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Special Mid April Market Report Released

The last half of 2019 was strong and provided a continued positive outlook in Cayman. The development activity on Grand Cayman was as active as it has ever been. Rising prices continued, but sales slowed somewhat as a result of that, plus the increasing supply of Residential Real Estate inventory. The latter half of 2019 showed a decline in # of sales by 4.5%. and dollar volume by 14%. In fact, decreases occurred in all Residential sectors except single family homes, but we must remember that this was only relative to 2018 which was a boom year. In other words, everybody was busy which was good for business overall in Cayman. And some of the more outlying areas of Grand Cayman showed increasing activity as did the Sister Islands. The first month or two of 2020 was a continuation of 2019 ie. strong tourism figures with local businesses doing well. Presales of Luxury Condos on 7 Mile continued apace with WaterMark up to 70%, and Hyatt at 40% SOLD.

 

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