Grenada’s property market? If you ask the economists, bankers and financial nerds about the global recession and you’ll probably be told it’s over. Growth is back in America, UK, Europe, Japan and all the other industrialised nations (China is and was a different story). In Grenada? We’re not there yet!The recession was a little late arriving here and it’s a little late leaving too! As far as the island is concerned it can go any time it likes! That’s looking at the island’s overall economy of course – tourism, agriculture, construction, employment etc. What about property specifically? In USA and in England house prices are getting back to or passing pre-recession levels. The UK government is being asked to take steps to prevent a burgeoning bubble. In Grenada? Not yet! Here the market is still depressed. Or is it? Everybody knows that there are cycles in economic activity and nowhere more so than in property. The trick is to see the peaks and troughs and that seems to need the use of a crystal ball and a little witchcraft. Nobody can be certain about where we are in the cycle at any given time but there are always plenty of opinions. Coldwell Banker has seen it all before – many times – and they are pointing out some hard and current facts that are difficult to ignore. At the moment you can buy a lovely, fully furnished, well maintained, well built house for less than the cost of building it. By that I mean the just the actual cost of building only and not including the purchase of the land, fees, interest, furnishings etc. And you can buy it today, move in tomorrow and pick the mangos off the trees for breakfast. That has to be a bargain and it can’t last. It is and it won’t. If it did there would be no house building again in Grenada, ever! Not only are these bargains available there’s a choice of them. You don’t have to make an indecent grab at the only one you may be lucky enough to find; there are plenty to look at and time to give them the thought they deserve. Coldwell Banker can show you a selection.
Posted on: Wed, 25 Jun 2014 19:55:25 +0000
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