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We are seeing a slow-down in activity, inquiries and reduced sales prices much more prominently in the last 6 weeks. This is typical of summer in Cayman, but this year we are in the US-election season, we just had a change in Prime Ministers in the UK and locally are facing what will be a pivotal election in May 2025. These factors give everyone an expected pause. Combine this with an unprecedented Hurricane visit the first week of July, and it’s clear it’s not only the market taking a deep breath! With only a slight dip in last year’s sales, overall we remain steady: construction is still busy and investor confidence locally and globally remain strong.
Inventory of properties under $1M is low at just 294 – that’s a mix of land, homes and condos as well as commercial warehouses. “Affordable” properties are hard to find and if they come up, they are taken fairly quickly. Even pre-construction affordable properties are going superfast.
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Summer is here (YEAH!), and we’ve got amazing staycation offers for those who prefer to avoid flying. Visit www.CaymanVacation.com for fantastic discounts and summer specials. Their booking process is a breeze, their fees are straightforward, and they have a huge inventory to choose from. Connect with them and enjoy a VACATION WHERE YOU LIVE!