Kickstart the year with a deep dive into January’s real estate trends in the Cayman Islands.
As we kick off 2023, the market is still in forward motion with some great listings coming up and “covid-haulted” projects are taking shape.
Aura: WOW the finishing details are as fabulous as the interior details. This is one of many in the Grand Harbour area wrapping up and you just cannot miss this 39-unit complex as you head east and approach the Grand Harbour area. Indigo Bay (one of our favorites!), Harbour Walk (residential and retail) are now closing too and long-awaited buyers are enjoying their new homes!
Watch out for Grand Harbour’s residential waterfront listings: several beautiful homes are coming on the market soon!
We really cannot help but talk about it since it is affecting many investors and buyers that need to borrow money. HOWEVER, this shouldn’t stop you from buying. Work with the bank to stretch out the terms of your loan and buy now (or soon). When interest rates go down – which is projected to happen in late 2024 – you can refinance. Over a 20-30 year period, rates will fluctuate so although they are high now, they aren’t as high as we have seen before and like our Caribbean Sea’s tides: they rise and fall.
Well on Seven Mile Beach things are busy indeed! Sea Crest is done (Brian Butler’s latest), Aqua in well underway, Lacovia will most likely be torn down my mid-year, Camana Bay’s Olea and Kapuk are all you’d expect from a DART project, WaterMark is taking shape just shy of The Kimpton, and at the end of SMB on Boggy Sand we have the newly-announced small complex “The Sands” as well as 3 beachfront homes, raw land and redevelopment happening. Boggy Sand Road has always been wonderful and what’s happening there now is only emphasizing how great living there really is.