Cayman’s on the up and up! land prices increase in 2014! – Katar Investments

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Cayman’s on the up and up! land prices increase in 2014!

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Following a hugely successful trip to the Cayman Islands our research team has confirmed our vision that the Cayman Islands offer a realistic and durable real estate investment strategy. As the economic recovery gains momentum, construction in the Cayman Islands is in a boom!

 

Increasing tourism and several major projects are driving demand, not just for more hotels and condominiums, but for everything that the modern tourist and residents needs to go with them, such as new roads, bigger airports, schools, medical facilities and shopping malls.

 

Due to the overwhelming demand for residential property in the Cayman Islands which is reported to be in excess of 20,000 new homes. The shortage of suitable construction sites in the capital has caused a shift in development to Northside and the East End. To coincide with this CrownWorld have agreed contracts to begin construction early 2014. Initial build projects from CrownWorld will see the construction of 14 Eco Suites on Grand Cayman and two beach villas on the Sister Islands.

 

Big news out of the Cayman Islands is the COMPLETION of Phase One of Health City Cayman Islands with first patients expected to check into the hospital in February 2014. Upon completion the $2 billion dollar project is expected to be the largest private development in the history of the Cayman Islands.

 

Health City Cayman Islands is being constructed as part of a 200-acre site in the District of East End on Grand Cayman Island. It will be built in phases over 15 years and ultimately will include a 2,000 bed tertiary-care hospital, a medical university, an assisted-care living community as well as hotels, restaurants, grocery stores, retail outlets, and other businesses needed to serve the thousands of people who will work at the site. Phase One of the hospital will focus on cardiac surgery, cardiology and orthopaedics.

 

The following attributes have contributed to significant increase in land values in the Cayman Islands:

 

–       Strong commitment from the government to promote and stimulate long-term investment in all sectors of the economy.

 

–       Airport expansion programme, which will triple terminal capacity and facilitate new air routes between USA, Canada, South America and Europe.

 

–       Renowned Indian Heart Surgeon, Dr Devi Shetty, has completed phase one of a billion dollar hospital and medical university which will accept ‘Medical Tourism’ patients from February 2014.

 

–       New cruise ship terminal allowing the larger, more luxurious ships to dock without the need for tender.

 

–       More luxury hotel brands, in addition to the recently completed 5 star Ritz Carlton Resort.

 

–       New urbanisation; Further plans to develop Camana Bay, a new $2.5 billion dollar project by the Dart Corporation.

 

–       New Enterprise Zone: Private developers of the technical science zone say that it could create as many as 10,000 jobs in the Cayman Islands and generate $500m in revenue.

 

–       An increase in airline passenger capacity to accommodate the ever increasing tourism numbers to the Sister Islands

 

 

The coming to fruition of these ambitious projects is proof of the Cayman Islands ever expanding economy which will increase population, increase the demand for housing and therefore increase the value of land.

 

PRICE INCREASE

A price increase and payment term decrease will take effect from 1st January 2014.

 

–       The Eco Communities, Little Cayman & Cayman Brac

Purchase Price INCREASED by £20,000 from £70,000 to £90,000

Payment Term decrease 5 years, Interest FREE

£90,000           Purchase Price

£1,500             Reservation Fee

£12,500           Deposit Balance

£3,800             Quarterly Instalment

 

–       The Eco Communities, Grand Cayman

Purchase Price INCREASED by £50,000 from £149,000 to £199,000

Payment Term decrease 5 years, Interest FREE

£199,000         Purchase Price

£2,000             Reservation Fee

£28,000           Deposit Balance

£8,450             Quarterly Instalment

ACT NOW and TAKE ADVANTAGE before the 1st January 2014.

Please contact us as soon as possible if you are considering land investment in the Cayman Islands.