New housing developments, including resorts and luxury villas, are starting to take off in the southern Caribbean island nation of Grenada. Grenada and the smaller island of Carriacou are two of the least developed islands in the Caribbean and they have an optimal situation for new real estate developments and investors. Property and labor costs are relatively low, so the opportunities for international investors are significant. Over the next 10 years the World Travel and Tourism Council (www.wttc.org ) expects tourism to increase yearly by 3-5%, a steady growth that will lead to greater opportunities for the island.
These new developments are scattered across Grenada and Carriacou, and range from apartments and condominiums to luxury villas. There are opportunities for overseas investors and travelers in many price ranges and sizes.
On the southern side of the island are several new resort communities that are either under construction or in the pre-construction phase. Bacolet Bay, located on the southeast part of the island, will have apartments, cottages and villas. These will range from one bedroom cottages to as many as five bedrooms for the custom built luxury villas. With beaches, pools, restaurants, a spa and other amenities, this will be one of the nicest resorts on the whole island. Other new resorts and communities include Prickly Bay on the Lance-aux-Epines Peninsula and two resorts on the Egmont Peninsula, the Egmont Resort and Grand Harbour.
Telescope Point Villas is a small development of luxury homes on the beach on Telescope Point, located along the northeast part of the island. This community will have a common beach for all residents as well as a community pool and a gatehouse. Plains City is a new housing subdivision for some 57 homes on ¼ - ½ acre lots on the northwest of the island overlooking Bathway Beach.
The Land O’ Reef Resort Villas Development on the smaller island of Carriacou is a unique opportunity to really get away from it all. These 3 bedroom villas and chalets will be solar powered and located in what many people call paradise. There will also be an eco resort and spa here for those who are looking for the natural experience. The Cherry Hill development is another smaller set of houses that overlook the main town of Hillsborough and Hillsborough Bay. Carriacou is 40 miles north of Grenada. There are daily flights and high speed catamaran service to Carriacou from Grenada.