Cayman stacks up well to Global Property Markets

Luxury homes in some of the world’s top cities saw a slowdown in price growth in the last quarter as new taxes, elections, referendums and economic jitters took hold.

Despite an average annual growth rate of 3.8%, 18 of the 37 cities tracked by the Knight Frank index saw their rate of price growth slide compared with last quarter. Among them were Vancouver, Toronto, London, Sydney and Melbourne; all cities where new taxes have been imposed in the last 12 months; either in the form of higher stamp duty, additional taxes for foreign buyers or the closing of tax loop holes for non-residents.

In Cayman we have had a very successful year with a number of residential homes selling, including within the luxury market, and more recently IRG has sold various properties including condos and mid-priced single family homes. We're seeing good appreciation in the residential sector in the 4-5% range and a positive outlook for the islands as we remain on a steady course economically, socially and politically. We're viewed as a safe haven for investors assets in uncertain times such as these, which should further strengthen Cayman's property market as the world comes to terms with the US election results and Brexit.

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To search through IRG's latest properties visit www.irgcayman.com/residential or to contact us about selling your property email info@irg.ky