Real Estate Newsletter
Cayman Real Estate News
NCB Group’s joint venture with Dart Real Estate, OLEA, received the Five-Star Award for Best Sustainable Residential Development at the USA and Americas Property Awards, held at the Fairmont Royal York hotel in Toronto,...
Provenance Properties Cayman Islands’ Sales Executive Ruth Gustafsson was featured on an episode of HGTV’s television show, House Hunters International. This episode, filmed in the Cayman Islands in February 2019, featured a New Jersey couple seeking a property in Cayman.
Last year was the best on record for the Cayman Islands property market with more than $800 million in total sales, according to a review by surveyors Charterland.
The Cayman Islands is a successful and well-known offshore financial center, as well as a popular tourism hot spot, but economic growth in recent years has been driven by an entirely different industry: construction.
At the time of writing, the U.S. economy is anticipating another interest rate hike (predicted to happen before the end of the year), with two more expected in 2019.
The first six months of this year have just closed, so I thought it would be a good point in time to reflect on how the market has progressed in 2018 so far, while at the same time offering readers a glimpse into what’s moving and shaking the real estate industry in the months ahead.
While not new to Cayman’s market, it has evolved into being much more service based as visitors want larger places and more services in many aspects.
Is over-supply on the horizon? This is one question that I’m being asked with increasing frequency by investors based overseas, as people take in the scale of development currently happening in Grand Cayman.
As I have discussed in these updates over the years, tourism and the real estate industry are closely interlinked in the Cayman Islands, as tourism brings in new visitors to the island who frequently then fall in love with the islands and decide to buy a second home here.
A new beachfront “healing resort” featuring dome-shaped guest villas is planned for the old Mariners Cove site in Prospect, which was swept away during Hurricane Ivan.
Realtors are pointing to the US$12.5 million sale of the seven-bedroom Coconut Walk residence in West Bay as the most lucrative in Cayman Islands’ history, outpacing the previous $7.9 million record.
The outlook for the market in the Cayman Islands still looks positive for 2017 and onward, according to a report this week from the Cayman Islands Real Estate Brokers Association. “The rental market is growing along with the population of the islands."
Happy New Year! I would like to begin my updates this year with an over-arching look at the current state of Cayman’s real estate market. We begin this new year buoyed by the successful performance over the past 12 months of Cayman Islands real estate, which has strengthened significantly in most areas.
A U.K. pension administrator is suing Crown Acquisitions Worldwide, alleging the real estate developer took its money for several land lots in a Little Cayman subdivision and failed to transfer the land or get plans approved for homes.
As Cayman’s first 10-story buildings opened on Seven Mile Beach on Tuesday, Opposition Leader McKeeva Bush called for developers to be allowed to build higher.
Whether it’s the four-star Kimpton, the three-star Margaritaville or possibly even the five-star Four Seasons brand, new brands launching in the Cayman Islands and entering our marketplace are all very good news for Cayman’s real estate industry. In addition, broadening our brand offering when it comes to new resorts is very important for the islands as a whole, for a number of reasons.
This month I thought I would focus on a particularly interesting sector of the market, that of canal-front or canal-view homes and lots.
Regular readers of my monthly updates will know that we like to periodically take an overview of the statistics produced by CIREBA, the Cayman Islands Real Estate Brokers Association, the entity charged with overseeing Cayman’s real estate industry. These statistics, especially when viewed within a historical context, always make for interesting reading and point to current market trends.
It’s very simple: The real estate industry benefits from those who become permanent residents.
The widow of Grand Harbour developer Mike Bell has outlined plans to fulfill his dream to complete a major residential, retail and restaurant development at the site.
Government officials are going after millions of dollars in unpaid taxes on rental properties.
The “Panama Papers” episode has brought into sharp focus the need for the Cayman Islands to up the ante when it comes to promoting exactly why this jurisdiction is so successful as far as financial services are concerned.
In a rare court ruling concerning a planning dispute over a proposed apartment development along Grand Cayman’s Seven Mile Beach, a Grand Court judge has questioned planning regulations that, heretofore, have allowed for the development of structures higher than seven stories in hotel/tourism zones.
The recently released IRR Viewpoint Caribbean Market Update 2016 Annual Report highlights some interesting discussion points when it comes to the state of Caribbean economies, especially in relation to real estate.
The consensus appears unanimous: Real estate brokers say things are great, and anyone checking out the market must agree that they are.
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.
This month I thought it would be a useful exercise to highlight all the new construction and development projects that are taking place across the Cayman Islands, emphasizing the fact that Cayman’s economy is currently in a very positive growth period.
The governor, on the recommendation of Cabinet, has proposed to vest 280 acres of Crown property, currently under a long-term lease, that was once part of the project plans for SafeHaven and Dragon Bay to an affiliate of Dart Realty.
The grand opening of a new Class A office building at Camana Bay, called 18 Forum Lane, was celebrated with a reception and ribbon-cutting ceremony Wednesday night.