News

The Cayman Islands is better positioned to police terrorism financing than the U.S., an American congressional subcommittee heard Wednesday.

A second pier project, proposed for George Town harbor, “will not compete” with government’s project to build cruise berthing facilities, according to Deputy Premier Moses Kirkconnell. A coastal works and dredging application was filed this week on behalf of Balboa Cruise Terminals for a “single

As published in the Caymanian Compass l FRIDAY 3 MAY 2013 l Winning artwork submitted to the annual RE/MAX Art Competition will grace the pages of the Chamber magazine. Students who entered their work were awarded their prizes recently at the George Town Yacht Club

The Brokers and Agents at REMAX have made a donation to the Kiwanis Club of Grand Caymans Buy a Kid Breakfast Programme as part of our ongoing commitment to community service.

Cayman Islands Central Planning Board approve renovations of the iconic old Hyatt hotel, Grand Cayman, Cayman Islands.

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.

Cruise ship passengers still will not be able to gamble within Cayman Islands territorial waters next year, but gambling will be allowed on ships flying the Cayman Islands flag for the first time.

The higher end of Caymans real estate industry has traditionally catered to an affluent North American market of investors and individuals looking to acquire a second or possibly third home, for investment purposes but also to enjoy with their family and friends periodically. Opening up this market to a broader audience of investors via infrastructure improvements and the easing and improving of residency restrictions for people looking to reside here part or full-time could greatly improve Caymans real estate industry. This would ultimately be to the benefit of everyone who lives and works here. Creating an easier and more straightforward method by which residents can enter and leave Cayman would go a long way to attracting new investors to our shores.