Cayman real estate can benefit from quarantine rules

Buying & Selling, Featured, News

In the Cayman Islands we have had strict quarantine rules in place for incoming travellers since the pandemic first hit in March 2020. From September 2020 people could elect to quarantine at a location of their choice other than the Government-run hotel locations, provided that the premises had been cleared for quarantine use by the Travel Cayman team.

Cayman real estate and quarantine

With respect to real estate, an interesting development in the issue of ‘Quarantine At Residence’ is that I have found incoming travellers to the Cayman Islands have expressed a preference for spending their 15 days in quarantine at a location other than at the beach.

Real estate on Seven Mile Beach, normally top on the list for any traveler to these islands, is now not the top spot for quarantine, because the type of location found there, i.e. a condominium with a communal garden, does not give people, especially those with families, the space they desire to ride out the 15 days in strict isolation. Instead, they are seeking somewhere with a decent view, a luxury home, preferably of the ocean or canal, with three to four bedrooms and ideally with a pool and with sufficient garden in which to stretch their legs.

They then tend to move on to the traditional Seven Mile Beach condo after they have successfully completed their 15 days quarantine.

The interesting fact is that these travellers do not mind where they do their quarantine, which means that the entire island opens up to them in terms of where they choose to stay and, of course, rent, for the 15 days they are in quarantine.

Real estate in East End, North Side, Bodden Town and Savannah all become interesting possibilities for people seeking a spacious, luxury family home with a view for 15 days.

This means that people with real estate investment in property in such locations, whether that is a spacious family home on a canal location or a cottage overlooking the ocean in the Eastern districts, can most definitely benefit from the rental income that such incoming travellers are undoubtedly bringing into Cayman.

It is apparently now highly unlikely that Cayman will be opening up any time soon, according to media reports, which quote the Premier as saying it is unlikely that we will open our borders until 90 per cent of Cayman’s elderly population has been vaccinated, although he anticipated Cayman enjoying a relatively normal high season by the end of 2021/beginning of 2022.

This means many more months of closed borders for Cayman and many more months of the necessity to quarantine for anyone looking to visit in the near to medium term. This also therefore means great opportunities for property owners wishing to gain rental income in the meantime.

Cayman’s broader appeal revealed

One of the great benefits of exposing incoming people to the island to locations around Grand Cayman other than the traditional Seven Mile Beach corridor is that they get to appreciate the parts of the island in all its beauty that they would not necessarily see or enjoy, if they were to spend a vacation just within the Seven Mile corridor, as is the case with many visitors.

There are so many more aspects to Grand Cayman than purely the Seven Mile Beach area, from the sweeping views of the ocean at Bodden Town and East End to the natural beauty of the island’s interior to the quaint cottages and peace and tranquility of East End and North Side.

There are so many aspects to the island away from Seven Mile beach that visitors may not have experienced, so a stay away from the busier parts of the island might then influence their decision if they were to then decide to purchase a property. This then creates a multitude of possibilities when it comes opening up the entire island to development and sets up a truly dynamic and exciting real estate market for the years to come.

Learn how you can move to the Cayman islands here.