| The Gentle Island | | Print | |
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Page 2 of 2  What
appealed was the combination of natural beauty (rainforests covering
steep hills and steep valleys, dramatic waterfalls, 45 white and nine
black sand beaches), political stability, and efficient infrastructure,
and international airport with direct flights to the US and the UK and
tax breaks and other government incentives. "I was also struck by the
amazing friendliness of the people," de Savary says. "Their homes might
be humble but they’re spotless, their children are beautifully turned
out, the level of education and intelligence is high and they want to
work and get on in life. And there really is zero sense of colour
difference."The current environment stands in stark contrast to the upheaval that followed independence form the UK in 1974. Five years later a coup staged by Maurice Bishop led to the formation of a socialist state with close ties to Cuba and the Soviet Union. This came to an end in 1983, when Bishop was overthrown and executed. A more radical faction seized power and the US subsequently invaded the island. The long shadow of the conflict – coupled with Grenada’s status as the largest producer of spices in the western hemisphere – delayed hotel and second-home development on the 21 mile-long island and its sisters Carriacou and Petit Martinique. Although there are a few pleasant, long established hotels, the total room count on the island is only 1,800, fewer than half of which are three-star standard or higher. At the same time, visitor numbers are growing, with 200,000 last year, a 20 per cent increase from 2005. That is why developers and property buyers see such an opportunity. Michael Pauk, a former UK stockbroker, and his wife, Catherine, recently invested £730,000 in a three-bedroom villa at Bacolet Bay, which they plan to use or offer to friends, family and colleagues, for two months a year and put into a rental pool for the rest. "I always look at the lifestyle of a place," Pauk says. "This will be five-star exclusive luxury in a beautiful location by a beach but still near the airport. [And] I think Grenada has learnt from the mistakes of other islands, where greed has led to overbuilding. Here everything is low density and strictly controlled." Costas Diamantopoulos, originally from Greece and now a UK-based property investor with holdings in London, Mykonos and Miami as well as two apartments in Mount Cinnamon recently purchased off-plan, agrees. Grenada "is not so developed but it still feels civilized", he says. "What really swung it, though, were the people. I looked at several islands because this was my first trip to the Caribbean and in some places you feel hostility, in others indifference. But both my wife and daughter commented on how welcoming the Grenadians are. We felt comfortable and secure here. He estimates that Grenadan homes cost about half of what those with similar space, surroundings and specifications go for in places such as Barbados or the Bahamas. Foreign buyers must obtain an alien land-holding licence and stamp duty is normally 10 per cent of the purchase price, though some developers have negotiated lower rates. Given that Hurricane Ivan hit only three years ago, potential buyers might worry about further storms. But, as the most southern of the Windward Islands, 135km north of Trinidad and Tobago and 145km north of Venezuela, Grenada is supposed to be outside the hurricane belt; the storm preceding Ivan hit 49 years before. Regardless, as part of the island’s "Build Back Better" campaign, all new construction is designed to withstand such disasters. There are other hurdles to Grenada’s bid to be one of the Caribbean’s top home-buying destinations. This year’s dry season was the driest anyone can remember and there are concerns that the depleted vegetation will lead to soil erosion. Bird lovers have also bitterly contested the Four Seasons project, which they think will further threaten the endangered Grenada Dove. Still, many locals, such as taxi driver Justin Louison, welcome the changes. "It will be very different but its beauty doesn’t have to be lost," he says, standing on the headland above Bacolet Bay, where he used to hunt possum and fish for barracuda as a boy. "There are a thousand people in my village, 11,000 in the parish and we need the jobs that construction and tourism will bring. I’m 48 and I have three children. We have to think of the future." Liz Gill was a guest of the Grenada Board of Tourism |
