Savills

Research article

St Vincent and the Grenadines

Supply and demand is, at present, balanced in St Vincent and the Grenadines.

Forthcoming hotel schemes include St Vincent Marriott Resort and a Sandals Beaches Resort. These new developments look to take advantage of rising tourist numbers to the islands.

 

Known for its sailing and numerous private islands, St Vincent and the Grenadines has a well-established prime residential market. Prices have held steady over the past three years, thanks to balanced supply and demand, despite global economic headwinds. Prime property here is viewed as good value for money in the Caribbean market. The islands attract a variety of nationalities, with North American and British nationals together accounting for 70%, of purchasers, and German, French and the Nordics buyers the remainder.

There is a significant amount of hotel development in the pipeline. Branded hotels have a limited presence on the islands, presenting opportunity for investment. The branded hotel currently operating is the Mandarin Oriental Canouan, 26 suites and 13 villas command luxury prices as they sit in prime positioning on the Godahl Beach with an ocean view.

Tourism and tourist services account for over 60% of the Islands economy, so these future developments demonstrate confidence in the growth of the tourism sector. Although disrupted by the global Covid-19 pandemic, pre pandemic visitor figures doubled in five years to over 300,000 visitors in 2019. Global citizens are also drawn to the international accessibility a St Vincent and the Grenadines passport grants, with the ability to enter 152 countries. Unlike other islands in the Caribbean, there is no Citizenship by Investment programme, though it remains a legislative possibility.