More Cayman's Housing Crisis Stories
As a scenic coastal community with a thriving economy underpinned by financial services, the island of Jersey has much in common with Cayman. Despite a totally different approach to real estate regulation, the similarities extend to a major affordable housing problem.
Cayman's open property market means there are theoretically 8 billion potential buyers for any home that goes on sale in the territory. Opinion is divided over whether restrictions would help make housing more affordable.
Joint venture partnerships between developers and government could be a means to help create low-cost housing in the Cayman Islands.
Young people don't see a path to home ownership in Cayman writes guest columnist Aleigha General.
The second phase of the Downtown Reach development sold out in two weeks, signifying high demand for affordable homes.
House prices in some neighbourhoods have almost tripled in the past five years, according to data reviewed by the Cayman Compass.
Young professionals in Cayman fear they are being priced out of the property market and may never have the chance to own a home in their own country.
The limited number of affordable homes for sale in the Cayman Islands has been a longstanding concern in the community, according to Cayman Islands Real Estate Brokers Association president Brian Wight.
Over the next six weeks, the Cayman Compass will be taking a detailed look at the complex, multi-faceted problems surrounding the most basic need of everyone who calls these islands home.