The latest data from the Lands and Survey Department’s Residential Property Price Index showed that West Bay condo prices rose by 12.1% in 2025. West Bay’s performance stood out in a cooling market for condominiums in Cayman.
Prices in George Town rose by 1.4%, while prices in the other Cayman Islands rose by just 0.9%. Seven Mile Beach, so often the star of the Cayman property market, saw prices fall by 11% in 2025. That dragged down the overall performance of the Cayman condo market, which dropped 1.4% over the year.
The decline in prices for Seven Mile Beach properties didn’t mean a reduction at all price points.
The “reported 11% decline on Seven Mile Beach is not something we are seeing in transactional evidence”, said Kristy Rivers, senior vice president, sales and leasing at Provenance Properties. “Rather, it appears consistent with a shift in the mix of properties sold between 2024 and 2025, reflected in the reduction in average sale prices from approximately US$3.3 million to US$2.9 million. This points to an increase in activity at the lower end of the market, rather than a structural change in pricing trends.”
Likewise, Rivers doesn’t see an overall drop in the market. “In 2025, we observed a normalisation of condominium price growth across the Cayman Islands, with values increasing in the low single digits, while the Lands and Survey Department’s RPPI indicates a marginal overall decline.”
Tracking Cayman’s property market
Rivers, who bases her market view on Provenance Properties’ market activity plus inhouse data from Dart, believes some discrepancy between property price tracking models is understandable, citing “the inherent challenges of measuring property prices at scale.” However, she welcomed the RPPI data, noting that “we view the index as directionally informative”.
The Residential Property Price Index was launched by the government in September 2025. It only looks at condos – not houses or commercial property – and the data is based on transactions reported to the department. Some Cayman-based property analysts doubt there are enough condo transactions in the islands for an index to form a reliable indicator of market trends.
Editor’s Note: The Cayman Compass is a subsidiary of Dart Media and Entertainment.
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