The Real Estate sector in Grenada saw considerable growth in 2015, recording an increase in sales volumes of 71% over 2014.This figure was highlighted in the January 2016 release of the Grenada Real Estate Market Report, by Century 21 Grenada Grenadines.
In addition, there was strong growth in the commercial sector. Evidence of this growth was revealed by an increase of 46% in the number of approvals for new construction of commercial units and increased occupancy in a number of commercial complexes.
Century 21 Grenada anticipates ‘strong activity’ in the commercial real estate sector will continue in 2016 with a number of projects unfolding under the Government’s Citizen by Investment (CBI) Programme.
The CBI programme was launched in 2013 as part of a Government thrust to increase foreign direct investment in the country. Investors in approved real estate projects are given the option to apply for Grenadian Citizenship.
According to the Century 21 report, the programme is gaining significant traction globally and generating increased recognition of Grenada as a luxury destination.