Cayman Islands Real Estate News and Information

From our Cayman Islands Real Estate Blog

Cayman Brac Shangri-La

Located on Cayman Brac, this 3100 sq. ft. home is unique in design and layout. Situated on 1 acre of Bluff edge land, half of the parcel is undeveloped in its natural state. With 2 bedrooms and 2.5 baths, the open floor plan is surrounded on the bluff side by a large screened porch all sitting above an earth basement. There is an attached garage with laundry and storage facilities. Priced to sell $399,000CI. Contact your Cayman Brac Realtor for more information.

Duty Cuts Remain for 2014
Duty on fuel and building materials remains reduced throughout 2014. Marco Archer said, “The extension of these concessions is consistent with the Government’s ongoing efforts to stimulate growth in the economy, and I encourage all developers and other stakeholders to accelerate their construction activity during this further concessionary period.”
Normal import duty on fuel is 75 cents/gallon and duty rate on building materials ranges from 17-22%. The reduced duty is currently 12.5 cents/gallon for gasoline for Cayman Brac. 100% waiver on building materials to Cayman Brac and Little Cayman remain in effect. 

Cuba via Cayman Brac
Talks are underway to establish a Cayman Airways flight from Florida to Cuba via Cayman Brac as early as next year, according to Tourism Minister Moses Kirkconnell. Preparations for the processing of international flights have been underway which includes an x-ray machine for checked baggage. "Our goal is to be completed in February, so that Cayman Airwatys can have flights coming in and out of the Brac on the Cuba route," Mr. Kirkconnell told the Caymanian Compass.

With this added influx of travelers, investors may consider a new hotel venture at the Divi Tiara site. which Neil van Niekerk, president of the Sister Islands Tourism Association, said Cayman Brac has sorely needed for several years. "The Brad has needed a new hotel since the Divi Tiara Beach Resort closed in 2007." Mr. van Niekerk said. "I understand they would be interested in investing and rebuilding at that site if the airlift was there."