Market Intelligence
Guyana

Guyana Real Estate

U.S. companies should know that the real estate market in Guyana is developing rapidly, with increasing demand for commercial, residential, and industrial properties. Prices vary significantly depending on the location, with prime areas such as Georgetown being much more expensive. There is ample availability of land, particularly in rural and semi-urban areas. However, securing prime urban land can be competitive and costly. Unlike some countries, foreign individuals/companies can own land in Guyana.

Transactions for private land are conducted through direct negotiation with landowners where title verification and due diligence are crucial. When considering land that is state-owned, the Guyana Lands and Surveys Commission (GLSC) is the land management authority which oversees the lease or purchase of state land for agricultural, industrial, or commercial purposes.

Acquisition Process

For state-owned land, one must apply to GLSC with a business proposal and land use plan copied to the Guyana Office for Investment (GOInvest). GLSC and GOInvest will review and process the application, after which a lease or purchase agreement is executed.

For private land, it is critical to conduct title verification.  This can be done by engaging a local attorney for title search and to ensure compliance with local laws.  Negotiation, purchase agreement, and registration follow.

Building Approval

The Central Housing and Planning Authority (CHPA) administers oversight for urban planning and is the primary body responsible for granting building permits for buildings more than three stories high.  For large-scale projects, environmental clearance from the Environmental Protection Agency (EPA) is required.

Local councils/municipal authorities called Neighborhood Democratic Council (NDC) or Mayor and City Council (M&CC) typically must authorize building approvals for buildings up to three stories within their respective jurisdictions.

A developer is required to present a building plan for approval to either the local NDC or M&CC including:

  • The purpose for which the building is intended to be used;
  • An ink drawing paper or trace lines of good quality to scale of not less than one inch to every eight feet;
  • The ground position and outline of the new building, the elevation and dimension thereof and the distance of the walls from the boundary lines of the land on which it is proposed to erect the same and from every other building or erection on that land and, in the case of a new building of several stories thereof;
  • The position and dimension of every water closet, gully, drain or other house connection on the land;

Before a plan is approved, the City Engineer will check the plan to ensure that it is consistent with the building by-laws.

The prospective builder is required to submit to the City Engineer’s Department the
following:

  • Three (3) copies of a building plan;
  • Certified copies of the ownership (Transport, Title, and Lease);
  • Current general rates receipt;
  • Geo-technical and design report;
  • A processing fee of US$25 payable to the City Treasure’s Department.

It should be noted that the City Engineer’s Department under the MCC is not the only entity that checks plans for conformity. If the construction falls within a sewage area, the Guyana Water Inc. has a critical role in ensuring that the construction does not compromise sewage chambers located within the specific site. Also, if the building is to be used for commercial purposes the Central Housing and Planning Authority is responsible for providing land use clearance.

Building Permit Application Process

The Government of Guyana recently introduced the Single Window Application System (SWAS) in late 2023.  SWAS integrates various regulatory and approval processes into one online platform, significantly reducing the time and complexity involved in building approvals.  Benefits include a single point of entry for all planning and development applications, consolidation of all requirements and fees.

In the absence of consistent zoning mechanism, SWAS has a feature which allows an investor/company to submit a pre-application to establish suitability of development within seven days in the area being considered for purchase. Upon submission of all documents and the application, developers can monitor their progress in real time with a notification of submission and approval within 30 – 45 days depending on the complexity of the project.

Legislative changes also incorporate a Planning Appeals Tribunal for an appeal process if needed.

For more information on the real estate market in Guyana, please contact Amanda Edmondson Commercial Specialist, Georgetown, Guyana at Amanda.Edmondson@trade.gov. 

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