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Tag Archive: Ironwood

Cayman Economy in a Great Place

In 2010, during the height of the global recession, the volume of Cayman’s property transfers dropped to $300 million, six years on it is safe to say that Cayman has recovered. In the past year Cayman has seen property transfers grow 11 percent to a total volume of CI$600 million, beating 2008s high of $560 million.

Tourists numbers and spends have also been on the increase with cruise ship tourists spending approximately $100 per day. A total of 1.7 million arrived on the island, up from 1.6 million the previous year, but still short of the record 1.9 million in 2006.

People flying into Cayman hit a 15 year high as air arrivals topped out at 385,378 during 2015. More than 80 percent of arrivals came form the United States or Canada, 9 percent from Europe and the rest traveled from elsewhere.

There’s also plenty of public and private money being spent across the island, with renovations to the cruise port in the early stages and upgrades to the airport currently underway. Health City is expanding medical tourism, and has announced a $25 million capital investment program this year. Cayman Enterprise City is scheduled to start work on two $25 million gateway buildings, kicking off a 20 year, $300 million project to build a Special Economic Zone. (more…)

March 15, 2016 Blog, , , , , , , , , , , , Read more >

Successfully Buy Investments Abroad

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…)

September 29, 2015 Blog, , , , , , , , , , , , , , , , , , , , , Read more >