Buying cheap luxury real estate listings directly from the owner in Grenada is a matter of perspective on what the purchaser or investor perceives as 'cheap'. The desired objective though can be possible with the right strategy.
"Cheap real estate" in luxury market doesn't always mean a low price, as a 'luxury property' that is undervalued for the current real estate market place status can be seen as being cheap.
A $1M home might be "cheap" compared to others at $2M that are located in Grenada, but the price difference for what seems to be very similar properties could be for a wide range of reasons.
If the luxury property has become distressed or foreclosed they are often sold below market value and at time through auctions. Or it could be the seller, for personal reasons like a job relocation has special reasons for letting the property be sold at a very low rate.
In emerging luxury markets luxury could be listed as undervalued in relation to future expectations, for areas such as growing neighborhoods in cities that are becoming popular, like those with infrastructure improvements or tourism growth.
Luxury buyers often have leverage as they have the financial means to purchase, especially in slow markets where borrowing from a bank is harder.
Properties bought below market value in luxury areas, especially when looking at Grenada real estate listings by owner which can be cheaper than via an agent often see strong appreciation when the market recovers or the area gentrifies.
Economic or political fluctuations can temporarily depress prices, allowing investors to acquire premium assets at a cheaper rate.
In Grenada there is a very strong rental income potential as this location is sought after by high-net-worth individuals seeking this vacation destination.
In Grenada there are tax advantages, no income tax, property, or capital gains taxes for property owners. The U.S. dollar is the official currency, which adds financial stability for North American and international investors.
