Understanding The Rise And Fall Of Property Values In The Cayman Islands: When And How You Should Sell

At the present moment, homeowners in the Cayman Islands can enjoy increased property values and property transfer profits. If you were a homeowner there prior to 2012, you saw a dramatic drop in the value rate, leaving you with a home you could not sell. In mid-2014, that changed quickly, as the significant drop in 2012 almost completely reversed itself. It is a seller's market now, and if you are looking to sell your Cayman Islands home, you could gain big. Here are your best chances for selling your home and benefiting from the current seller's market.

The Location of Your Home

Seven Mile Beach and Grand Cayman Island are where the money is at. Dozens of multi-family homes, vacation rental properties and single family homes near the point are popping up every day, and if your home is anywhere near these real estate hot spots, you have a good shot at claiming a piece of the monetary pie. You could promote your home as either a vacation home, vacation rental home, or as a single family home and still do quite well. Many of these houses near you are currently selling for a quarter of a million American dollars to one million American dollars and above.

Selling While You Can

Real estate markets are fickle, no matter where you live. Look at the facts. Cayman Island homes dropped over fourteen percent two years ago, and jumped back up thirteen percent last year. Although these dramatic fluctuations could mean housing values are on the rise, it can also mean that your property value could drop again in the next year. At least if you put your home on the market now, you can sell it at a good price, increase the price as values increase, or get out and keep your home if the values drop.

Hiring a Real Estate Agent to Keep You Abreast of Market Changes

When you hire a real estate agent, like those at IRG International Realty Group Ltd, you have someone who can notify you when property values are about to rise or fall. It is like having an inside trader at the stock market on Wall Street. You know  when you can sell and sell for a hefty profit, or stay and hold until your profits meet your expectations. Additionally, your real estate agent can advertise and promote your Cayman property for you, even if you are living somewhere else in the world.