According to RE/MAX Cayman Islands, the sister islands to Grand Cayman are seeing some interesting developments. Cayman Brac is seeing a newly remodeled beach resort, promising to bring more people to the small island, while Little Cayman is seeing some impressive developments that signal investors are beginning to pay attention to these smaller portions of paradise. Why so much interest? There are two major reasons why investors might be looking to buy or remodel property in the Cayman Islands.
Airport Expansion
What does an airport have to do with Cayman Islands commercial property? More than you might think. With a larger airport, more business people can travel to and from the island. That will make the banking sector here stronger, which brings more jobs and opportunity to the island. The more people who can afford to live here will make that choice over time once they’ve gotten acclimated. Young people enjoy it for the night life, older people for the serenity. This $55 million dollar project is a huge indicator that interest is growing.
Bypass Widening
A new $300 million expansion to open Camana Bay up will alleviate traffic buildup from Georgetown to West Bay. After all, what’s the point of buying Cayman luxury real estate if your commute is too long?
The government is beginning to see the wisdom of expanding its infrastructure, and there is more than enough money coming in for them to do so. Coupled with the recent move to improve upon Little Cayman real estate, and Grand Cayman begins to look promising for its growth potential.