Condominiums & Apartments
A great selection of condos, apartments and town-homes are for sale across the three islands and consideration should be given to make sure your new condo home is ‘fit for purpose’.
Also, strata or condominium fees should be reviewed to understand if any assessments are pending, insurance payments have been factored in, etc. There are complexes available from three units to much larger developments with a variety of amenities. Sales in Seven Mile Beach saw a slight drop off in 2016 at 115 sales, slightly down from 2015 due to the continued decrease in inventory.
As of June 2017, there were 270 studios (one, two, three and four-bedroom) condos for sale on Seven Mile Beach, the least expensive at Margaritaville Hotel, with a new category of hotel rooms with set owner usage for sale from US$195,000. Seven Mile Beach fronting condo complexes range from US$550,000 and up to US$16,150,000 for a three bedroom four bath condo at the Ritz-Carlton. Some developments have full time property managers and tourist rental programmes and others are private for owners and guests only.
A wide choice is available from small modest units inland to ultra-luxury apartments in WaterColours, the Ritz-Carlton and the new Kimpton Hotel. Significant ROI are made in Cayman condos, as we benefit from a buoyant local full time rental market with many residents flocking to our shores on work permits with the need for accommodation. Aside from Seven Mile Beach, there are numerous other options available on our Islands from one to four bedrooms, with inland, canal, water or beach views, all with differing styles, amenities and management. Pricing varies from CI$100,000 to $5 million.
For lots more information on what each district in Grand Cayman, Cayman Brac and Little Cayman offer, read on.