Cayman Islands Real Estate
The Cayman Islands Real Estate Industry is one of the biggest economic drivers of Cayman’s economy, with $992 Million dollars in sales in 2022. There is currently a continued surge of demand for luxury residential properties. Based on official sold figures released by CIREBA (Cayman Islands Real Estate Brokers Association), the total sales on Seven Mile Beach alone in 2022 was US$ 157,091,788. This is averaging US$ 3.1 Million dollars per unit, a 15% increase from 2021 market prices. With sales almost to a billion dollars despite being just after the pandemic, we are confident that the Cayman real estate market will continue to sustain its current trajectory, especially for high-net individuals looking to invest in luxury real estate.
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The Cayman Islands has all the necessities of urban living discreetly embedded amidst the dreamlike sceneries of a tropical paradise. You can work, study, play, and basically enjoy a full and active lifestyle. As an autonomous British Overseas Territory, the Cayman Islands has long been regarded as a significant investment hub for key players in international banking and finance, mostly due to its flourishing tax-neutral economy. Thus, the Cayman Islands consistently ranks high on the world GDP index and is known for the most exceptional quality of life anywhere in the Caribbean. Aside from its multiple business-friendly policies, there is also zero taxation on income, property, real estate, or corporate investments. On top of this, there are no laws that restrict foreign ownership of real estate, making the islands a popular choice for non-resident buyers and creating a global demand for Cayman
Where to start looking?
Grand Cayman is the largest of the three Cayman Islands. It is where 95% of the entire population reside — mostly within the territory’s capital, George Town. Aside from George Town, which is the center of business and everyday life, the more popular locations for choice Cayman Islands real estate include Seven Mile Beach and Cayman Kai/ Rum Point. Living next to one of the best beaches in the world definitely makes Seven Mile Beach a prime location for luxury real estate on Grand Cayman. Beyond the pristine shoreline, Seven Mile Beach condominiums are set amidst a lively and vivacious environment that offers a wide variety of options for dining, shopping, and nightlife, adding more value to this highly coveted location. developments. Read More…
Meanwhile, those in search of greater exclusivity and a more subdued atmosphere are likely to fall for the subtle allure of Cayman Kai and Rum Point. Quietly tucked along the northern end of the Grand Cayman, an enclave of enchanting houses and captivating villas line these private beach side communities, allowing homeowners to enjoy sun, sea, and sand in blissful solitude. These are but a few of over a dozen choice residential communities ERA Cayman Islands can help you explore as your trusted real estate advisor. You can also check out our Buyers Guide for quick tips on how to get you started.
Personal Service, Professional Expertise:
At ERA Cayman Islands, all our agents are handpicked for their excellent record in customer service and gainful years of experience in both the local and international real estate industries. Our broker, Jeanette Totten, was the first female president of CIREBA (Cayman Islands Real Estate Brokers Association). She had been elected to lead the organization in multiple terms since 2012 and was instrumental in forming the Cayman Multiple Listing System (MLS). She currently serves as a Board of Directors for CIREBA. Quoted by the New York Times, Jeanette reiterated that the value of Cayman Islands real estate has remained stable, as high-end homeowners wait out the COVID-19 pandemic. “This is part of their portfolio and they’re just holding onto it. And they’re riding out the pandemic storm,” she observed, affirming that not only have prices remained steady in the Cayman housing market but also continues to remain strong.
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