Whether stepping foot on Canouan for the first time or catching a glimpse of its lush Mount Royal peak and upscale coastal surroundings, the island exudes an unmistakable aura of luxury.
Compared to its counterparts in St. Vincent and the Grenadines, such as Mustique and Bequia—often regarded as playgrounds for millionaires—Canouan stands out as a true haven for billionaires.
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“The island has so many unique things going for it,” says Quirin Schaedle (locally known as King King), director and owner of the real estate agency Real Grenadines. “Outside of St. Vincent, Canouan is the only other island with a jetport, and it boasts the only marina in St. Vincent and the Grenadines. In fact, you can arrive via jet and be on a private yacht, or vice versa, in five minutes.”
Schaedle, a veteran in the local real estate market with over two decades of experience, describes the island as being “two-thirds private,” consisting of vast villas and estates, and one-third with more accessible real estate opportunities for those with a relatively “modest” budget.
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The island’s population of approximately 2,000 primarily resides near Charlestown on the southern tip of the roughly 3.2 square-mile island. The southwestern tip hosts the jetport and the nearby marina, Sandy Lane Yacht Club, and Residences.
Schaedle points out that the northern part of the island is where most private villa opportunities exist, with entry prices starting around $8 million. Reflecting the luxurious vibe of this area are two renowned resorts, the Mandarin Oriental and Canouan Estate Resort & Villas.
“Right now, we are just beginning to see a rise in interest as much of the Grenadine islands remain relatively undeveloped compared to other parts of the Caribbean and busier tourist and investment destinations like the Mediterranean,” Schaedle explains. “For those looking to buy, if you don’t act now, prices could easily double in at least five years.”
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Crucial to any real estate purchase in Canouan is an understanding of its legal intricacies. Non-citizens must obtain an Alien Land Holding License, a process that can take two to three months. Typical fees include a 5% “Stamp Duty” on the purchase price, 1-2% in legal fees, and annual property taxes.
“As with most Caribbean transactions, having a good lawyer is very important,” Schaedle emphasizes. “I’ve seen transactions close within two to three months, while others take over six months, depending on various factors such as the chosen lawyer. At the end of any transaction, paradise awaits. It is very special here.”
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