Cayman’s real estate market is hot, and real estate insiders at Team Property Cayman told Cayman 27 prices are likely never going down.
Aspiring first-time home buyers may see a two-year decline in inventory and rising sale prices as a stressful challenge to navigate, but for those of us who are not yet on the property ladder just yet, partner Stefan Prior has some advice: just relax.
“If you are not currently at homeowner, don’t worry, don’t fret and think, ‘oh geez my friends are all buying, I need to buy,'” said Mr. Prior. “The right time to buy property is when it is convenient for you, so if that is in two years time, it’s kind of make your plan, save, and work towards that plan, don’t stress.”
Mr. Prior told Cayman 27 new developments in the pipeline like Aqua, set to break ground next month on Seven Mile Beach, are springing up to meet demand for desirable housing as Cayman’s population grows.