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Why Grenada?

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Star Development > Why Grenada?
Why Grenada?

A wonderful serenity has taken possession of our soul after visiting The Island of Spice

Grenada is a lovely island blessed with the breathtaking lush interior, beautiful beaches and flavorful food. But the people here are what make the Island of Spice so unique. Grenadians are without a doubt some of the friendliest people in the Caribbean. Our vision is to put Grenada real estate development market on the map through sustainable development of the landmark properties which will benefit the Company and the local society. We are PROUD to call Grenada our Home!

Game Changers

There have been several significant game changers to the Grenada real estate market over 2016 and into 2017. We are confident that the following three developments will have profound and sustained impacts in the markets in which they have occurred and in some instances over broad swatches of Grenada and its real estate market.

The Break Water, Sauteurs – While primarily created as a sea defense against raising sea levels, the breakwater will have the added benefit of creating a greatly improved harbor. This safe harbor will create the opportunity for the northern parishes to access Grenada’s portion of the Grenadine Islands and surrounding waterways. At the moment, the only practical access to the sea (be it for sailing, diving, or fishing charters) is from the lower parishes. Assuming timely completion of the planned 1,500ft breakwater, we expect to see a range of private initiatives to offer moorings, dingy and small-craft jetty facilities, and variety of charter and watersport options.

The Tyrell Bay Marina Facility, Carriacou – After many years of fits and starts, it appears that the Tyrell Bay Marina will be operational in 2017. A haul-out facility of this size and capacity will create an entirely new level of economic activity for the sister island. We expect to see sustained increases in the number of transactions and value of those transactions in the surrounding areas.

The Citizenship by Investment Program, Grenada – 2017 will see the completion of the first two real estate projects funded through the program. This will substantively increase and improve on Grenada’s luxury room-stock and real estate product. It will also validate Grenada’s Citizenship by Investment Program.

Real Estate Market Overview

A pronounced improvement in Grenada’s real estate market began in late 2012. In 2015 sales volumes surged by 71%. In 2016 the Grenada real estate market set a new high, with a nearly 23% increase over 2015.