A small surprise for the world real estate market is the Cayman Islands. Despite the cold and the Christmas peak, lead most investors to dream of typically winter destinations, it is right to have a broader view. And especially not dependent on the winter season. The island market of this reality, is experiencing particular success among investors. After years of serious difficulties, the recovery seems to have arrived, so much so as to guarantee a more stable situation for the entire local economy.
But let us now try to understand in detail what we are talking about and what will happen in 2020.
The Cayman Islands, as we anticipated, have gone through critical years. We can say that, in reality, the local property market is only now beginning to take shape. After a period of almost total absence of a strong and attractive real estate market for investors, the situation finally seems to have turned around.
But what is the new face of real estate in the Cayman Islands based on?
We assume that prices have increased by 33 % compared to last year.
However, it is necessary to analyse which areas are most valued in order to better understand the direction in which the local real estate is heading and, above all, what potential buyers want most.
The strongest growth has been in Seven Mile Beach condominiums, while single-family homes have been in Cayman Kai in the north.
The former is undoubtedly the main area when it comes to luxury real estate. The beach close to the coral reef, the wonderful climate and, above all, the surrounding natural beauty, guarantee added value to a real estate that recovers year after year.
In detail :
But what will be the future of this interesting location ? Will such high prices prevent real summer ? Well, we cannot say with certainty what will happen. But without a shadow of a doubt, real estate is a growing sector, which can afford such an important price increase, given the very high demand for real estate.
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