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Howard McLaughlin, Kuavo Cayman Broker/Owner, discusses how the current global economic climate might affect the Cayman real estate market in 2020.

Howard McLaughlin, Kuavo Cayman Broker/Owner, discusses how the current global economic climate might affect the Cayman real estate market in 2020.

As I write this, on the evening of ‘Black Monday’ 2020, global stock markets have just suffered their biggest fall since the 2008 recession, caused by uncertainty arising from the rapid advance of the Coronavirus (COVID-19) and oil price-wars between Saudi Arabia and Russia. So what could this mean for the Cayman real estate market?

At this stage, there is some discussion around the supply of building materials and whether this might become an issue for developers as the production and transportation of goods from China and Europe is affected by the spread of Coronavirus, but we know that contingency supply lines have already been established to safeguard against completion delays on more than one project on the island.

There is also concern amongst investors who purchased property for the purpose of short-term holiday rentals. Some are, instead, capitalising on the high demand and premium rental values in the long-term rental market, resulting from the economic substance regulations, the growth of on-island companies and a lack of available inventory.

The good news is that historically, the Cayman real estate market has performed remarkably well in times of economic uncertainty. It is this stability that makes our islands so appealing to overseas investors. Both consumer and developer confidence remains strong, with high demand driven by motivated on-island purchasers as well as overseas investors. With no sign of this demand diminishing any time soon, we remain optimistic that 2020 will be another solid year and will demonstrate how resilient the Cayman real estate market is.


Meet Samantha (Sam) Twiss, Senior Sales Associate at Kuavo and one of the most experienced and recognisable faces in the Cayman Islands real estate industry.

“Sam and the Kuavo team were a dream to work with, they are very knowledgeable, experienced and well-connected. As first-time buyers, Sam patiently answered our many questions, was always available and helped us all the way. In November we put in an offer on our dream home and moved in before Christmas! We’re so happy we chose Sam Twiss as our realtor and Kuavo.” – Caitlin & John Dunne

If you’re looking to buy, sell or rent in Cayman, Sam would love to hear from you and provide you with a complimentary property valuation.

345.516.8951

 

 

 

 

 

 

 

 

 

 

 

 

Visit KUAVO Cayman for full property information and more listings.

 


For more information contact KUAVO Cayman:

Tel: 345.327.2300
Email: 

Visit: www.kuavo.ky 
Unit #12 Breezy Castle, 125 Owen Roberts Drive, George Town
Member of CIREBA


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