August Real Estate Highlights
Explore the real estate pulse of August with our succinct market overview.
Properties Sold
58 properties
Prices Ranging
US$35,000 US$6.6M
Under Contract
71 properties
Sister Islands
We cannot help but raise some eyebrows about the sales activity on our Sister Islands. Sales in Cayman Brac and Little Cayman have been brisk for a few years now: between Dart and Frank Schilling projects and land acquisitions by them, savvy investors and Caymanians alike are buying land in anticipation of what these 2 will create here.
Interesting, with the passing of Gladys Howard in 2015, Pirate’s Point was in limbo for a bit and sold this month for US$6,680,000. Watch this space to see what comes of Pirate’s Point, a much-loved spot for anyone who has ever been to Little Cayman.
Also interesting is the newly listed Kingston Bight – a 3.3 acre property with an abundance of opportunities. Listed at US$7,995,000 with existing buildings, restaurant/bar and of course waterfrontage. If you have vision, consider this one! MLS#416530
Quick factoid: There are 135 properties listed for sale on our Sister Islands as of today (September 4th)
Summer Break for Businesses
As is typical of this time of the year, many restaurants are taking their much-needed break during September and October. For over 40 years, September and early October are the slowest months of the year and staff need to refresh and rejuvenate before high season. Since our tourism was busy until just recently, staff are welcoming the break to travel, head back to their families, renovate their restaurants and gear up for another busy time. Rum Point Club, Calyspo Grill, Lobster Pot, Grand Old House, Italian Kitchen and more are either closed or have altered hours for the next 6 weeks. Check out the businesses websites for details.
One thing that hasn’t had a summer break is our Roads Authority and Public Works Crews. They have been busy with new roadways to ease the horrific traffic issues, create roads to ease school congestion and pave/widen roads in need of attention. Hats off to these crews: they are doing a great job!
