News

Sales of High end property increase US Housing on the up Hotel Investments in Grand Cayman Watercolours update

Few sea front properties still available, act now before prices increase. Cayman Islands, a great place to live and raise a family.

Cuba still an emerging market.

The Cayman Islands Seven Mile Beach has been designated the worlds top beach vacation spot by the U.S. News & World Report.

Demand for canal front lots in Grand Cayman increase with immigration law changes. Commercial and retail plazas along West Bay Road – Seven Mile Beach stretch nears 100% capacity.

Following our analysis in the previous two months of the types of properties available on the Seven Mile Beach corridor, split by price range, this month I want to focus on high end single residential property and why I believe right now the environment is conducive for us to see greater movement in this area of the market.

As we transition into the new year, I am excited at the prospects for Caymans real estate industry for the coming twelve months because we will be building on an already strong product that just looks to strengthen even further in 2016.

The recently released IRR Viewpoint Caribbean Market Update 2016 Annual Report, written by James V. Andrews of Integra Realty Resources Caribbean, highlights some interesting discussion points when it comes to the state of Caribbean economies, especially in relation to real estate.

As recently as October 2015 I wrote how I saw the $2 million plus area of the residential homes market as remaining a difficult one for buyers to sell their properties in the short term. These properties are not moving anywhere near to the degree of other inventory, I wrote. Indeed, only ten homes of $3 million and above had been sold over the past three years. However, I also noted that I felt the market was about to change: Going forward, however, I see this becoming less of an issue. This is because desirable parcels of land are becoming increasingly less available. I went on to say that I believe as a result there will be a shift in the coming months and properties in the $2.5 million region will become a lot more appealing.

The total investments of non-residents in local financial assets was estimated at $119.3 billion by the end of 2014, according to a new report from the Economic and Statistics Office.