September Real Estate Highlights
Dive into September’s real estate trends with our concise market analysis.
Properties Sold
41 properties
Prices Ranging
US$35,00 US$13.7M
Reduced Listings
55 properties
Listings For Sale
1272 properties
MARKET MOVERS
BIG NEWS in September’s sold detail: the change in ownership of Grand Harbour from the Bell Family to a Jamaican-owned investment group. The Bell Family brought Grand Harbour to life in the 90’s and today it is one of the most popular business and residential areas in Cayman. Outside of Seven Mile Beach, there are hundreds of new residents in the immediate vicinity of the complex: Harbour Walk, Aura, Arvia, Periwinkle and private waterfront homes. We’ll see what the owners have in store for Grand Harbour!
There were ‘only’ 41 closings in September (down from 70 last September), key high-priced sales occurred in Rum Point and along SMB with a number of private homes. Twin Coves in Rum Point sold for $8M, Island Club condo sold for $4M, homes sold for $5.6M in Yacht Club, and $4.6M and $6.8M in Crystal Harbour, just to name a few.
As we see banks and government working on affordable property buying for Caymanians, our market should continue to flourish and sail through the global economic slowdown.
STAMP DUTY NEWS
Government recently announced that the new Stamp Duty rates are in effect. This is good news for Caymanians, as the prices have risen and for many years, the stamp duty incentives had not. Now it’s a bit easier for Caymanians to own a property as this helps with closing costs. Banks offering fixed rates helps too.
As Caymanians ourselves, these new announcements are exciting and we would love to be a part of your buying experience. Give us a call and let our Caymanian team help you realize your dreams!
