The Cayman Island Real Estate Brokers Association (CIREBA) have just released their Market Report and the real estate market in the Cayman Islands continues to grow.
“The rental market is growing along with the population of the islands. Cayman tourism is doing well with both stay-over and cruise tourism numbers remaining steady in addition to development across the island,” CIREBA said in its report.
The report states that overall, real estate sales figures for 2016 are comparable with those of 2015. “The waterfront market appears to be improving at a faster rate than other segments of the market with growth centered around Seven Mile Beach condominiums.
“This coupled with strong demand and limited supply are resulting in a shift toward a seller’s market, which suggests that 2017 may see availability being a bigger issue than pricing. There is also increased popularity in canal-front homes partly as they are more affordable than ocean properties but still offer buyers outstanding views and waterfront locations.”
To read more from this report visitwww.cireba.com/market-review/cireba-market-report-2016
Now is a great time to sell and with demand being high both for rental and sales, IRG has a great team of agents who specialise in all markets, including residential, land, commercial, rentals and development. Contact [email protected] to find out how this growing market can work for you.
If you are looking to buy property visit our property pages at www.irgcayman.com to see our current listings