Real Estate
7-bed house on 7MB sells for record price tag
(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. […]
DCI offers AML help to vulnerable businesses
(CNS Business): Professionals in the real estate sector and dealers in precious metals and stones were offered help and support recently from the Department of Commerce and Investment in ways to combat money laundering and terrorist financing. The sectors are classified as Designated Non-Financial Businesses and Professionals, which are still prone to the same threats and […]
Dart finally confirms Ritz acquisition
(CNS Business): After several months of speculation that Dart Real Estate had acquired the Ritz-Carlton, Grand Cayman but no comment from officials at the company, the Cayman Islands’ biggest property owner has finally announced that it has bought the luxury hotel on Seven Mile Beach. The news comes just weeks after Dart confirmed its acquisition of […]
Lund returns to desk on road to recovery
(CNS Business): Well-known local real estate agent Kim Lund recently returned to Grand Cayman and is back in the thick of buying and selling local property. The owner and broker at ReMax fell from the roof of his house in August and sustained a serious spine injury but has now begun the road to recovery. […]
Court calls stamp duty findings into question
(CNS): Cayman’s finance ministry may need to review how it assesses stamp duty on property sales following a court ruling that where property is exchanged in an arm’s-length properly marketed transaction at a reasonable market rate, the government had no business re-assessing its value for stamp duty purposes. The recent decision of the Grand Court […]
Ten storeys: setbacks and other restrictions
Stuart Rowe writes: A recent decision of the Grand Court has affirmed the relevance of the 1997 Development Plan within Cayman’s development and planning regime and in so doing has cast doubt over the Central Planning Authority’s ability to effectively deal with ‘high rise’ developments exceeding seven storeys in height.
Cayman to get another shot of Margaritaville
(CNS): The Treasure Island hotel in the heart of Grand Cayman’s tourist district is to become a full-scale Margaritaville Resort, new owners have said. Howard Hospitality Group (HHG) has bought the site, which was on sale for just over $15 million, and said it is already planning a major redesign and renovation of the building to […]
Strand shopping plaza up for sale at $15.5M
(CNS): One of Seven Mile Beach’s larger shopping centres is up for sale with a price tag of $15,495,000. The Strand Plaza, which is home to one of Foster’s supermarkets and Kirk Freeport’s stores, is on the market and described by the real estate agent who is marketing the property as a “truly exceptional opportunity” — […]
Real estate portal makes buying easy
(CNS Business): Whether you’re looking to sell, rent, buy or have someone manage a property in the Cayman Islands, one online real estate marketplace is trying to make it a “one-stop-shop” experience. easyCayman is an online real estate marketplace dedicated to providing a resource for individuals and professionals to be able to find and share vital […]
Brokers break away from CIREBA
(CNS Business): The majority of realtors in Cayman are members of the not-for-profit industry organisation, the Cayman Islands Real Estate Brokers Association (CIREBA). However, many real estate company owners are speaking out and telling CNS Business it’s time break away from the organisation’s “stranglehold” and make a change.
7MB property sales booming
(CNS Business): Cayman Islands’ 2014 Cayman Property Review revealed a 120% increase in areas such as Seven Mile Beach condominium market, a drastic change when compared to beachfront condo sales in 2013. Charterland surveyors revealed in their analysis there was a total of 178 sales of SMB individual condos last year, compared to 81 sales […]
Treasure Island up for sale
(CNS Business): The price tag for Grand Cayman’s Treasure Island Resort is US$15.475 million, but it’s the alleged black mould problem that has previous tenants speaking out. However, Re/Max Cayman Islands owner Kim Lund said he is unaware of that issue and has only had the chance to view the part of the resort that […]
Major Cayman hotel up for sale
(CNS Business): Following a $15 million facelift, one of Cayman’s leading Seven Mile Beach hotels is on the market. According to a release from CBRE, the US-based agents managing the marketing process, the Grand Cayman Marriott Beach Resort is up for sale. No price tag has been revealed for the 4.74-acre oceanfront site on the West Bay […]
CIG anxious for Ironwood deal
(CNS Business): The Cayman Islands premier has said that he and the government are anxious to get a deal to facilitate the proposed Ironwood development in Frank Sound. But despite holding a press conference this week with the designers, developers, financiers, engineers and top professional golfer Arnold Palmer, it was revealed that government has still […]
Registered valuers not necessarily qualified
(CNS Business) Updated: The Cayman Islands is the first county in the Americas where all valuations undertaken by chartered surveyors must be registered valuers, a scheme that was introduced by the local chapter of the Royal Institution of Chartered Surveyors. However, while the Valuer Registration scheme regulates valuation reporting standards, clients should be aware that […]
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