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Spice Up Your Life With A Caribbean Investment
March 11, 2009Article by Ray Withers
If you’re an investor looking to spice up your life, then property in Grenada . – the original Spice Island might be the place for you. The scents of nutmeg, cinnamon, ginger and vanilla linger on the air reminding visitors that Grenada is one of the world’s biggest exporters of spices. After some tough times before the turn of the century – with the US invasion and a devastating hurricane, the people of Grenada have rebuilt their island paradise in to one of the leading tourist destinations in the Caribbean. Throughout the cruise seasons, liners disgorge more than 250,000 passengers in to the capital St George’s – popularly held to be one of the prettiest Caribbean cities.
The government is investing money in tourist infrastructure to attract more visitors to Grenada, an island that shows a new face at the turn of every corner. Inland are volcanic mountains, crater lakes and dense tropical forest, giving way to farming land then pristine white sandy beaches with crystal clear water and coral reefs alive with colourful fish. With flights direct from the US, London and Europe, Grenada expects to increase tourism over the next few years.
To take advantage of the booming tourist economy, developers have moved in to Grenada property investment and the government is cleverly and carefully curbing resort and hotel building to maintain the tranquillity and character of the island. One of these resorts is the luxurious Bacolet Bay, which provides top class accommodation and facilities as a resort set in 41 acres of tropical gardens with state-of-the-art facilities, including a leading spa, leisure and restaurant. From £71,550, investors can buy accommodation with a 70% loan-to-value mortgage with returns predicting net yields of between 11.3% and 14.3%
Owners can play out their tropical island fantasies with four weeks personal use per year.
Bacolet Bay, Grenada , will feature a holistic spa created by the renowned designers of the Armani spas in Tokyo, Dubai and Milan. This resort features a beachfront wedding chapel, and crèche. Currently, Grenada has a handful of five-star hotels and resorts. Occupancy rates stand at 89% during the peak season, whilst a conservative estimate for future occupancy rates over the year is 65%. An expert management company with a track record in controlling top international resorts will look after investment in Bacolet Bay.
As one of the least developed Caribbean islands, there is a shortage of high-quality Grenada real estate .
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