The latest data from luxury real estate brokerage Provenance Properties paints a mixed picture of Cayman’s condo market in the first quarter of 2026.
Starting with the strong data, condominium prices rose by 10% in Q1 2026, compared to 2025 levels. The total value of sales was also up, standing at US$295 million the first quarter of this year, up from US$268 million in the same period the year before, even though the overall number of transactions fell to 190 from 199.
This was the highest first-quarter figure recorded in Provenance Properties’ reports and the second-highest quarterly total. These figures only refer to deals carried out by realtors affiliated to the Cayman Islands Real Estate Brokers Association.
Cayman has several property market trackers and reports, including the Lands and Survey Department’s Residential Property Price Index. There is often a difference in figures reported due to differing methodologies and the difficulty of capturing sufficient data in Cayman’s small real-estate market.
“This estimate is directional, given limited early-year data,” said the Provenance Properties report. “However, there is precedent for reliability as the Q1 2025 estimate was within 1% of the final full-year figure. A clearer trend should emerge by the end of the second quarter, as more transactions are recorded by Lands and Survey.”
A mixed market
One factor supporting prices is limited inventory at the lower end of the market, with Provenance Properties noting that “new supply is slightly below Q1 2025 levels”. The tighter supply was reflected in the rising sales-to-listings ratio – a metric that compares completed deals against the number of condos available.
But while prices rose, rents were flat – rising just 1% in the first quarter of 2026 – compared to the same period the year before. “The slowing trend of rental increases may be correlated with the moderation of work permits and the resulting deceleration of population growth,” said the report.
The combination of rising prices and broadly flat rents meant that yields fell, with the average yield recorded at 5.39% in Q1 2026. The average yield for a condominium in Cayman has not been above 6% since 2020.
“The Cayman Islands property market presented a more mixed outlook this quarter, with differing performance between the sales and rental sectors,” said the report.
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