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ARTICLE · 08 MARCH 2024

2023: Cayman Property Overview

Collas Crill
Collas Crill
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Collas Crill

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2023 was another big year in the Cayman Islands for Real Estate, with figures revealing that while the number of transactions were lower than previous years...

Cayman IslandsReal Estate and Construction
Gina Berry
Gina Berry
Alistair Wade
Alistair Wade
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2023 was another big year in the Cayman Islands for Real Estate, with figures revealing that while the number of transactions were lower than previous years, the value of transactions have increased year-on-year, explains Senior Associate Alistair Wade.

Property transactions

Total freehold sales surpassed the US$1Billion mark for the third year in a row with US$1,316,557,370 of consideration changing hands throughout the year. Whilst this figure is down year-on-year compared to both 2021 and 2022, 2023 is still generally considered to have been another strong year when taking into account the effect the pent-up sales lag during covid had on 2021/2022 figures and the interest rate spike mid year.

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