Cayman Islands' housing market sluggish
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The housing market in the Cayman Islands remains weak. During the first eight months property transactions were down on 2011 (though with slight increases from May to August 2012). However, the figures are an improvement on the same period in 2010, according to the Cayman Islands Real Estate Brokers Association (CIREBA).
In October 2012, the average sales price for condominiums was CI$ 194,924 (US$ 237,711) according to the Cayman Islands’ Lands and Survey Development 2012 statistics. For residential properties, the average sales price was at CI$ 291,741 (US$ 355,780).
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