August Highlights

123 new listings in August

Sold: 73 properties closed

Price Ranges: CI$47,000 to US$6M

Market Watch

So the speculation about a ‘recession’ looms but Cayman doesn’t seem to be largely affected. In fact, there are some areas that still are super-hot and the activity is feverish!

Development sites remain the #1 niche in the market that continues to grow. “Buy land; they’re not making it anymore”.  Multiple bids within days of a listing hitting the market happened during August.


Indeed we have also seen a much-needed price ‘correction’ on several properties that were listed a bit too ambitiously. To us, it means that they are priced – and selling! – for fair market value instead of a bit over market, as the frenzy seems to have calmed down.

Banking Woes

Sadly there are some bank repo’s coming online, as our local market is deeply impacted by the continuous rise in interest rates and sharp increase in cost of living. Some mortgages have increased by $250-500 per month and that’s a tough nut to crack for some people on a tight budget/fixed income.

Government is working on the cost of living issues but they won’t happen immediately. Banks need to offer fixed rates instead of floating – there’s no reason not to – and by doing this would not only alleviate potential repo situations, but will help the local market to budget accordingly when buying property.

We Are Open!

As of August 24th, it’s COME AS YOU ARE! Our Covid-restrictions have been lifted and we are thrilled. With many carriers offering direct flights from a slew of cities (and Cayman Airways now flying direct from Los Angeles to Cayman!) we are ready to welcome you. New businesses, new roads, new places to stay, new restaurant experiences and more. 

Come enjoy the improved island that we have been enjoying mostly for ourselves over the past 30 months.  No tests, no quarantine, no travel certificates….and best of all no excuses!

Check out the link below to www.CaymanVacation.com and start packing!

Featured Listing

Prospect Triplex

3,830 Sqft -

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Property Description

Solidly built rental investment in popular Prospect area. Close to bus transportation, schools and essentially between Countryside and Grand Harbour for shopping conveniences.

Brick paved parking area, wood deck back patio overlooking a lovely pond with turtles galore. Better ROI potential can be realised with all 3 units rented; owner lives in the 3 bedroom.

MLS# 414534

Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : 1031
Price : $875,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 3,830 Sqft
Year Built : 0
Lot Area : 0 Sqft
Features
Fence
Patio
Furnished : Semi Furnished
Appliances
Washing Machine
TV
Address Map
District : Spotts
Floor Number : 0
Longitude : E0° 0' 0''
Latitude : N0° 0' 0''
Residential For Sale
  • Listing ID : 1031
  • Bedrooms : 0
  • Bathrooms : 0
  • Square Footage : 3,830 Sqft
$875,000
Agent info
Contact Agent

Prospect Triplex

3 separate rentals 

TWO 2 bed 1 bath units and ONE 3 bed 2 bath unit.

$895,000 KYD (Price is Negotiable)

MLS# 414534

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Log on to www.CaymanVacation.com and let them help you. Large inventory, great service, super easy booking process.