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Topic: Re/Max Cayman Islands
By the end of this year the Government will close the loophole in the law that allows buyers to only pay stamp duty on the cost of the land on which their property will be built, should construction not yet have started and not again later on once the property has been completed (the so-called two-contract transaction).
The recent Royal Institution of Chartered Surveyors’ Cayman Property and Construction Conference had some interesting points for discussion, especially the plans to revitalise the centre of George Town, to which I would like to add my own perspective.
At the moment, real estate agents find themselves in a bizarre situation: they are missing inventory on Seven Mile Beach.
In a market that is currently seeing a great deal of activity, the sale pricing of US$2 million and above private homes or condominiums predominantly in the Seven Mile Beach corridor (West Bay to north George Town), is one that I would like to concentrate on in this update.
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.
In the first two months of sales, Grand Hyatt Grand Cayman Residences reached $45 million in property sales, according to the developer.
Parts of the Caribbean impacted by the devastating hurricane season of 2017 are currently undergoing tremendous change as they rebuild their tourism and real estate products.
RE/MAX Cayman Islands received three of the top international awards at this year’s R4 convention, which took place in Las Vegas from Feb. 26 through March 1.
It appears that 2017 was probably one of the strongest years we have ever had in the real estate industry. Indeed, the past two years have seen an extremely strong and active market with high demand and slowing inventory.
For many months I have been writing about the changing tide when it comes to buying Seven Mile Beach properties, reminding prospective buyers that prices are rising and the volume of inventory is diminishing quickly.
The real estate company RE/MAX Cayman Islands will be hosting a free kids and family event on Saturday from 3-7 p.m. at the Black Pearl Skate Park in Grand Harbour.
In light of the recent Category 5 hurricanes the Caribbean has had to endure, 13 years to the day since the Cayman Islands suffered at the hands of its own worst hurricane in living memory, Hurricane Ivan, I thought it would be useful to take a look at what we have learned from our experiences and, more worryingly, what we have not learned.
I’d like to focus my update this month on a particularly interesting area of the market, that of the high-end residential home, i.e., those in the $3 million bracket and higher (with no price limit). This area of the market has seen slight variances in recent years.
Tower, a strategic communications agency, recently added two Caymanian students, Parker Godwin and Stefan Langlois, to its team as summer interns. Mr. Godwin, 21, is a senior at the University of South Alabama, where he is double majoring in marketing and management.
In the Cayman Islands, the question as to where the oceanfront land you have purchased actually begins as your own (and thereby is land on which you can build) is governed by the Development and Planning Regulations 2017.
More than 100 foreclosed properties were sold in the Cayman Islands in 2016, the second year in succession that forced sales have reached three figures. The statistics for 2016 reflect a marginal drop on 2015, though both years saw far higher numbers of foreclosure sales than at any time in recent memory.
RE/MAX Cayman Islands will be promoting the 2016 MOvember charity event by stickering mustaches on its sale and promotional signs, which are located throughout the island.
RE/MAX broker James Bovell launches new brand and team; Guernsey law firm AO Hall joins Walkers; Aon wins top honors at 2016 Trading Risk Awards and more.
Harneys hires litigation partner in Hong Kong; RE/MAX to sponsor Flowers Sea Swim for five years; Appleby adds investment funds partner and more.
The consensus appears unanimous: Real estate brokers say things are great, and anyone checking out the market must agree that they are.