Cayman Islands investment: Market Overview

www.crownacquisitionsworldwide.com

Little Cayman

In Little Cayman raw land has been the big seller so far this year. It appears more and more people are seeing the appeal and value of owning a piece of this tranquil paradise.

Although condo sales have slowed in Little Cayman, land has shown an increase over previous years with beachfront lots and inland parcels changing hands. Prices are still relatively low compared to other destinations and people are beginning to realize that will not last forever.

There are a number of houses currently under construction on Little Cayman and the local builders are getting new projects going as soon as one is finished.

Cayman Brac

Raw land has also been the top seller in Cayman Brac this year with the double incentives of having the stamp duty waived if you build within two years of purchase and also the duty free building supplies.

The ‘bluff’ on Cayman Brac is still in demand as interest continues to grow in this high elevation stronghold. With direct flights from Miami later in the year – now is the time to buy before this mostly undiscovered gem of an island becomes better known.

Overall

Prices are increasing for land purchasers in the Cayman Islands. We are seeing prices rise as much as 25% per foot on ocean front pieces of raw land and altogether prices are up about 10% from this time last year. Little Cayman is growing in popularity and word is spreading about this relatively untouched paradise. The Cayman Brac market has been experiencing an upswing…interest in ‘bluff’ edge lots and acreage has soured to the point that most ‘bluff’ edge lots have now been sold and now most available edge lots are re-sales. With the increase in ‘bluff’ activity, there has also been notable interest in the still very affordable ocean front property and inland parcels.