Buying Grenada real estate is an excellent investment and a chance to secure a second home or high-yielding rental property. The Grenada Tourism Authority reported a 30 percent in tourism for quarter one of 2024, and according to the Investment Migration Agency Grenada (IMA), approved real estate investments for Grenada’s citizenship program reached EC 672 million ($248.65 million) in 2023, making the property market in Grenada one of the Caribbean’s most lucrative.
Gain an understanding of the real estate market in Grenada in our expert guide, which provides insights into financial projects, the buying process, and approved properties to qualify for citizenship by investment.
Grenada Real Estate Market Overview
Since the introduction of the Grenada citizenship by investment program in 2013, the number of foreigners investing in Grenada and its property market has significantly increased. Purchasing real estate in Grenada is the most popular investment route in the citizenship program, which increased from EC 151 million ($55.87 million) in 2020 to EC 672 million ($248.65 million) in 2023.
According to data from Statista and the Grenada Tourism Authority, over 500,000 tourists arrived in Grenada in 2023, marking a remarkable recovery from record lows during the COVID-19 Pandemic and opportunities for investment in real estate.
Property market trends
In 2022, Savills reported that 42 percent of international buyers were British, 33 percent were American, and 25 percent were Canadian, driven by demand for vacation and retirement homes. At just 344 square kilometers, Grenada is one of the smallest sovereign countries in the Americas, and residential real estate remains limited. The surge in demand has pushed property prices up, presenting profitable opportunities for investors to develop housing or invest in IMA-approved real estate projects within the Grenada citizenship program.
Property types
Various property types are available in Grenada, from luxury villas and modern apartments to historic plantation homes and luxury resorts run by reliable property management companies. Depending on the Grenada property type and your preference, buying Grenada land and building the home of your dreams is possible.
The main island is divided into six parishes, of which St Andrew is the largest. However, the capital city of St George’s is where most of the population lives and, therefore, has the highest property prices. Some of the best places to buy property in Grenada are St George, St Patrick, Carriacou, Grand Anse, St Patrick, and Lance aux Epines.
Why buy real estate in Grenada?
 | A lucrative real estate market, bolstered by demand for resident property from British, American, and Canadian nationals, as well as a growing tourism industry |
 | A safe Caribbean country with a friendly local population and a large expat community |
 | Invest in pre-approved Grenada real estate and get Caribbean citizenship |
 | Easy access to a retirement or vacation home, with good connections to international hubs, including direct flights to Toronto, New York, and Miami |
 | Low Grenada property tax of just 0.5 to 0.8 percent annually |
Finding Property for Sale in Grenada
Several Grenada real estate websites offer property to buy in Grenada. International real estate websites listing Grenada real estate to buy include:
- Terra Caribbean
- 7th Heaven Properties
- Century 21 Grenada
- Point2Homes
Grenada real estate developments
St George: The Coral Cove Hotel development by Charis Group Ltd offers sea-view suites with balconies from $270,000.
Grand Anse: The Emreal Suites development by Reece Investment Inc. offers shares in eco-friendly luxury suites from $270,000.
St George: The Hideaway True Blue offers strategic residential apartments close to Maurice Bishop International Airport and St George’s University from, from $350,000 for a studio to $425,000 for a two-bedroom apartment.
L’Esterre: The Sanctuary at Fiji Beach on the Grenada island of Carriacou is a gated community and private resort offering options such as Alamanda Villas and Hibiscus Condominiums from $350,000.
Other real estate for sale in Grenada
Fiji Beach, Carriacou | |
Property Type | Beachfront land |
Description | Covering an area of 2.89 acres, this beachfront lot is ideal for a boutique hotel or luxury villa development. The plot's beach stretches 185 feet of white sand and offers incredible views of the Caribbean Sea and neighboring islands of Palm Island, Union Island, Mayreau, and Tobago Keys. |
Bedrooms | N/A |
Total Area | 125,888 sq ft |
Price | USD $680,000 |
Morne Rouge, Grand Anse | |
Property Type | Apartment building |
Description | This classic five-bedroom apartment building is located in Morne Rouge of Grande Anse's shopping district. The building is a short walk from key attractions and amenities, including Grand Anse Beach, restaurants, and shopping malls. The floor plan includes three apartments; a one and two-bedroom studio, and a penthouse. |
Bedrooms | Five |
Total Area | 14,399 sq ft (internal area 9,411 sq ft) |
Price | USD $980,000 |
Lance aux Epines | |
Property Type | Beachfront villa |
Description | With 150 feet of direct beach access, this 5.5-bedroom luxury villa sits at the tip of Grenada's south coast in Lance aux Epines. The grounds cover over a quarter of an acre, and the elevated lookout provides panoramic views of the Caribbean Sea and the Atlantic Ocean. The property features two swimming pools, an outdoor jacuzzi, and multiple decks. |
Bedrooms | Five |
Total Area | 11,554 sq ft (internal area 5,500 sq ft) |
Price | USD $1.75 million |
Hideaway, True Blue | |
Property Type | Condo |
Description | This student property is located at the entrance of Grenada's renowned St George's University in True Blue. The two-bedroom unit features a balcony and is just five minutes from several beaches and Maurice Bishop International Airport. |
Bedrooms | Two |
Total Area | 926 sq ft |
Price | USD $425,000 |
Mount Craven, St Patrick’s | |
Property Type | Three-bedroom home |
Description | This three-bedroom, 3,000-square-foot home is situated on a plot of over 30,000 square feet among lush vegetation and flowers. It features an en suite master bedroom and a wrap-around veranda and is within walking distance of the beach. |
Bedrooms | Three |
Total Area | 32,127 sq ft (internal area 3,000sq ft) |
Price | USD $375,000 |
Grenada | |
Property Type | Private island |
Description | Located off Grenada's northeast coast is a stunning 20-acre private island. The undeveloped island offers the rare opportunity to construct a luxury private home or boutique resort. It is easily accessible from Grenada's mainland and international airport via a 10-15 minute boat ride. |
Bedrooms | N/A |
Total Area | 871,200 sq ft |
Price | USD $7 million |
How to Buy Grenada Property
If you wish to purchase Grenada island real estate, two options are available:
- Access property for sale in Grenada through an authorized real estate agent or on your own, and search for vacation rentals or Grenada homes for sale.
- Obtain an Alien Landholding License, which grants permission to purchase Grenada property as a foreigner. The license costs ten percent of the property value.
- Hire a reputable lawyer to draft a Purchase and Sale contract. You’ll typically have to pay a ten percent deposit to secure the purchase.
- Get a certified property surveyor to conduct the valuation and prepare documents to transfer the title deed.
- After approval, documents will be submitted by the lawyer to the Grenada Land Registry to register you as the new property owner.
Alien Landholding License
Obtaining an Alien Landholding License (ALHL) is required for foreigners to purchase real estate in Grenada.
CBI real estate purchase
Buying Grenada property approved under Grenada’s CBI program for at least $270,000 waives the requirement to obtain an ALHL.
Discover why you should Invest in Grenada
Buying Property in Grenada to Get Citizenship
Thanks to the Grenada citizenship by investment program, foreign buyers can purchase Grenada pre-approved real estate and gain citizenship without having to obtain an Alien Landholding License.
The purchase must be in a government-approved project and worth at least $270,000 in real estate shares or $350,000 in a private home and held for at least five years to maintain dual citizenship and a Caribbean passport.
The buying process requires the following steps:
- Contact an authorized agent, like Global Citizen Solutions, to assist in filling out the relevant CBI application forms.
- The agent will submit completed forms and documents on your behalf to the Grenada CBI Committee.
- Your application is submitted for a due diligence check by the Investment Migration Agency Grenada (IMA). If approved, the applicant can initiate a real estate purchase.
- Proof of purchase is sent to the Investment Migration Agency Grenada.
- Final approval and issuance of a Grenada citizenship certificate by IMA
Grenada Property Prices
Depending on the property type, prices of property for sale in Grenada cities like St George range from $160,000 to $7 million. According to data from listing information provided by Numbeo, the cost per square meter for an apartment ranges from $755 to $1,700.
Grenada property transaction costs
- Alien Landholding License: Ten percent
- Legal fees: One percent to two percent
- Stamp duty: One percent
- Property Transfer Tax: Ten percent
Mortgages for international buyers
International property buyers may be able to finance property purchases in Grenada through local banks or international institutions, though the process will differ from residents. Generally, Grenada banks require non-residents to pay larger down payments of 30 to 50 percent of the property’s value, along with higher interest rates than local buyers are subject to. Mortgage terms are also typically shorter. Given the higher risk factors involved in lending to non-residents, mortgage lenders tend to approve loans for those with considerable wealth or assets.
Is it worth getting real estate in Grenada?
If you are looking to invest, retire, or simply buy a second home or rental property, acquiring real estate in Grenada is worth it. Overall, Grenada’s property market is limited, and it’s worthwhile to secure a property to live in or earn rental income through a trustworthy Grenada property management company. Grenada is safe for Caribbean real estate investments due to its stable economy.
Take a look at our Grenada Citizenship by Investment Ultimate Guide
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about Grenada Real Estate
As a foreigner, can I buy real estate in Grenada?
A foreigner can buy Grenada real estate by applying for an Alien Landholding License. The cost of the license amounts to ten percent of the property value. Foreigners can buy homes for sale in Grenada in Grenada-approved areas without a license through the Grenada CBI program.
What are the best places to buy property in Grenada?
Some of the best places to buy property in Grenada are:
- St George
- Carriacou
- Grand Anse
- Lance aux Epines
- L’Esterre
- Morne Rouge
What kind of homes can I find in Grenada?
There are many types of houses for sale in Grenada in popular cities like St George, including historic plantation homes, modern apartments, beachfront villas, and bungalows. Foreign buyers can also buy Grenada land and build their own houses.
How much does a house in Grenada cost?
The cost of a house in Grenada can vary from $160,000 to $7 million, depending on several factors like the property’s location, size, and condition.
What is the average price of a house in Grenada?
According to new listings on Rightmove, the average price of homes for sale in Grenada ranges from $200,000 to $1 million.
How much is property tax in Grenada?
Grenada property tax is charged at progressive rates from 0.5 to 0.8 percent of the property value for residential properties and hotels. Other commercial Grenada real estate investment is subject to a property tax rate of 0.2 to 0.5 percent. Grenada agricultural real estate is not subject to property taxes.
