Grenada Apartments/Apartments Grenada

Grenada Apartments Blog

Apartment rentals in Grenada is now in its growth stage, moving on from an introduction over the last 10 years. Rentals in Grenada have of course always been present. This introduction began about 30 years ago with upscale hotels in Grenada, followed by the introduction of luxury villas in Grenada and then luxury apartments most recently. 



The market growth in the apartment sector in Grenada has been underscored by the development of apartment complexes in Grenada which offer a slightly lower price point (100-200$USD) due to the location or self service amenities and the demand for more basic structures. These complexes are a welcome part to the diversity of offerings for tenants seeking accommodation in Grenada.

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A new niche market is the luxury apartment sector in Grenada which offers additional services, luxury environments and private structures with two or three apartments or villas in Grenada per compound. These structures are usually family owned and offer tenants the opportunity to benefit from the expertise of the landlords and are usually located in high security areas. 



In addition, with the anticipated growth of the yachting industry throughout the Caribbean, short term rentals are in greater demand accompanied by a flexibility in services. This flexibility is currently achieved with a limited scope to apartment 'add-on's' such as weekly or daily laundry or cleaning services. There are several innovative measures being taken internationally which is likely to eventually reach the luxury apartment rental market in Grenada. Among these measures is a system of 'Influencers' who have strong relationships with luxury apartment owners and access to market data enabling effective data mining and customer targeting. In addition, systems are being created to leverage an economic benefit scheme for small businesses regionally. This is only possible through the integration of small businesses within the Caribbean with effective network structures established through complementary service businesses. 



So what's next? Forecasts predict that the growth of the niche market luxury apartment market in the Caribbean is likely to grow and it has several socio-economic advantages for the locals of the islands. This is a distinct advantage to the beneficiaries: the majority of the Caribbean populace as it creates direct contact between Influencer's regionally and solidifies inter-regional relationships and trade in services and products externally.



This is the first of Red Mango's blogs on the Luxury Apartment market in the Caribbean. Stay tuned for more!