Cayman Islands show record real estate sales for 2017

Real estate experts attribute Cayman Islands’ growth in tourism to an active hurricane season in North America.

Experts in the Cayman Islands real estate industry noticed an increase in flights from key North American destinations in 2017. The tri-island Caribbean nation also recorded its best stay-over visitation figures and hit a real estate sales record of $696 million, increasing by a record-breaking 9 percent in 2017 versus the prior year, according to the most recent property report by Cayman Islands-based independent property consultants, Charterland. Experts say they believe that the increased amount of tourism is driving real estate sales.
Cayman Islands Realtors have also noticed that the increase in air travel and tourism can be partially attributed to an active 2017 hurricane season in North America that left Grand Cayman untouched.

“Last year’s storms brought an influx of people who were previously unfamiliar with Grand Cayman, but this has led to more sales as they have fallen in love with the island and are keen to make here their second home,” said Ruth Gustafsson, an associate broker for Provenance Properties Cayman Islands, the Cayman Islands Christie’s International Real Estate affiliate and the sole real estate brokerage for Dart Real Estate.
The increase in visitation to the Cayman Islands can also be attributed to the Kimpton hotel’s clientele, who are attracted to the island by their loyalty to the brand. The Kimpton Seafire Resort + Spa and the adjacent condos for sale at The Residences at Seafire are popular among tourists who wish to settle down in the Cayman Islands.

The Residences at Seafire is a waterfront 10-story architectural gem. Developed by Dart Real Estate, it houses a collection of 62 distinct residences which marry contemporary Caribbean style with high design. The Residences are exclusively represented by Provenance Properties Cayman Islands, and are offering one- to five-bedroom condos starting at $1.5 million.
The Residences are also located along Seven Mile Beach, a popular tourist destination in Grand Cayman. Seven Mile Beach is the area of choice for real estate sales due to the number of Grand Cayman luxury properties for sale, according to the Charterland report. Data showed 130 beachfront condominiums sold on Seven Mile Beach last year, a 20-percent jump from 2016 purchases.

Photos courtesy of Provenance Properties Cayman Islands

Developer Dart Real Estate recently opened its premiere for-sale luxury residential development, The Residences at Seafire, on the acclaimed Seven Mile Beach in the Cayman Islands.

The development, located on the grounds of the AAA Five Diamond Rated Kimpton Seafire Resort + Spa, features 62 private residences on a 12-acre, full-service site. Owner’s of The Residences at Seafire will have unlimited access to the resort, offering three signature restaurants, an 8,500-square-foot spa and a state-of-the-art fitness center.
The new 10-story waterfront development offers one to five bedroom residences, with prices starting from $1.5 million. Owners have access to all Seafire resort amenities and a private owners’ swimming pool.

 
“We are thrilled to reveal our first Seven Mile Beach residential development, proving innovative design and luxury beachfront living can seamlessly create a space in which you have the best of the both worlds — the serenity of your private home and resort services at your fingertips,” said Jackie Doak, president of Dart Real Estate.
 

 

International interior designer Martyn Lawrence Bullard designed signature spaces at the development, including the lobby and a rooftop lounge dubbed “The Nest,” a 3,500-square-foot entertaining space with expansive views of Seven Mile Beach. With a signature woven driftwood bar, The Nest features lounging pits, cocktail areas, elegant outdoor sofas and luxurious cabanas, as well as an outdoor kitchen and private chef services for effortless entertaining.
Bullard’s high-end Caribbean style approach integrates with the luxury resort design conceptualized by SB Architects, recognized internationally for its planning and design of destination communities. The Residences at Seafire is designed for LEED® silver certification, on track to become the first large-scale residential property along Seven Mile Beach to receive this environmental performance rating.

Photos courtesy Dart Real Estate

Kimpton Seafire Resort + Spa located on Seven Mile Beach in Grand Cayman will welcome permanent residents at its new Residences at Seafire, set to open in November 2017.

By Kelly Potts

 

Upon entering the Kimpton Seafire Resort + Spa, I immediately noticed the rolling blue waves. Those waves, however, were not the crystal clear water of the ocean right outside the resort, but the details of the lobby ceiling, which was inspired by the island and its culture.

“It was important to us for Kimpton to have a personality and have attributes of the island,” says Jackie Doak, president of Dart Real Estate. “There are bespoke and subtle touches of Cayman culture throughout the resort.” From the homey library featuring a traditional Caymanian catboat suspended from the ceiling, to the seafarer-inspired ropes and knots throughout the resort, I found myself discovering new island-themed details at seemingly every turn.

I was greeted each morning with views of the ocean through a wall of floor-to-ceiling windows in my room, one of 266 guest rooms and suites all with ocean or North Sound views and private balconies. The endless amenities include a family pool, an adults-only pool, an oceanfront kids facility, a public multi-use trail and a luxurious spa and fitness facility with seven treatment rooms, a Hammam and a relaxing garden soaking pool.

Three diverse restaurants can be found on site: the open and beachy Coccoloba where Mexican street food meets Caribbean sea food; Ave, a chic atmosphere offering fresh seafood and produce infused into coastal Mediterranean dishes; and Avecita, offering an intimate, exclusive culinary experience at the chef’s table. For a quick smoothie, coffee or sandwich to-go before heading to the beach, the hotel is also home to The Pantry at Seafire.

The 12-acre site will soon welcome permanent occupants at its newest development, The Residences at Seafire. Offering 62 high-end Caribbean-style living spaces ranging from studios to four-bedrooms, the residences will range from $1 million to $8 million.

The Residences’ 3,500-square-foot rooftop lounge, “The Nest,” is just one of the public spaces in the development designed by renowned Interior Designer Martyn Lawrence Bullard, featuring shaded lounging pits and cocktail areas. “The Nest is the highest man-made point on the island and the best place to watch the sunsets that inspired Seafire’s name,” says David Seerman, vice president of sales for Provenance Properties of Cayman.

“I foresee decades of new development and prosperity for the island that will not only benefit vacation home buyers, but also the people who live and work in the Cayman Islands,” Seerman says of the island’s real estate market.

The Residences are a standalone structure elevated to 24 feet, creating a sloped effect leading from the building to the adults-only pool and the beach beyond. “The pool and landscaping cascades down creating beautiful views even from just the ground floor,” says Doak.
The views weren’t the only thing they had in mind when developing Seafire and the Residences, however. “We take into consideration where the breeze comes from, how the sun moves over the property, how landscaping and water and shading can cool an area,” says Doak, “You’re developing for people to become attached to what you develop and to develop a really strong reputation for meaningful placemaking.”

Whether it’s a subtle, unique piece of décor or a gorgeous, hidden garden, you’ll constantly discover new things to enjoy at this luxury resort. Doak says, “We hope to make our locations desirable and make you want to come back and experience it again.” And Kimpton Seafire Resort + Spa does just that.

Photos ©Don Riddle, courtesy Kimpton Seafire Resort + Spa

This story originally appeared in Unique Homes Summer 2017. 

Click here to see the digital version.

This property originally appeared in the Spring 2017 Edition of Homes & Estates Magazine.

In the fastest growing beach community on Grand Cayman, Frank Sound, this contemporary beach villa sits on 124 feet of secluded reef-protected beach with lots of fruit trees and flowering shrubs. Oceanus Villa boasts 11,190 square feet with remarkable heavy-duty construction on a 12-foot elevation. “The owner is an engineer and you can almost feel the 12” poured concrete walls and the 70+ augured pilings which anchor the home to bedrock,” says listing agent JC Calhoun of Coldwell Banker Cayman Islands Realty. Listed for $5.995 million, the home features 5 bedrooms, 7 baths fine fixtures, fittings and equipment, an open plan with high ceilings and lots of glass on 4 levels. “Contemporary, solid and spacious are the words which come to mind when I think of Villa Oceanus,” says Calhoun. “The design is so clean that we actually flew the drone inside the house while making the video.”

For more information, visit www.coldwellbankercayman.com.
Agent Information: JC Calhoun | jc@cirealty.ky | T. 345.945.4411 | Coldwell Banker Cayman Islands Realty

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