ERA Real Estate Blog

At a recent gathering of real estate professionals, surveyors and property developers Premier Alden McLaughlin and his government announced a plan to introduce amendments during the current session of the Legislative Assembly to provide for the registration of volumetric 3D land parcels and the ability to subdivide them into the sky for overhead development. In effect, this legislation will create...

The real estate market in the Cayman Islands, especially with respect to vacation and second homes, has never been better. As inventories rapidly shrink on 7 Mile Beach and in places such as Cayman Kai & South Sound, we are seeing the emergence of a new and increasingly prevalent phenomenon. This trend is the emergence of the “multiple offer” situation....

Hurricane season is upon us here in the Caribbean and this was never more evident than when Hurricane Earl made its recent pass a couple hundred miles to the south of the Cayman Islands. Perhaps with Ivan in the back of their minds, locals made mad dashes to the local grocery stores, gas stations and banking institutions. Hoarding bottled water,...

The topic of ‘multiple offers’ is what we will be discussing in this installment of the CIREBA President’s blog. There is, perhaps, nothing more potentially frustrating for Purchasers and Vendors than dealing with and negotiating multiple offers. These situations are often fraught with misunderstandings and competing offers oftentimes result in missed opportunities. Core to the multiple offers situation is the...

CIREBA continues to raise the bar. The association is pleased to announce the purchase of a program platform that will allow the membership to conduct background searches on clients and customers in relation to due diligence requirements. Access to this service will be made available at no additional cost to the members and the program includes profiles of over 6...

For this installment I would like to share a few thoughts on the local market here in the Cayman Islands. As we review the local market trends many intriguing details begin to emerge. The first thing that jumps out at us is that the local market seems to be steadily improving. This is never more evident in the areas surrounding...

As we are now officially in the beginning stages of our “off season” here in the Cayman Islands we find ourselves asking this all-important question: Is now the time for overseas investors to purchase property? When we look at this question, several factors point to the answer being a resounding ‘Yes’! The first example of now being the time to...

In light of the recent leak of the “Panama Papers” - shutting down tax havens and offshore financial centers has been the talk of the town lately. This leak from a Panamanian law firm that primarily provided discreet financial services for the wealthy has brought renewed calls for a global clampdown on offshore financial activity. These calls for crackdowns in...

Well that time of year is finally upon us. With the long Easter weekend coming and going, we here in the real estate business in the Cayman Islands mark the end of the tourist winter season. The days of multiple showings, open houses and putting the miles on the tires are now in the past and everyone on the island...