Land continues to be a solid investment in the Cayman Islands. There has been a significant increase in the volume of canal-front lots sold in recent years in areas such as Crystal Harbour, the CI Yacht Club and Patrick’s Island. Any reduction in land sales going forward is likely to be the result of diminishing supply, as opposed to a drop in demand.
Inland property remains more affordable than beachfront, waterfront or canal-front. Care and due diligence should be taken as to the ground and soil condition of any land acquisition as this varies considerably in Cayman and can add hidden costs to future development. Potential buyers should also appraise themselves as to the location and history of the survey or boundary markers. Individual beachfront land parcels can still be found at good regional value, especially in the Eastern and North Side districts.
Overall confidence has confirmed that the Seven Mile Beach corridor has the fastest selling rate due to an abundance of activity and investment in this highly desired area. Camana Bay has boosted the quality and variety of amenities available to residents and is a wonderful example of new urbanism. South Sound has also seen a recent surge of land and developer investment after several years of calm.