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.