There are a number of waterways which cut inland from the North Sound creating canal subdivisions that are a very nice and a more affordable alternative to buying or renting a property directly on the oceanfront. If you are planning to buy a boat, you cannot beat the convenience of having a dock right in front of your home or apartment.
Inland waterways branching from the North Sound create canal subdivisions that offer a more affordable alternative to oceanfront living while still providing the convenience of a private dock right at your home or apartment. There are more than 20 such communities in Grand Cayman: about half are located along the Seven Mile Beach corridor and West Bay, while the others extend eastward from Prospect to North Sound Estates and the Cays at Rum Point.
These subdivisions take time to fully develop, and their stage of maturity has a significant impact on property values. As they grow, prices and appeal change accordingly, making this an important factor for buyers to consider. The following overview classifies canal subdivisions into five levels, with one being the most expensive and five the most affordable, though some straddle levels depending on specific roads, home quality, and landscaping.
Whilst some of the developments mentioned are not new (there are new ones added to Cayman's canal front landscape every year it seems), they are easy to find during online research to give you a great idea of what to expect.
Level 1
Top-of-the-line estate homes, meticulously maintained with strong covenants and security gates. For example, Vista Del Mar, The Ritz-Carlton Deckhouses, Lalique Pointé, Diamond’s Edge, Stone Island and Salt Creek are first in class in these tier-one communities because of their covenants, exclusivity, attention to detail, well-maintained public open spaces, amenities offered, security and the quality of the houses and townhouses. The most expensive, non-beachfront homes are found here.
Level 1.5
An example would be the non-gated, yet very prestigious, Cayman Islands Yacht Club. It has benefitted the most from direct access via the Esterley Tibbetts Highway, and residents are taking advantage of its boating facilities and two very good restaurants, Morgan’s and Bàcaro. In due course, a pedestrian trail to Seven Mile Beach will be built.
Level 2
Excellent maintenance and services, these are luxury homes with a manned security gate and strong covenants. Crystal Harbour leads this class of the field and has been one of the most actively developed canal subdivisions on Grand Cayman in recent years. Prisma is being built here. Popular subdivisions within Crystal Harbour include Cypress Pointe, Cypress Pointe North and Solara, and there is the Holiday Inn Resort that has a few privately owned units. Britannia and Britannia Estates are well established and still very well-regarded and a convenient living location. One important consideration, if you are planning on buying land to build on, is that concrete pilings are required in the house foundations of properties in both the Yacht Club and Crystal Harbour. This raises the cost of construction considerably. Crystal Harbour also offers some amenities, including a children's park, tennis and pickleball courts.
Level 3
Good services, mid to luxury level homes, well maintained with good covenants. Parts of Grand Harbour feature canalfront living and would fit comfortably at this level. Canal Point is in this class, followed by The Shores and Clipper Bay which is located between Snug Harbour and Canal Point. Governors Harbour has lost its sheen due to the lack of a landscaping buffer from the Esterley Tibbetts Highway and haphazard road maintenance (as these are private roads) but this could change.
A little further east, Patrick’s Island has some beautiful homes with mature landscaping and wide, open basins. It also backs onto a huge swath of undeveloped land with numerous dyke roads that lead to the North Sound via inland lakes and are lovely for walking dogs, running and getting away from it all. Patrick's Island recently became a gated community.
Level 4
Basic services with mixed mid-level homes, older subdivisions like Red Bay, Omega Bay and Prospect all have their 'good' and 'not as good' sections. Palm Heights in Snug Harbour has the benefit of looking across at Britannia, but this area contains mainly duplex properties. Canal subdivisions in this level include Palm Heights, Omega Bay, Sunrise Landing and Newlands Sound. New canal front developments include Paraiso in Grand Harbour (Prospect) and The Lagoons in Omega Bay. Finally, Ocean Crest and Allure, in Tropical Gardens, are two new oceanfront complexes that are listed here as the shallow ocean there is not swimmable.
Level 5
Canal subdivisions in this level include Red Bay, Prospect and North Sound Estates, all of which straddle levels 4 and 5, depending on which street you are looking at. Minimal maintenance and either no covenants or these are not enforced. Mid-level to lower-value homes, but most still to a very reasonable standard. All these subdivisions are similar, mixed-quality developments. The developers are now deceased, so there is no consistent, ongoing maintenance undertaken. North Sound Estates is farther out but has been quite active due to reasonable pricing. Some homes are very nice, however, there is a considerable amount of uncleared debris around. This keeps prices on the lower side considering many lots are still on the water. Land lot prices here have still effectively doubled in the last five years though!
