Cayman Islands Market Reports - 2018
2018 Year End Market Report
An honest appraisal of the Cayman marketplace
Review
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 hard sales data. It is normal in the off (s...
Read MoreNew Year
ReviewIn 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.
General OutlookThe CIREBA statistical report is very telling without even comparing it to last year. The average sales price for all properties sold this year by November 2017 was US$650,000. That is a very impressive average, considering it cover...
Read MoreMid-Year
Review
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.
General Outlook
The average sale for 2018 YTD is approximately US$680,000 or 4.5% higher than last year. But wh...
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