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GRENADA

REALEST ATE SAL ESMARKET QUARTER1-QUARTER3,2020


GRENADAREALEST ATESAL ESMARKET QUARTER1-QUARTER3,2020 CONTRI BUT ORS:Kar eem Adams&L i v onneChar l es Weha v ebr o k e ndo wnt her e a l e s t a t es a l e sma r k e tf o rGr e n a daf o rQ1Q3o f 2020a ndma dec o mpa r i s o nswi t h2019s a l e swi t hi nt hes a me pe r i o dt oe x a mi net het o t a l nu mbe ra ndv a l u eo f s a l et r a ns a c t i o ns , s a l e spe r f o r ma nc ebypa r i s ha ndbypr i mer e s i de nt i a l ne i g hbo r ho o ds . Weha v ea l s or e v i e we dnu mbe ra ndv a l u eo f s a l e sbypr o pe r t yt y pe sa ndc l a s s i f i c a t i o ns .

I ts ho u l dbeno t e dt ha ts o mes a l e swe r er e mo v e df r o mt heda t aa n a l y s i sbe l o wa st he ya r epr e do mi n a nt l yr e l a t e dt oC i t i z e ns hi pbyI nv e s t me nt ; ho we v e r , i ti si mpo r t a ntt ono t et he s es a l e s : 7s a l e si nQ1a tav a l u eo f E C$7, 076, 000;5s a l e si nQ2a tav a l u eo f E C$53, 627, 000( i nc l ude s t hes a l eo f l a r g ede v e l o pme nts i t e s ) , a nd7s a l e si nQ3a tav a l u eo f E C$6, 721, 000. Si mi l a rs a l e sf o r2019we r er e mo v e d, i f t he s et y pe so f s a l e swe r ei nc l ude di ne a c hy e a r , t heda t aa n a l y s i sa ndc o nc l u s i o nswo u l df o l l o ws i mi l a rt r e ndsi nt hi si ns t a nc e .

NumberofSal eT r ans ac t i ons

Val ueofSal eT r ans ac t i ons

•398s al et r ans ac t i onsr egi s t er edf orQ1–Q3of2020. •30% dec r easewhenc ompar edt o2019f ort hes ameper i od. I ts houl dbenot edt hatduet ot heout br eakoft heNov elCor onav i r us ( COVI D19)i nMar c h,sev er alof f i c esandbus i nes swer ef or c edt oc l ose, asar es ul tt her ewasas i gni f i c antr educ t i oni nt henumberofs al esf or Q2andQ3of2020duet os al esnotbeenabl et or egi s t er ed/ c l osed.

19% 81%

•Vac antl andc ont i nuest odomi nat et her eales t at emar ketwi t h81% of t het ot alnumbers al esr egi s t er ed( 323l ands al esf ort heper i od) . •T ot alnumberofl ands al esdec r easedby29% i n2020c ompar edt o2019. •T ot alnumberofi mpr ov edpr oper t ys al esdec r easedby34% i n2020 c ompar edt o2019. •80–20per c ent ages har eshav ebeenat r endf orsev er aly ear s.

2019

$35, 625, 000

$69, 412, 000

$34, 693, 000

Val ueofSal esbyPr oper t yT ype

2020

2019 2020

80%

$42, 789, 000

•T ot alv al ueofs al et r ans ac t i onsr egi s t er ed-EC$111, 741, 000( r d)of2020. •28% dec r easewhenc ompar edt o2019f ort hes ameper i od. •Sal ev al uef orQ12020wass i mi l art oQ12019;howev er ,Q2andQ32020 v al ueswer ec ons i der abl yl owerwhenc ompar edt ot hes ameper i odof2019 wher es al est r ans ac t i onswer emos tl i kel yaf f ec t edasar es ul tofCOVI D19. •Q2andQ3of2020-sev er alunc er t ai nt i eswi t hi nt hemar ket ;l onger mar ket i ngper i odsexpec t edt oac hi ev es al es.

NumberofSal esbyPr oper t yT ype 20%

$41, 424, 000

( Val ueperquar t er )

$41, 978, 000

( Vol umeperquar t er )

$81, 980, 000 $72, 199, 000

$56, 169, 000 $55, 572, 000

•Val ueofl ands al esc ompar edt ov al ueofbui l di ngs al esar es har edequal l y . •T ot alv al ueofl ands al esdec r easedby23% i n2020c ompar edt o2019. •T ot alv al ueofi mpr ov edpr oper t ys al esdec r easedby31% i n2020 c ompar edt o2019. •Thet ot alv al ueofi mpr ov edpr oper t ys al esi sus ual l yequalt oor mar gi nal l yhi ghert hant het ot alv al ueofl ands al es.


GRENADAREALEST ATESAL ESMARKET QUARTER1-QUARTER3,2020

Number&Val ueofT r ans ac t i onsbyPar i s h ( 2020c ompar edt o2019)

398

St .Pat r i c k

26Sal es 38% from 2019

St .Mar k

Car r i ac ou&Pet i t e Mar t i ni que

5Sal es 58% from 2019

33Sal es 10% from 2019

T ot alSal es

$4, 195, 000 21% from 2019

$171, 000 88% from 2019

$7, 604, 000 24% from 2019

EC$111, 741, 000

St .J ohn

T ot alVal ue

9Sal es 53% from 2019 $465, 000 33% from 2019

St .Andr ew

81Sal es 28% from 2019

•Appr ox i mat el y325( 82%)oft het ot alnumberofs al es wer ei nSt .Geor ge,St .Andr ewandSt .Dav i d.

$8, 380, 000 35% from 2019

•St .Geor geac c ount sf or189( 47%)oft het ot alnumber ofs al es.

St .Geor ge

189Sal es 29% from 2019 $77, 443, 000 29% from 2019

•Appr ox i mat el yEC$99mi l l i on( 89%)oft hev al ueof s al eswer ei nSt .Geor ge,St .Andr ewandSt .Dav i d. St .Dav i d

•St .Geor geac c ount sf orEC$77Mi l l i on( 69%)oft he t ot alv al ueofs al es.

$13, 433, 000 27% from 2019

•Al t houghSt .Andr ewhasagr eat ernumberofs al es t hanSt .Dav i d,t het ot alv al ueofs al esi nSt .Dav i di s hi gher .

55Sal es 34% from 2019

•Ther ewasadec r easei nt henumberandv al ueofs al es i nal lpar i s hesex c eptf orCar r i ac ou&Pet i t eMar t i ni que, whi c hhadamar gi nali nc r ease,whenc ompar edt o2019 f ort hes ameper i od. •St .Geor ge,St .Andr ewandSt .Dav i dc ont i nuest obe t het opper f or mi ngpar i s hesi nbot hs al esandv al ue.

2019

2019 2020

NumberofI mpr ov edPr oper t y T r ans ac t i onsbyPr i c eRange

2020

NumberofL andT r ans ac t i ons byPr i c eRange

L ands al esl es st hanorequalt oEC$200Kc ont i nuest oac hi ev et he hi gherper c ent ages har eat81% oft het ot alnumberoft r ans ac t i ons, ast hel ar gerpopul at i onc anaf f or dl andwi t hi nt hi spr i c er ange.

I mpr ov edpr oper t ys al el es st hanorequalt oEC$500Khasac c ount ed f or49% oft het ot alnumberoft r ans ac t i ons.Pr oper t i esl i s t edwi t hi n t hesepr i c ebr ac ket sus ual l yr equi r eas hor t ermar ket i ngper i odt han t hehi gherpr i c ebr ac ket s,ast her ei sagr eat erdemandf ors uc h pr oper t i es.


GRENADAREALEST ATESAL ESMARKET QUARTER1-QUARTER3,2020

Pr i meRes i dent i alNei ghbour hoodSal es ( Q1-Q3,2020)

F or tJ eudy

L anc eAuxEpi nes

6Sal es EC$3, 685, 000

8Sal es EC$11, 809, 000

-4 -2

-3 -4 -1

West er hal lPoi nt

34Sal es

2Sal es EC$1, 687, 000

-2

Mor neRouge 1Sal e EC$645, 000

$35, 223, 000

-1

NewWest er hal lPoi nt 3Sal es EC$910, 000

T r ueBl ue

-2 -1

KEY

4Sal es EC$13, 533, 000

Egmont&Pet i tCal i v i gny 9Sal es EC$2, 861, 000

-8 -1

Cal i v i gnyGar dens

-2 -1 -1

1Sal e EC$94, 000

-1

NumberofT r ans ac t i onsbyCl as s i f i c at i on NumberofL andT r ans ac t i onsbyCl as s i f i c at i ons •Res i dent i alpr oper t ys al esr ec or dedt hemos t t r ans ac t i onsat91% oft het ot alnumbers al es t r ans ac t i ons,f ol l owedbyc ommer c i alpr oper t i es at5% andagr i c ul t ur epr oper t i esat4%. •Ther ewasas i gni f i c antr educ t i oni nagr i c ul t ur al s al eswhenc ompar edt o2019f ort hes ameper i od.

NumberofI mpr ov edPr oper t i esT r ans ac t i onsbyCl as s i f i c at i ons

•Ther ewasani nc r easei nc ommer c i als al eswhen c ompar edt o2019f ort hes ameper i od. •80% oft henumberofc ommer c i als al esr egi s t er ed oc c ur r edwi t hi nt hepar i s hofSt .Geor ge.

NOTE:Thedat aus edf ort hi sanal ys i swast akenf r om t hel oc alr egi s t r yanddat esoft het r ans ac t i onsar et hedoc ument eddat es( dat et hec onv eyanc ewas r egi s t er edandnott hedat et het r ans ac t i ont ookpl ac e)ass uc ht her emaybes omev ar i at i onbet weent heac t ualc l os i ngdat eandr egi s t r at i onoft he c onv eyanc e.I ts houl dbenot edt hats omes al eswer er emov edf r om t hi sanal ys i sast heymays kewt her es ul t sf ort hatgi v enper i od.Thes e t r ans ac t i onshappenf r om t i met ot i mebutar enotannualoc c ur r enc esandar enots ol el yr eales t at et r ans ac t i onss uc hasCBISal es . *Al lv al uesnot edar ei nECDol l ar sandr oundedt ot henear es tt hous and



CONTRI BUTORS:

K a r e e mAda ms V a l u a t i o n sT e c hn i c i a n

L i v o n n eC h a r l e s C hi e f Ope r a t i n gOf f i c e r

Uppe rF l o o r , Spi c e l a n dMa l l Mo r n eR o u g e , St . Ge o r g e Gr e n a da T e l : ( 473) 4393993 www. t e r r a c a r i bbe a n . c o m


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