7-bed house on 7MB sells for record price tag

| 18/12/2017 | 0 Comments
CNS Business

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.

Tags:

Category: Local Business, Real Estate

Please include your email address in the form below if you are using your real name. You can use a pseudonym, with or without leaving an email address, or just leave the form blank to be "Anonymous". All comments will be moderated before they are published. The CNS Comment Policy is at the top of this page.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: