial infrastructure improvements are taking place.  Accessibility is also improving with direct flights from the UK, USA and Continental Europe as well as two large cruise ship terminals.

Country Guide

Geography

Grenada is a small Caribbean country which consists of three islands - Grenada, Carriacou and Petite Martinique. The island main island of Grenada is divided into six different parishes with St. George’s parish as the capital. The island is extremely mountainous and boasts some of the Caribbean’s most spectacular rainforests, landscapes and beaches which have all lead its growth as a popular tourist destination. Although the island is situated on the southern hurricane belt it has only experienced three hurricanes in the last fifty years.

Government

As a Parliamentary democracy, Grenada is part of the Commonwealth Realm withthe British Monarch as head of state. The parliament consists of three political parties, Grenada United Labor Party (GULP), National Democratic congress (NDC) and New National Party (NNP).  The legal system on the island is based on the English common law. Grenada is a member and an active participate of both the Caribbean Community (CARICOM) and the organization of Eastern Caribbean States (OECS).

Language

English is the main language but some of the locals speak French African Patois.

Standard of Living

The standard of living in Grenada has improved over the years with increases in the tourism,construction and manufacturing industries improving economic growth. The government has also embarked on a programme of social improvement investing heavily in rebuilding homes, schools, public building, community centers and medical facilities. 

Country Economy

Traditionally Grenada has had a large agricultural economy with sugar cane and spices accounting for the majority of the economy's exports. Cinnamon, cloves, ginger, mac, allspice and nutmeg are all important.  Grenada produces 20% of the world supply of nutmeg - the world's second largest producer behind indonesia.

The main economic force today is tourism which is the leading foreign exchange earner for the country.  New holiday developments are being back heavily by the government which in turn are creating more jobs for construction workers and those left unemployed from the hurricane Ivan disaster in 2004. The economy is very dependant on international trade and finances for the development and modernisation of the island.

Key Industries:

Grenada's main exports are agriculture and tourism. The main agriculture exports consist of fresh fruit and cocoa followed by nutmeg and bananas. Rather than exporting to other Caribbean islands, Grenada exports to bigger international countries such as the United States, Canada and Europe. Food is the island's main import, to cater for the tourists, imported by Grenada from predominantly Westernised countries such as Britain and the United States. 

Hotspots

Arguably the most exciting investment market in the Caribbean, Grenada is renowned for its picturesque interior of rainforests and waterfalls and its coastline of protected bays and secluded beaches, Grenada is the last undiscovered jewel of the Caribbean but one whose popularity is rising rapidly. 

Saint Andrew Parish and Grenville

Saint Andrew's is the largest parish in Grenada with Grenville as the main town, the island's second largest after St George. Grenville is a very important economic and transportation hub for the eastern part of the island; it also contains one of the largest nutmeg processing plant in Grenada. As this is the main city the town centre runs buses to all parts of the island.

Saint George's Parish

Saint George's is the capital of Grenada and is known to be one of the most attractive cities in the Caribbean. The parish has a horseshoe-shaped harbour surrounded by several warehouses. It is the main shipping port on the island. The parish is also home to one of the world's best known beaches, Grand Anse. The major airport on the island, Point Saline International Airport, is situated in the Saint George's parish, making it a very important central point for Grenada's tourist industry.

Saint John Parish

The parish of Saint John is described as the liveliest in Grenada and is known locally as 'the action city' because the place never sleeps. Fishing is the parishes' main industry. Gouyave is the second largest city in Grenada and home to another of the island's biggest nutmeg factories and an old spice plantation.

Saint Mark Parish

Saint Mark is the smallest parish in Grenada but it does contain the highest peak on the island - Mount Saint Catherine volcano. A popular tourist attraction in the parish is the Tufton Hall waterfall situated in a beautiful and quiet location. Saint Marks has a good night life with several bars and nightclubs to offer a wide range of tourist interest. Every year , the 'St. Marks's Day Fiesta', is held to show the different traditions of the villages in St. Marks. 
 

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