Yields are lowish in Grenada
December 08, 2005
|Last Updated: Dec. 08, 2005|
|GRENADA - Houses||COST (US$)||YIELD (p.a.)||PRICE/SQ.M. (US$)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|100 sq. m.||375,000||1,500||4.80%||3,750||15.00|
|200 sq. m.||625,000||2,500||4.80%||3,125||12.50|
|300 sq. m.||893,000||3,500||4.70%||2,977||11.70|
|400 sq. m.||1,400.00||4,750||4.07%||3,500||11.90|
|500 sq. m.||1,997,000||5,000||3.00%||3,994||10.00|
|Source: Global Property Guide|
In general, yields are around 4.3% for properties in Grenada's coastal areas, the center of the rental market.
An average 200 sq. m. house bought at around US$600,000 can be leased for approximately US$2,500 a month. This would generate an income of US$30,000, 4.8% of the property's value.
Bigger properties produce lower yields.
Rents in the islands are predominantly seasonal but this figure is for long-term leases.