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SPICE UP YOUR LIFE ON THE ISLAND OF GRENADA

01.06.18

When purchasing a home on island paradise, you want the process to be streamlined from start to finish. Victoria Williams, director at Coldwell Banker Grenada, gives James Matthews her top advice for a smooth relocation to Grenada

Known as the Spice Island – due to its nutmeg plantations - Grenada has all of the idyllic attributes of its brother and sister paradise islands; sunshine, blue seas, beaches, mountains, rain forests and of course stunning scenery.

But what sets this island apart, is the retention of its history through architecture, place names and culture. Formerly colonised by the French and then by the British, this tri-island state - comprising Grenada, Carriacou and Petite Martinique – wears its heritage proudly and takes advantage of this to offer a unique and friendly living experience.

People are welcomed from all walks of life to enjoy the 50 beaches of varying sizes; some white sand, some black sand, some stony, some fi ne, some secluded and others well frequented. Perhaps its biggest draw however, is its Citizenship by Investment programme, enabling foreign buyers to set up home on the island.

Victoria Williams, director of Coldwell Banker Grenada, suggests taking note of a number of factors. “Anybody can buy and sell property in Grenada, it’s just a little easier for Grenadians than it is for foreign buyers, so it’s vital that non-domestic buyers use a reputable estate agent and have good legal representation. Overseas buyers need to be aware of the requirement for an Alien Landholders License, which costs 10% for Non Residents, getting their properties and plots adequately surveyed, and being well versed in the local tax position.”

As with any property purchase, Victoria warns of a number of pitfalls to avoid, including land boundary identifi cation and infrastructure. “On the island, boundary markers are used to identify the curtilage of plots and record on the deed plans held by the Land Registry. The markers are normally a simple piece of reinforcement bar driven into the ground and marked with a piece of orange ribbon. As such, they are at the mercy of the passage of time and can become subject to ‘interpretation’.”

Buyers are advised to have a Land Surveyor check and re-establish the markers before the completion of the purchase, and if the land is being purchased for construction, it’s advisable to extend the surveyor’s brief to include a topographical survey. Right of way, access and maintenance responsibilities can also be problematic, so buyers are advised to ensure physical checks are taken of all electricity, water and telecom services.

The political climate on the island is stable and in the current property market, individuals can purchase a furnished, well maintained and well-built house for less than the cost of building it. However, this will not stay the case forever, as the island has seen significant upward mobility in the market since the latter part of 2017.

For help with professional recommendations and assistance with relocating to Grenada, contact the team at Coldwell Banker Grenada on +1 473 415 3666 or visit www.propertyingrenada.com.

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