A home in Grand Cayman’s Vista del Mar community has sold for around $8 million, according to Cayman’s International Realty Group, which handled the transaction.
The sale was a record price for a luxury single-family home in the Cayman Islands, according to an analysis of Cayman Islands Real Estate Brokers Association history.
The property was listed for $9.45 million and went under contract within 90 days, the company said.
“The sale, at around US$8 million, indicates that the ultra-luxury sector of the residential market is really starting to establish itself and confirms that international investors are seeing real value in Cayman real estate product,” said Jeremy Hurst, owner/broker at IRG. “It comes on the back of other ultra-luxury market sales on Seven Mile Beach during the first quarter of 2016 and strong sales across the island in both the ultra-luxury, high end and mid-end market sectors.”
The eight-bedroom, 8.5-bathroom property is located on a 1.25-acre lot that includes a double dock allowing birthing of boats up to 60+ feet in length.
The home, which was built in 1998, is located at 27 Ironshore Drive in Vista del Mar.
IRG said last month was an active one in the luxury market in Grand Cayman, with another luxury listing selling in Britannia Estates, among others.
— CJ Staff