7-bed house on 7MB sells for record price tag
Coconut Walk Estate on Seven Mile Beach sold for $12.5 million
(CNS Business): A single family home on Seven Mile Beach was sold last week for a record-breaking US$12.5 million, the highest sale price for a stand-alone family house in the Cayman Islands. Kim Lund from RE/MAX, who sold the Coconut Walk Estate, said it eclipsed the last record price for a home sale by over US$4.5 million. While this is the first residential home sale for over US$10 million, according to the CIREBA statistics, there have been a total of eleven residential homes that have sold for over US$5 million.
The more than 10,000 sqft, seven-bed, 6.5 bathroom house sits on 1.45 acres of beach front land close to Cemetery Beach in West Bay. The luxury property was built in 2010.
The previous highest sale price for a home in Grand Cayman was in March last year, when property in the Vista del Mar community sold for around $8 million.
There are currently twelve homes on the market in Grand Cayman that are listed for more than US$5 million, reflecting a boom for the real estate sector.
Category: Local Business, Real Estate
