Property prices are rising strongly in Cayman Islands
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After several challenging years, Cayman Islands’ property market is now growing rapid again, amidst increased consumer and investor confidence. House prices are rising strongly. Property transactions are picking up. Residential property construction is also rising, though more slowly.
During the first seven months of 2016, the average value of freehold property transfers rose by 23.8% to KYD389,602(US$475,124) over the same period last year, based on figures from the Lands & Survey Department. The average value of freehold property transfers rose by 6.7% y-o-y last year, after a 9.5% decline in 2014.
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