Experts in the Cayman Islands real estate industry noticed an increase in flights from key North American destinations in 2017. The tri-island Caribbean nation also recorded its best stay-over visitation figures and hit a real estate sales record of $696 million, increasing by a record-breaking 9 percent in 2017 versus the prior year, according to the most recent property report by Cayman Islands-based independent property consultants, Charterland. Experts say they believe that the increased amount of tourism is driving real estate sales.
Cayman Islands Realtors have also noticed that the increase in air travel and tourism can be partially attributed to an active 2017 hurricane season in North America that left Grand Cayman untouched.
“Last year’s storms brought an influx of people who were previously unfamiliar with Grand Cayman, but this has led to more sales as they have fallen in love with the island and are keen to make here their second home,” said Ruth Gustafsson, an associate broker for Provenance Properties Cayman Islands, the Cayman Islands Christie’s International Real Estate affiliate and the sole real estate brokerage for Dart Real Estate.