The Current State of Commercial Real Estate in Grand Cayman

Written by: REMAX.ky

The Cayman Islands is one of the largest business centers in the Caribbean, with a financial industry that rivals most other nations. Quite simply, Grand Cayman is thriving. Many of these big corporations owned downtown commercial real estate in Cayman, but there has been a shift to Seven Mile Beach as well.

Investing in Commercial Property

Office buildings have unique selling points that don’t apply to homes. For one, Cayman Islands commercial property must offer both prestige and comfort. With so many new buildings in the area, that keeps owners competitive and the town beautiful. Business owners, especially those in finance, expect the finest in technology and comforts.

Building Classes

Those in the know about commercial properties tend to refer to two types of building classes. The first group, called “class B,” is on the more affordable side. While high-end tenants have moved into the second group, called “class A,” there are good deals to be found on rent in the class B buildings. This has hurt the bottom line of some building owners, but it’s also opened up the market for buyers and renters who aren’t in that top income bracket.

Final Thoughts

The commercial and residential markets in Grand Cayman are very different from one another. Real estate in Grand Cayman is also susceptible to location, which dictates pricing. Especially with regards to commercial buildings, which is why high-rise class A buildings tend to pull in the highest rental incomes for their owners.