Grand Cayman’s Rental Market: Future Outlook

Article written by LIbrarily, legal news & articles

When the US decided to re-open relations with Cuba, there was some speculation about the Cuban tourism industry and its affect on island economies like Grand Cayman. If you’re considering purchasing a home or condo in Grand Cayman, don’t be swayed by this kind of thinking. Grand Cayman has a thriving financial industry, and is consistently ranked among the top spots in the world to vacation. The Cayman Islands feature beautiful beaches, privacy, night life, and they are a short boat trip or drive from nature. For this reason, property management in Cayman Islands is expected to improve well into the future.

“Wow” Factor

When tourists step off the boat, or when visitors exit the terminal at Edward Bodden Airfield, the immediate awe inspiring nature of the island hits you. You’ll see modern architecture, beautiful hotels, plenty of sunshine and moderate temperatures. You’ll also notice clean streets, low crime, high mobility and lots to do. Grand Cayman is very much self contained, and just a short plane ride to Florida if you need to get back on the mainland for any reason.

Future Prospects

There are several new developments along the Seven Mile Beach stretch of the Cayman Islands, which means new properties up for sale. These condos offer incredible amenities, like access to pools and beaches or easy access to shopping and food. The properties that hold and gain value are those that are well maintained, so it’s recommended to employ Grand Cayman residential property management for services when you’re not on the island yourself.

As long as you keep an eye on your property, make necessary repairs and reinvest, you have a good chance of gaining value over the long term if historical trends are anything to go by.

Bio: REM Services is a Grand Cayman industrial leasing firm that also handles residential property management for property owners living outside of the Cayman Islands.