Realtor: Bill Baldwin
Bill Baldwin, Owner at Paradise Properties, Cayman Islands shares his real estate drive and his island knowledge.
There are some great deals available in the current market, so purchasing now will serve you well in the future. Naturally, Seven Mile Beach is always 'hot', but look at the areas surrounding the Ritz-Carlton and Dragon Bay developments, with high-end neighbours investments are strong. In addition, with several large projects pencilled in for the eastern districts, opportunities in East End are definitely worth researching.
What is your number one tip for buyers?
Choose a certified CIREBA agent -– they are hard working, have good local contacts and are knowledgeable. They also have access to all the properties available in the market via the local MLS system. But, above all, ask around for references, on a small island if an agent is good you will hear about it.
What is your key piece of advice for sellers?
It is a competitive market, so the right price is key. Similar to buyers, choose a CIREBA agent that can offer you a good marketing plan with innovative solutions, an office location with high visibility and access to the most powerful real estate tool, the MLS. These are the ingredients for a successful sale.
Describe your journey to starting your own real estate agency?
Prior to working in real estate, I was self employed. In 2007, I chose to follow in my father’s footsteps and joined one of the island’s leading real estate companies. In 2011, mixing the professional experience I had gained, with my entrepreneurial spirit, 31 years of living in Cayman, local connections and marketing and technology skills, I decided to open my own boutique real estate agency. This allows me to share my knowledge with like-minded agents.
What do you enjoy doing in your spare time?
My passion is boating, and so, I started a charter company that fulfills my every whim of diving and cruising around the island. As a member of the flying club, I enjoy taking to the local skies in our Cessna when I have the opportunity. But, I find that playing tennis, having a glass of fine wine and spending time with my fiancée always makes for a good day.
Cayman Islands Real Estate Overview
The Cayman Islands real estate market is maintaining an impressive growth this year in comparison to 2010’s numbers. Year-to-date sales volumes up to the end of August 2011 show a 203% increase over the same period during 2010. In addition, there are a number of major commercial projects on the horizon for the Cayman Islands, including the Shetty Hospital, the Airport and Cruise Port projects and the Cayman Enterprise Zones, which is a sign that developers have confidence in the local economy and real estate market. The tourism industry also remains strong, further buoying the local economy. With all signs pointing to a strengthening economy, now is the time to buy, especially as prices are slowly beginning to increase.
Remember, a real estate investment in the Cayman Islands is not just about the structure itself but includes: a high quality lifestyle; convenient location; warm weather; natural beauty; friendly locals; tax neutral; superb culinary offerings; a sophisticated social network; modern communications and a stable infrastructure.
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