This section will provide prospective home owners with detailed information on the various approaches one can follow when building a home in the Cayman Islands, including the associated pros and cons on things that need to be considered.
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The construction sector is booming in Cayman as demand continues to be high with a dwindling inventory, even with the number of new developments. New development projects are announced regularly, and it is anticipated that the construction sector will remain buoyant over the medium term, with many complexes and hotel projects both underway and in the pipeline.
In the first six months of 2022, there were (1) 487 planning approvals, an indicator of what may be built in the next five years, (2) 559 permits issued, an indicator of construction to commence within a year, including ancillary structures such as pools, cabanas and generators, and (3) 227 Certificates of Occupancy issued, an indicator of completed habitable buildings. However, with interest rates rising and the cost of living continuing to increase, the willingness to borrow for real estate investment will likely decrease, and continued inflation could pull the economy into recession, meaning sustaining development moving forward may be challenging.
Construction prices have also soared during the last couple of years, and there continues to be a large amount of uncertainty globally due to the continued effects of COVID-19 affecting supply chains and logistics. Additionally, the war in Ukraine is affecting the supply of raw materials.
We are seeing a bullwhip effect on the supply chain, small fluctuations in demand at retail level causing progressively larger fluctuations in demand at wholesale, distributor, manufacturer and raw material supplier levels. Demand shock rectification takes years following such a ripple effect. As such, it is anticipated that construction costs will continue to increase. It is also increasingly commonplace for suppliers to not be able to provide a timeline for the supply of materials to developers due to global logistical issues and strengthening demand. This is unprecedented.
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This section will provide prospective home owners (or builders) with detailed information on the various approaches one can follow when building in the Cayman Islands, including the associated pros and cons on things that need to be considered.
There are several general models of how construction contracts are structured and there are good reasons to recommend one over another in particular situations.
Cayman has a whole host of building professionals to choose from whether you’re seeking an architect, a general contractor, a quantity surveyor or otherwise. Read more for our recommendations.
The Cayman Islands has a wonderful selection of qualified and experienced architects and the quality and style of our architecture stands testimony to that.
A construction manager or quantity surveyor is used when setting up construction contracts. Here is a list of recommended construction managers.
Find licensed land surveyors in Grand Cayman, Cayman Brac and Little Cayman for boundary surveys, subdivision mapping, topographical surveys plus more.
Local Cayman construction companies, contractors and builders for commercial and residential building projects and renovation jobs in the Cayman Islands.
Chartered Quantity Surveyors
Need a building budget? Find chartered quantity surveyors in the Cayman Islands for property building and development cost management and consultation.
Building seem overwhelming? Find top project managers in Cayman who can oversee your building or renovation projects, while keeping the team on track!
Civil & Structural Engineers
You guide to civil engineers in Cayman who provide consulting services, geotechnical and foundation engineering, soil/piling tests plus structural reports.
Roofing contractors in the Cayman Islands who install standing seam metal roofs, shingles, installations and repairs for residential and commercial projects.
In this section we focus on primary building materials used in the Cayman Islands: concrete blocks, driveway and walkway surfacing, Insulate Concrete Forms (ICF) and spray foam.
Concrete Blocks & Pavers
Need durable building materials? Concrete blocks are used for solid construction in Cayman. Find a company that sells blocks, pavers and other materials.
Insulated Concrete Forms
Cayman is hot! Luckily insulated concrete forms helps to keep the cool air in your home. Find out why this building material is a must plus where to buy it.
Driveway & Walkway Surfacing
Driveway surfacing plus walkway resurfacing can transform the outside of your residential or commercial property. Find a company today!
Spray Foam Insulation
Using spray foam insulation when building in the Cayman Islands will reduce air leakage which can help keep those A/C costs down.
A desalination system will help you secure water resources in the event of a hurricane or another emergency.