To successfully buy residential property investments abroad depends on understanding local and external forces. Population, affluence and supply of land and housing will all greatly affect house price growth in excess of general inflation. Without all of these variables the housing market can stall or even send values downward.
Savills have recently published ‘World Residential Markets – Performance and Prospects‘, a report that identities what strategies international investors should look to adopt to take advantage of the way the world economy is heading.
The research looks mostly at the rise of secondary properties, growth of second-tier cities and the rise of international resorts.
‘Safe havens’ like London, New York, Hong Kong and Singapore have been and look likely to remain sound investments. The key to overseas investment is finding the higher yielding, lower-price purchases with higher capital growth potential.
One part of the world the report singled out was the Caribbean, and in particular, the Cayman Islands. Tourism is all important to the Caribbean, but Cayman like the British Virgin Islands benefits from a more diverse economy with more than half its GDP generated by the financial services sector. This attracts residents relocating from overseas businesses which in turn supports a prime residential market for long-term residents through high paid jobs. (more…)
Robert McCrimmon
September 29, 2015
Blogaffluence, Airport, Cayman, Cayman Brac, Cayman Islands, cruise port, Dart Reality, economy, housing, housing market, inflation, investments, investments abroad, Ironwood, Little Cayman, local and external forces, population, real estate, report, residential property, Savills, supply of land
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Tourist numbers in Cayman hit an all time high in 2014 with air arrivals up 11 per cent on 2013 and cruise ship numbers up more than 23 percent.
This growth has resulted in developers building homes and expanding resort hotels. This has opened the door for investors to come in and buy houses and condos all over the Cayman Islands and capture the lucrative sun-seekers holiday and rental market.
High tourist numbers has been the catalyst for the boost to Cayman’s economy. Usually a quick increase in housing comes from a dramatic increase in population. However Caymans full time population, although steadily increasing, is still less than 60,000. (more…)
Robert McCrimmon
July 22, 2015
Blogbuilding, Cannes, Cayman, Cayman Islands, developers, growth, hotels, Monaco, population, properties, property, Santa Barbara, tourism, tourist, visitor
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The Economics and Statistics office announced a 2.1 percent growth in Caymans estimated Gross Domestic Product during 2014, the highest since 2007.
It has been the second consecutive year that the central government has recorded overall fiscal surplus which has amounted to CI$93.2 million attributed to improved revenue collection.
The strong fiscal position the government has found itself in has enabled them to reduce its outstanding debt by $25.9 million to $534.0 million at the end of 2014.
It was also noted that the average income in the Cayman Islands raised from CI$47,170 in 2013 to CI$48,095 in 2014, an increase of just under 2 percent.
The increase of tourism arrivals from both air and sea is believed to have had a strong impact on the Gross Domestic Product with growth in areas such as hotels and restaurants, transport, storage and communications, wholesale and retail trade. Air arrivals in 2014 were up 10.8 percent on the previous year and Cruise ship arrivals up a massive 17 percent on 2013. (more…)
Robert McCrimmon
July 20, 2015
BlogCayman, Cayman Government, Cayman Islands, Cruise ship, Economics and Statistics office, economy, government, Gross Domestic Product, growth, tourism
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Brac Reef Beach Resort on Cayman Brac is set to start to renovate in a few weeks time.
At present, the family-owned resort has 40 beach view rooms, dining, swimming pool with poolside bar, day spa, fitness center, tennis and volleyball courts and gift shop, all on a four and a half acre privately owned beach on the Southwest end of Cayman Brac.
Upgrades will include a new multi-level bar, freeform resort pool, upgrades to all of its 40 rooms, and resort-wide renovations.
Brac Reef Beach Resort is one of the newly crowned Trip Advisor’s Hall of Fame winner, a new award that recognise recipients that have consistently received positive ratings and have earned Certificates of Excellence over a five year period.
Brac Reef Beach Resort boasts the best resort diving experience in Cayman Brac, and treats divers to a one-of-a-kind valet diving experience to explore unique reef, wall and wreck dive sites.
Once the upgrades are complete the resort, that will be renamed to Cayman Brac Beach Resort, will truly be the ultimate divers’ paradise, which will also be ideal for travellers seeking a relaxing Caribbean retreat where the adventures of the sea is enhanced by the experience of the resort.
Completion of the project is aimed for November, the start of Cayman Islands tourism high season.
Jason Pickthall
July 17, 2015
BlogBrac Reef Beach Resort, Caribbean, Cayman Brac, Cayman Brac Beach Resort, Cayman Islands, diving, property, renovation, resort, retreat, Trip Advisor, Trip Advisor Hall of Fame
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Regular business people and tourists can now apply for a new multiple-entry visa that lasts for five years. The previous visa only lasted three years, by adding an extra two years officials are confident that the new visa would encourage successful applicants to travel to the Cayman Islands more often. To be considered for the new long-term visa you must submit your application through the Cayman Island Visa Offices in Honduras and Jamaica. (more…)
Robert McCrimmon
June 10, 2015
Blogbusiness, Cayman Islands, Department of Immigration, multiple-entry, tourism, travel, Visa
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The Cayman Government has approved a designated special economic zone (SEZ) for maritime service companies on Grand Cayman. Shipping companies and maritime service providers are now permitted to establish a physical presence in the newly created Cayman Maritime Service Park of Cayman Enterprise City.
Cayman Enterprise City is now into it’s 3rd year and comprises six parks with 154 zone companies. The new Maritime service Park will see ship owners, brokers and financiers, freight trading, operations, logistics, vessel management, consulting and research companies added to their numbers. It is anticipated that the Park will bring maritime services businesses to Cayman shores that will help to establish Cayman Islands as the largest maritime cluster in the region.
In April, the Cayman shipping registry was commended by the International Chamber of Shipping, in its annual Flag State Performance Table, as being 1 of 14 states leading the chart with exemplary performance indicators. Following this recognition the Office of the Premier announced the completion of the necessary steps by the Government to create the Maritime Service Park, during the 2015 Shipping Summit at the Marriott resort. (more…)
Robert McCrimmon
May 14, 2015
BlogCayman Enterprise City, Cayman Islands, Chamber of Shipping, Flag State Performance Table, maritime, Special Economic Zone
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When people think of the Cayman Islands, most people think of no direct taxation, great weather, beautiful beaches, amazing diving and stunning Caribbean natural beauty. What people don’t necessarily think of is Cayman’s fantastic world-class food scene that has exploded over the last couple of years.
International and local chefs continue to open fantastic restaurants in Cayman bringing a fantastic mix of Caribbean and European influences to the Islands, and with many Cayman eateries adopting the farm-to-table movement its not only high quality seafood on offer.
The farm-to-table movement not only brings healthy, fresh and local produce to Cayman plates but also keeps money in local pockets. When dining in Cayman you can be eating the fish from its waters and the vegetables from its land. (more…)
Jason Pickthall
May 11, 2015
BlogBestofCayman.com, Blue Restaurant, Camana Bay, Capt. Herman East Side Fish Fry, Caribbean, Cayman Islands, Cindy Huston, Eric Ripert, farm-to-table, farmers, food, healthy, Le Soleil d'Or, local produce, Michael Schwartz, Michael's Genuine Food & Drink, Ortanique, Ritz-Carlton, Seven Mile Beach, Sunshine Grill, Taste of Cayman, The Brasserie Restaurant & Market
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Invest in the
CAYMAN ISLANDS
Gateway to the Americas |
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Jason Pickthall
April 20, 2015
BlogCaribbean, Cayman Islands, freehold development site, interest free finance, investment opportunity, luxury
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Scuba Diving magazine’s readers voted on their most prized dive sites around the world and the Cayman Islands won more awards in the Caribbean and Atlantic than any other destination.
“As a prime dive destination, we are so pleased to have a thriving dive community who care for our underwater splendor and act as ambassadors for the Cayman Islands. Earning awards such as these are a reflection of the valued partnerships between the dive operators, tourism and government who all must continue to work together to ensure that our dive sites thrive and draw visitors from around the globe in the future.” Minister of Tourism Hon. Moses Kirkconnell. (more…)
Jason Pickthall
February 26, 2015
BlogAtlantic, best, Best Marine Environment, Best Overall Diving Destination, Best Under Water Photography, Best Wall Diving, Caribbean, Caribbean Journal, Cayman Islands, scuba diving, Scuba Diving magazine, Travel Awards, won, World Travel Awards
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Cayman has been the backdrop to many may major film productions over the years, including ‘Into the Blue’ staring Paul Walker and Jessica Alba and ‘The Firm’ staring Tom Cruse. However now the Film Commission Board is trying to be more active in bringing more movie, TV, commercial and documentary production crews to the Cayman Islands.
During 2014 the Film Commission moved from the Department of Commerce and Investment to the Department of Tourism. (more…)
Jason Pickthall
February 26, 2015
BlogCayman, Cayman film board, Cayman Island Film Commission, Cayman Islands, commercial, Department of Tourism, documentary production, film, Hollywood, movie, niche, productions, TV
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