Cayman Islands Real Estate News

New life breathed into Seven Mile Beach

07 February 2019

For some time now I have written about the dwindling inventory available on Cayman’s most prized real estate corridor, that of Seven Mile Beach. I can now report with some excitement that the owners of the Lacovia condominiums – an existing development located about a third of the way up Seven Mile Beach – have unanimously agreed to redevelop their property.

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Market strengthening in 2018

23 January 2019

For the past couple of years, I have been discussing the upward trajectory of the market, in terms of transactions and sales, and the ultimate reduction of inventory in sought-after places such as the Seven Mile Beach corridor and corresponding canal front properties along the other side of the West Bay Road peninsular. An analysis of the statistics produced by the Cayman Islands Real Estate Brokers Association (CIREBA) for 2018 versus 2017 confirms my predictions and discussions, with 2018 showing increases in sales prices in most areas of the market, and in particular the condominium sector.

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How to buy property

20 December 2018

A recent discussion with a young Caymanian who is interested in buying property has led me to write this article, which are my views on how one ought to go about approaching the process of buying a property in the Cayman Islands.

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Economic data and its impact on the real estate industry

17 November 2018

At the time of writing, the US economy is anticipating another interest rate hike (predicted to happen before the end of the year) with two more expected in 2019. Also, we recently received the latest statistics courtesy of Cayman’s Economic and Statistics Office with regard to the latest Consumer Price Index figures at the end of June 2018, which showed a rise of 4.8 per cent over the same quarter in 2017.

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Presentation key to sales

11 October 2018

This month I would like to share a short lesson in the art of selling a property, a kind of real estate 101.

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Seven Mile condos not in the overpricing trap

19 September 2018

I had a very good response to last month’s article, on the disparity between what $2 million and above residential homes are often put on the market for, versus what the owners eventually are likely to receive for their sale.

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Impact on real estate industry of a public registry

19 September 2018

Clearly, the hot topic right now in the Cayman Islands business community is the U.K. government forcing its overseas territories, Cayman included, to provide a public registry of beneficial ownership by 2020. I believe that Great Britain has behaved very poorly in this regard because it has chosen not to include its Crown Dependencies, i.e., Jersey, Guernsey and the Isle of Man, in this change of legislation, which shows the agenda is disingenuous and is a redirection of business, effectively doing little more than to cast aspersions on offshore jurisdictions.

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Realistic pricing in a fast-paced market

21 August 2018

In a market that is currently seeing a great deal of activity, the sale pricing of US$2 million and above private homes or condominiums predominantly in the Seven Mile Beach corridor (West Bay to north George Town), is one that I would like to concentrate on in this update.

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James Bovell at Flowers Sea Swim 2018

17 July 2018

James Bovell, Broker/Owner of RE/MAX Cayman Islands at the Flowers Sea Swim 2018. RE/MAX Cayman Islands is a proud sponsor of this event year after year.

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A teaser of things to come - and words of caution

06 July 2018

The first six months of this year have almost closed, so I thought it would be a good point in time to reflect on how the market has progressed in 2018 so far, while at the same time offering readers a glimpse into what’s moving and shaking the real estate industry in the months ahead.

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James Bovell

James Bovell

Broker/Owner

+1 345 945 4000

[email protected]