With no property taxes, owning land in Cayman is a solid and hassle free investment. You can build when you are ready, or sell the land for a profit when it is convenient or necessary.
Land sales for the first half of 2019 were down by 12% and the value of the transactions was also down 6%. That does not mean that land values are dropping, however, in fact, the prime parcels continue to rise in price. But we are starting to see a lack of supply of good beach parcels or lots in well located canal communities. Those properties that are still available are somewhat inferior to previous sales, so lower pricing is appropriate. However, quite a few smaller, low priced inland lots have been selling to satisfy residency requirements, and those sales have brought the average sale price down more than any other factor.