Charterland Featured on Cayman 27 News

Cayman property sales fall, but…

Posted Tue, Apr 12th 2011, 10:12
(Grand Cayman – CITN) –

Charterland Limited recently released its 2010 Cayman property review and while it shows a decline in home sales, two partners of Charterland says the door may be opening for a better market.

“We get the feeling that we might actually have bottomed out. There was a sort of stagnation,” Charterland Partner, Simon Watson, said.

While home sales dropped by 35%, the price of homes dropped by about 9%. The commercial real estate industry is in a similar position. On average, the price of rent in 2010 remained steady. The report published by Charterland was put together using information from the Lands and Survey Department.