The East End of Grand Cayman Rental Market
Are you considering exploring the picturesque East End of Grand Cayman for owning a second home or rental property? If so, you’re in the right place. We have compiled valuable statistical data that showcases the thriving short-term and holiday rental market in this enchanting area. From property types to rental rates, these numbers paint a promising picture for prospective enthusiasts.
East End Rental Property – The Sea Spray
Diverse Rental Options
The East End of Grand Cayman offers a diverse range of rental properties. Of the listings available on platforms like Airbnb and VRBO, 88% are entire houses, providing guests with the privacy and space they desire. The remaining 12% consist of private rooms within a property, ensuring there’s something for every traveller. Surprisingly, there are no shared rooms in this market, emphasising the demand for private accommodations.
Bedroom Configurations
The data reveals that the majority of rental listings are one-bedroom units, making up 49% of the offerings. Two-bedroom properties account for 28%, providing flexibility for small families and groups. Additionally, 8% of listings feature three-bedroom and four-bedroom options, while 7% offer five or more bedrooms, catering to larger groups and families.
Desirable Amenities
To enhance the guest experience, the majority of rental properties in the East End of Grand Cayman offer essential amenities. A significant 71% of these accommodations are equipped with air conditioning, ensuring comfort in the warm Caribbean climate which offers an all year round summer. Additionally, 70% provide parking, Wi-Fi, and a fully equipped kitchen, while 63% feature a washer, offering convenience and the comforts of home.
Market Growth
Enthusiasts will be delighted to learn that the market in the East End is on the rise. There are currently 115 listings available, which represents a 5% increase from the previous year. This growth reflects the increasing popularity of the area and its desirability among travellers.
Attractive Rental Rates
The statistical data also highlights the potential for excellent returns on your getaway. The average daily rate for these properties stands at $422.9, with an average revenue per available room of $294. This translates into an average annual revenue of $106.3k per property, making it a promising choice for those seeking a retreat.
Guest Preferences
Understanding guest preferences is crucial for successful getaways. The most popular minimum stay duration in the East End is 4-6 nights, preferred by 45.3% of enthusiasts. This is followed by 3 nights and 7-29 nights, both at 16%, 2 nights at 5.3%, and 1 night at 17.3%. Knowing these preferences can help you tailor your property offerings to maximize the joy of your stay.
Rising Occupancy Rates
The average occupancy rate in the East End of Grand Cayman is an impressive 69%, reflecting a substantial 36% increase since 2022. Most visitors are choosing to stay for 5 days, marking a 12% increase from the previous year. This suggests that the area is becoming a more attractive destination for travellers seeking extended stays.
East End Rental Property – Grapetree Grove
Getaway Opportunities
For those considering a retreat in the East End of Grand Cayman, the potential for joy is encouraging. The average revenue for an entire place is $107.7k, with houses earning an average of $175.4k, and apartments generating $66.4k. These figures underscore the attractive opportunities in this thriving rental market.
In conclusion, the East End of Grand Cayman offers a vibrant and growing market for short-term and holiday getaways. With diverse property options, attractive amenities, rising occupancy rates, and impressive joy potential, this area presents a compelling opportunity for those seeking a memorable escape. Don’t miss out on the chance to be part of this exciting and fulfilling experience.
