Tag: rent prices
Realtor warns of more rent increases in 2023
(CNS): With the cost of residential rental accommodation already sky-high in the Cayman Islands, a local realtor is warning that rents could go even higher this year. Micheal Joseph, from Property Cayman and a veteran real estate agent, has said in his predictions for the property market over the next twelve months that the current […]
Landlords asked to be patient
(CNS): The government has no power to prevent landlords in the private sector from evicting tenants who cannot pay their rent, Premier Alden McLaughlin said at Tuesday’s press briefing. There is a growing number of people stuck in costly apartments, following a surge in rent prices last year, who are now on reduced pay or […]
CIG tackling rising rent and house prices
(CNS): The explosion in the cost of rent on Grand Cayman, which many believe is exacerbated by the growth locally in the use of short-term rental platforms like Airbnb, plus the rising property prices, often blamed on foreign investment, is having a huge effect on the cost of living. In response, Housing Minister Dwayne Seymour […]
Gov’t to take on housing challenge
(CNS): The premier has announced a number of measures that he claimed his government will be introducing over the next two years to tackle the mounting problem in the Cayman Islands of unaffordable housing. With rents soaring and developers concentrating on building luxury condos, working Caymanians can no longer afford to buy a home and […]
High rents help fuel inflation trouble
(CNS): The local inflation rate showed no sign of slowing down at the start of this year after a near 20% increase in residential rents in the twelve months between March last year and this led to an increase of 4.5% in the cost of living. Inflation has proved to be a thorn in the […]
