As the newest luxury condo development on Seven Mile Beach, everyone wants to know more about what it means to own a home at The Residences at Seafire.
We spoke to Ruth Gustafsson, Sales Executive at Provenance Properties, about why The Residences at Seafire is the perfect property to buy a condo on Seven Mile Beach in Grand Cayman right now.
Offering immediate occupancy, The Residences at Seafire is a 62-unit, 10-storey seaside development that shares tropically landscaped grounds and cascading swimming pools with the adjacent Kimpton Seafire Resort + Spa. From ultra-chic studios to stately five-bedroom residences, the diverse floorplans offer choices to suit every taste. Characterised by ample outdoor living space and interiors boasting natural light, many of the residences showcase stunning sea-to-sound views of both Seven Mile Beach and the North Sound, a rarity in Grand Cayman real estate.
Here’s what Ruth had to say about The Residences of Seafire and why this should be your next home or vacation property on Grand Cayman.
What makes The Residences at Seafire the ideal place to own property in the Cayman Islands?
The Residences at Seafire provides a residential environment and convenient access to an amenity-rich AAA Five Diamond award-winning resort. The residences are located in a separate building that is steps away from the neighbouring Kimpton Seafire Resort + Spa.
You can immerse yourself in the vibrant energy of the resort’s public spaces, or you can retreat to your private terrace or the exclusive rooftop terrace at The Residences - the choice is yours. You can have access to a dedicated concierge, a house car, spa, gym, house accounts for the restaurants and you can even use in-room dining and have breakfast, lunch and dinner delivered right to your front door.
How many residences are available for sale and how does this compare to similar properties in the Cayman Islands?
The Residences at Seafire is just over 40% sold out. All studios are sold out, but we still have excellent options available for one- to five-bedroom condominiums. Earlier this year, we were excited to sell our highly coveted five-bedroom penthouse, designed by award-winning interior designer Martyn Lawrence Bullard.
This is a highly competitive market due to the number of new projects in the pre-construction phase that have been introduced in the last two years. This trend slightly slowed our sales pace because potential buyers are taking more time to look at the many options available; however, we ultimately attract a lot of buyers because The Residences at Seafire is completed and available for immediate occupancy.
What are the strata fees at The Residences at Seafire and how do these compare to other properties in the Cayman Islands?
Our strata fees are US$1.71 per square foot (per month) which is competitive with other luxury, beachfront properties in the Cayman Islands.
This fee includes access to all Kimpton Seafire Resort + Spa amenities and access to The Nest, the private owners rooftop lounge, plus cable, internet, common area utilities and maintenance, common area landscaping, waste management, underground parking, fire, earthquake and hurricane insurance, property management, dedicated concierge and 24-hour security.
For more on the costs of living at The Residences at Seafire, click here.
What other expenses should owners at The Residences at Seafire expect to pay on a monthly basis?
Aside from monthly strata fees, owners pay their own utility bills (power and water). The Residences feature geothermal cooling systems, and energy-efficient windows, doors and appliances, so existing owners report they find their monthly utility costs to be very reasonable. Many owners also opt to purchase contents insurance. Non-fee-based amenities at the resort (e.g. use of the gym, swimming pools, non-motorised watersports, etc.) is complimentary. Each residence also comes with a parking space. There are no property taxes in the Cayman Islands.
What are the amenities owners of the Residences as Seafire enjoy?
As a resident, you will have access to all the incredible amenities at the adjacent resort and you can enjoy additional benefits on either a complimentary basis or at a preferred rate. Owners have access to the gym, non-motorised watersports equipment, beach volleyball courts, beach furniture and towel service at the beach and swimming pools, walking trails, a monthly resident cocktail reception hosted by the resort and more.
You’ll also enjoy varied discounts on room rates, services at The SPA at Seafire, swimming pool and beach cabanas, and food and beverage services.
What is something many people do not know about owning at The Residences as Seafire?
It’s been so special for me to have the opportunity to sell homes with ocean-to-ocean views. After all the years I have been selling beachfront homes in the Cayman Islands, this is not something I have seen often.
Other beachfront properties tend to have lower ceilings and darker interiors but at Seafire, we have created wall-to-wall open windows that bring in so much light with views of both the Caribbean Sea and the North Sound.
As one of the newest residential products on the beach, they are move-in ready and can be customised for anyone.
The Residences at Seafire are absolutely beautiful and present the perfect combination of being able to live in a fully serviced building but still maintain that sense of privacy and home life. Plus, every residence gives you that “Wow!” factor with the phenomenal ocean views. It does not disappoint.
Is it easy to buy property at The Residences at Seafire?
It is very easy. You have a team of experts on the property who guide you through the process. You’re working with a company that can take you from A to Z when you move here, whether you’re relocating on island or overseas, we are here to help you with every aspect.
As far as fees to be aware of, both residents and non-residents will pay a one-time stamp duty of 7.5%. To find out more about how buying property in the Cayman Islands is a relatively simple process, we’ve created a guide which can be accessed here.
Contact Ruth and the team today to set up a viewing at The Residences at Seafire.