Real Estate Activity Active Across The Board

Real estate activity, since re-opening after our COVID lockdown, continues to be very active for properties within both our local residential market and resort market. This activity is across the board, starting from lower level prices up to multi-million dollar price levels.

Once our borders are fully open and many more new residents and visitors start to arrive, the inventory of real estate properties for sale is expected to be even lower. In the next several years, this low level of available properties for sale is expected to reduce even further, as strong demand is forecast to far outstrip any new supply.

In the resort market along Seven Mile Beach, two of the more active properties for pre-completion sales have been The Watermark and Grand Hyatt Residences. Both of these properties started construction late last year.

Demand for the Watermark has not slowed down since sales began and the development is over 85% sold out. Additionally, there have already been 4 resales at the Watermark that have been recently sold. The Grand Hyatt Residences is over 65% sold out and sales activity remains very strong for Studios up to 3 Bedroom Residences in Cayman’s next 5 Star resort.

In regard to reopening the Cayman Islands, as of October 1 st, our borders have partially opened to the following groups:

• Caymanians, permanent residents, work permit holders and their families, persons who own residential property within the Cayman Islands, other approved visitors such as students with a valid visa to study in the Cayman Islands, and persons with close family ties to residents or work permit holders; such as spouses, fiancés, parents, grandparents and siblings.

For more information about traveling to the Cayman Islands, the following information may be
of assistance: TravelCayman@gov.ky and tel. (345) 649-6913. Hope to see you, soon!