Cayman Islands Market Reports - 2018
An honest appraisal of the Cayman marketplace
In our last report we suggested it would be imprudent to bet against our economy continuing to expand, however with the onset of the slower Summer Season we should expect a slowing of activity until winter. Both have occurred. Our market is stronger than ever with stats coming shortly to back up that claim, however the sales activity was not as strong as it had been the first half of the season...
In our last report we noted the surprisingly large number of Summer Tourists in June and July and said we expected this trend to continue. With increasing demand and limited supply we predicted rising prices. That is precisely what has occurred.
The CIREBA statistical report is very telling without even comparing it to last year. The average sales price for all
In our last report we said we expected “a very strong Residential Real Estate market with traffic congestion and lack of supply possibly having a dampening effect” for the first half of 2018. That we have seen. The demand has been strong, but the lack of supply has kept the first half of 2018 from matching 2017, although it is only down about 4% over a super strong last year.
The average sale for 2018...