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Why Property Buyers Should Look At Grenada

May 22, 2009Article by Ray Withers

With so many beautiful places in the world to consider buying property, one particular corner of the Caribbean offers  the peace, quiet and relaxation that is missing from the larger established tourist destinations like Bermuda, Jamaica and Barbados.For buyers considering property in the Caribbean, then here’s some good reasons to look at Grenada real estate.

Unspoilt natural beauty
Grenada is one of the smallest Caribbean islands at about 21 miles north to south and 11 miles wide. The island has a backbone of mountains thrown up by volcanoes surrounded by lush, green tropical forests and farmland.Attractions include  swimming at the foot of crystal clear waterfalls like the Seven Sisters.

Sugar and spice…and all things nice
Grenada is the Spice Island – and one of the world’s largest producers and exporters of nutmeg, cinnamon, cloves and ginger.Cane sugar is in abundance as well as the smell of chocolate hanging heavy in the air. The quaint Grenada Chocolate Company is an irresistible lure to many.

Rum so strong it’s almost rocket fuel
Grenada is the home to 69 proof rum – it’s made as 69 proof because if it was just one degree stronger, it couldn’t leave the island by plane because it would be considered too combustible and is confiscated at the airport.Of course, for the brave, local 75 proof rum is served.

Beaches
With 45 beautiful white sand, palm fringed sun kissed beaches to choose from, Grenada is a dream destination for a quiet holiday besides the blazing blue Caribbean.

Cheap cost of living
Food, drink and entertainment is a fraction of the cost of what would be paid for the same in the US or Europe

Controlled resort development
The Grenadine government is carefully controlling tourism and resort development to try and keep the island an exclusive and uncrowded destination.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.

Author

Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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