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Dec 02, 2009
Reasonable rental yields on Cayman Islands condominiums
Last Updated: Dec. 02, 2009
CAYMAN ISLANDS condos-mixed COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
75 sq. m. 299,475 n.a. n.a. 3,993 n.a.
120 sq. m. 522,240 2,814 6.47% 4,352 23.45
160 sq. m. 759,360 4,146 6.55% 4,746 25.91
225 sq. m. 1,339,875 5,153 4.61% 5,955 22.90
CAYMAN ISLANDS condos-7 Mile
120 sq. m. 662,880 3,185 5.77% 5,524 26.54
160 sq. m. 1,049,600 4,963 5.67% 6,560 31.02
225 sq. m. 1,751,175 5,603 3.84% 7,783 24.93
385 sq. m. 4,503,730 n.a. n.a. 11,698 n.a.
CAYMAN ISLANDS condos-other areas
75 sq. m. 268,725 n.a. n.a. 3,583 n.a.
120 sq. m. 355,320 2,526 8.53% 2,961 21.05
160 sq. m. 479,360 2,600 6.51% 2,996 16.25
225 sq. m. 615,150 n.a. n.a. 2,734 n.a.
CAYMAN ISLANDS houses-mixed
250 sq. m. 801,500 n.a. n.a. 3,206 n.a.
500 sq. m. 2,264,500 n.a. n.a. 4,529 n.a.
1000 sq. m. 7,398,000 n.a. n.a. 7,398 n.a.
Districts researched:
Cayman Islands: Cayman Brac, East End / High Rock, NE Coast / East Inland / Colliers, Northside, Rum Point, Seven Mile Beach, South Sound, Spotts / Prospect, West Bay
Note: 1. We did not use our usual method of computing the rental yields because rents are seasonal in the country. Instead, we used the expected/projected rental income in our computation.
         2. The first table, Cayman Islands condos-mixed, is a combined study of the second and third tables - Cayman Islands condos-7 Mile and Cayman Islands condos-other areas.
         3. Cayman Islands condos-7 Mile covers only the condos located in & Mile Beach while Cayman Islands condos-other areas, covers the condos located in the other upscale areas stated above.
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Our Cayman Islands rental yields data this year covers condominiums (only). Reasonably attractive yields can be earned, varying from 3.8% at the unattractive end, to 8.5% on better-performing condominiums, which in our view are smallish condominiums outside 7 Mile Beach.

Our rentals information is however sketchy, because so many lets are short-term. We therefore used projected/expected incomes in our computation, which means that the rental yield figure is much less reliable, than it would be if we used on advertised prices and rentals.

Sale prices. Our best estimate is that sale prices have moved little since 2005. There appears to have been an upward blip in 2006/7, but that has been followed by a downward movement in prices during 2008.






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