Q2 2026 Market Report

The Cayman real estate market strengthened further in Q2 2026, with every major indicator tracked showing improvement during the quarter.

• Properties sold faster and closer to their asking prices.
• Sales prices were higher compared to a year ago.
• The ratio of sales transactions to new listings reached its highest level in years.
• Rental rates exceeded levels recorded a year ago.

The quarter recorded the highest sales volume ever achieved through the CIREBA Multiple Listing System (MLS), reaching US$412 million across 256 transactions. This record performance was largely driven by the closing of sales at two major developments: The Watermark on Seven Mile Beach, where 11 transactions totaled US$124 million, and OneGT in George Town, where 52 transactions totaled US$48 million. These transactions reflect contracts that had been in place for months, and in some cases years, before reaching completion.

As a result, year-to-date sales volume has now surpassed US$700 million. A US$15.5 million sale at The Watermark also set a new Cayman Islands record for price per square foot, achieving US$3,875 per square foot for a 4,000-square-foot residence and surpassing the previous record by several hundred dollars per square foot.

Underlying demand remained exceptionally strong. Even after excluding transactions from The Watermark and OneGT, the ratio of condo sales to new listings reached its highest level in nearly a decade. For every 100 condominium listings added to the MLS, 97 units were sold, compared with the long-term average of 64 sales per 100 new listings.

Condo price growth has moderated as more sales data has become available. Our DOKHPI Condo Index now indicates prices are up 6% compared with 2025, lower than our Q1 estimate of 10%, but still ahead of the 5% growth recorded in 2025.

The rental market remained resilient in Q2. Although rental inventory increased, as is typical for the season, rents continued to rise, increasing from Q1 2026 and standing 9% higher than in Q2 2025. Combined with flat year-on-year growth in Q1, rents are now 4.5% higher year-to-date than in 2025.

Condo yields (defined as rental income net of strata and insurance divided by the sales price) remain steady at 5.5%.

Overall, the quarter's data supports cautious optimism. Condominiums are selling faster and closer to asking prices. The average condo sold in four and a half months and achieved 95.6% of its original asking price, reflecting continued strength in buyer demand.