Over the last 25 years the Cayman Islands market has been one of consistency. It has had it’s ups and downs, but its volatility had been predominately on individual properties versus the whole market. Foreign investors and purchaser’s of vacation homes are generally looking for longer term investments on one of the three islands.
In recent years we had major activities take place within the infrastructure with the addition of three schools being committed to. Huge investments have been made to the road infrastructure, improving access throughout the island by adding by-passes towards West Bay and East End.
Several fine-dining restaurants including ‘Luca’ at the Caribbean Club added to the diversity in the restaurant culture of Grand Cayman.
Commercial properties have also seen a boast of activity mainly brought by the development of Camana Bay, which is a planed town with over 300,000 sq.ft. of office space and many retail facilities. Phase one opened last year with commercial office space, a Multi Plex Cinema and an upscale bookstore. The Governor’s Square Shopping & Office complex is another newly opened commercial building.
On the Seven Mile Beach Corridor two main developments have been completed. The first one since 2004 is Water’s Edge closely followed by the Caribbean Club. Water’s Edge is presently of the highest standard on Seven Mile Beach with an unprecedented owner’s facility on the groundf with access out to the swimming pool and beach.
Presently there are three other developments on Seven Mile beach that are close to completion. The Renaissance which is located on the north end of Seven Mile Beach, The Beachcomber which replaces the Old Beachcomber and to the south is the South Bay Beach Club.
Several new and exciting high end projects are currently on sale as well.
- Watercolours – Probably the lastest w Seven Mile Beach condominium development for this decade with 300 feet of prime beach front. This luxurious development will have 3,600 to 3,700 square foot 3 BR/3.5 BA plus den and 4 BR/4.5 BA all beachfront residences from ground floor to the sixth floor. Facilities include an extravagant beachfront pool, beachfront owner’s lounge/conservatory, beachfront fitness facility, porte cochere, and lush tropical landscaping.
- The Residences at Beach Bay – These ultra-luxury residences are an enclave of 45 three BR/four BA villas in a private first-class beachfront setting with all the amenities of a sophisticated exclusive resort – spa, fitness center, restaurant, room service, tennis courts, beachfront pool and beach bar cabana, secluded beach area and more.
- The Island Resort and Residences – These world class developers have burst onto the scene with a unique chic resort based on the Condo-Tel concept. It combines ultra-luxury condominiums with 6 star hotel services and amenities. Located out in East End, these 93 residences will offer from 1 BR to 4 BR Penthouses. Features include 800 feet of pristine beach, 480 foot wide pool, spa, restaurants, and every other amenity conceivable.
- Ivory Sands – ultra-luxury, private beachfront condominiums in the very low density and exclusive community of Cayman Kai.
The Cayman Islands have just begun a resort and real estate boom that is unprecedented. Returns on investments over the next several years will rival anywhere else in the world.