May 2024 Real Estate Highlights
Discover the Latest Listings, Market Trends, and Success Stories!
Properties Sold
83 properties
Prices Ranging
CI$26,000 US$7,000,000
Listings For Sale
1345 properties
Residential/Land
479 / 375 properties
MARKET MATTER - CHARITY BEGINS AT HOME
It’s no secret that Cayman is loaded with the most charitable people on the planet (nope, we’re not biased at all!) but it’s been more evident lately as the needs are greater than ever before. We have seen incredible fundraising events that have boosted our mental health, special needs, and lower-income charitable organizations in the past few months and April was a big month for giving. In addition to money being raised, awareness of our planet and a changing environment also saw amazing Earth Day activities resulting in a cleaner Cayman. We applaud water- and land-based cleanups by many individuals, corporations, and even tourists. Let’s hope we can continue to encourage a healthy and more waste-conscious planet through education, awareness, and overall clean living. We have to be more cognizant of our ridiculous use of plastic – recycling doesn’t cut it. We need to REDUCE what we use so we can lighten the load to start with. Not everything that is plastic/paper or cardboard can be recycled. Think about what you use in the run of a day and alter frivolous needs as much as possible: small steps make a big impact.
GEORGE TOWN ACTIVITY KY
The usual sales always occur within any given month: A high-end residence sells on Seven Mile Beach like the Ritz, Kimpton, Pinnacle, and even pre-construction sales like Watermark. This month we saw encouraging activity in our business niche: the sale of the George Town Financial Centre (corner of Mary and Fort Streets) for US$6.5 and the pending of the SeasideBuilding (where Le Vele is located upstairs). There are whispers too that someone is looking to buy the Jack and Jill Building. There’s a lot brewing in George Town right now! George Town has been sluggish for a while since many big-named banks and businesses have left town for greener pastures known as Camana Bay. However, the Cricket Square complex continues to grow too with a new multi-level building underway. We hope that more of the vacant buildings in town will convert to apartments over the retail locations (a successful global trend). Then we’ll attract more restaurants and nightlife to show off our beautiful capital, George Town. It's so pretty at night and if done right, the area could thrive and be one for locals and tourists to enjoy when the sun goes down. Occupants of ONE GT (under construction) will love the convenience, and it will take the pressure off the super-crowded SMB corridor.
Tourism Soars
The bookings are solid, the streets are busy, the restaurants are full, and the island is full of tourists. It’s been a great 2024 so far for our tourism sector and after the last 3 years of calm, the chaos is welcomed. Numbers are looking good and Cayman is booming with business. It’s great to see – tourism is a huge part of our economy and even though we are getting more overdeveloped in our opinion, tourists love Cayman for its beautiful beaches, diving, dining, safety, friendliness, and array of places to stay, and ways to get here. Another big plus has been the large corporate groups making Cayman their destination for meetings and incentives. Our sophisticated technology and ultra-modern meeting spaces make Cayman the perfect venue for global corporations. Those executives bring their families and make a vacation out of it so they can play when the work is done!
For more information on the Cayman Islands Department of Tourism figures, click here.
