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DCI introduces new rules in face of risks

DCI introduces new rules in face of risks

| 22/04/2019 | 22 Comments

(CNS): The Department of Commerce and Investment has introduced several new board policies that will come into force on Wednesday, 1 May, as part of its new role supervising designated non-financial businesses and professions, such as real estate agents and precious metal dealers. The DCI is now tasked with ensuring that measures are in place […]

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Developers vulnerable to money laundering

Developers vulnerable to money laundering

| 26/03/2019 | 83 Comments

(CNS): Developers who are selling their expensive properties directly to customers are not subject to any oversight, which the Caribbean Financial Action Task Force has said leaves them vulnerable to money laundering and terrorist financing. In the recently published mutual evaluation report for the Cayman Islands that outlined some of the threats this jurisdiction faces […]

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No end in sight for Cayman’s property boom

No end in sight for Cayman’s property boom

| 15/03/2019 | 121 Comments

(CNS): The steady rise in property prices on Grand Cayman continued its trajectory last year, with a significant jump in the sale price of Seven Mile Beach condos, which had a 35% increase over the average value of similar sales in 2017, according to the current Cayman Property Review by chartered surveyors, Charterland. There was […]

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Conference to ask if property boom can last

Conference to ask if property boom can last

| 06/12/2018 | 48 Comments

(CNS): The question of whether or not the local real estate boom of recent years is sustainable will be one of the main topics of discussion at the Cayman Islands Property and Construction Conference, to be held in March next year, hosted by the Cayman branch of RICS, the professional body of quantity surveyors. The issue […]

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Eastern Districts missing out on surge in property prices

Eastern Districts missing out on surge in property prices

| 28/05/2018 | 97 Comments

(CNS): The strong performance of the US economy has driven some phenomenal growth in property prices in the Cayman Islands over the past year, but in a bifurcated market the biggest gains have been strictly limited to the Seven Mile Beach peninsula. Property consultants Charterland, in their annual Cayman Islands Property Review, found that both the […]

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Realtor accused of misusing client’s cash

Realtor accused of misusing client’s cash

| 13/02/2018 | 0 Comments

(CNS): Antonio “Toni” Paolini (77), the one-time owner of Cayman Real Estate, appeared in Grand Court Tuesday on trial for theft. The real estate agent is accused of stealing $43,000 from Dr Dirk Belfonte, who gave the cash to Paolini as a deposit for a piece of land he wanted to buy. But according to […]

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