Grand cayman leads international buyer demand

Grand Cayman is leading international buyer demand for property within the Cayman Islands, according to TheMoveChannel.com's latest At a Glance report. The site's infographic shows that the island now accounts for half of searches for real estate in the archipelago: 49.7 per cent in the 12 months to October 2015, up from 43 per cent during the same period two years ago.

Little Cayman remains the second most sought-after location, accounting for almost one-third of searches (31 per cent) in the last year, compared to the 12 months to October 2013, when it accounted for one-fifth (19.2 per cent). Cayman Brac, meanwhile, saw its appeal slide, attracting 18.4 per cent of searches, down from 27.6 per cent.

Despite the apparent dip in Cayman Brac's popularity, though, the island emerged as the most attractive hotspot among buyers, with the area receiving 69 per cent of enquiries, up from 33 per cent in 2013. Little Cayman, on the other hand, saw its share of enquiries fall from 65 per cent to 29.7 per cent. Grand Cayman, despite being the most popular, only received a few enquiries, with Rum Point (in North Side) the most popular region.

The At a Glance infographic series also charts buyer activity on Google. Searches for Cayman ISlands property have surged in the past two years, reveals the research, with buyers particularly interested in "houses for sale in Cayman Islands". Searches for general terms "Cayman Island property" and "property for sale in Cayman Islands" also increased.

TheMoveChannel.com Editor Ivan Radford comments: "The Cayman Islands continue to prove a popular destination on TheMoveChannel.com, appearing in the site's Top 10 destinations every few months. Two years ago, Little Cayman was the source of most enquiries from buyers, but Cayman Brac has now overtaken as the most popular destination. Both reports, though, have seen Grand Cayman attract the most searches, partly thanks to the everlasting appeal of its infamous Seven-Mile Beach. This could be because of lower prices on the smaller islands, but is also likely to be due to a relative lack of supply: at the time of writing, there are properties listed for sale on TheMoveChannel.com on Cayman Brac, but not on Grand Cayman. The island may be the biggest, but it's learned the hard way that supply needs to meet demand."