By Adrian Bishop, Editor, OPP Connect

Milestone Properties has become an associate of Chestertons, which now has 50 branches in 13 countries in five continents, as the Caymans market sees real estate sales rise 69% in the year to June 2014

Top international estate agency Chestertons is expanding into the Cayman Islands, where sales have jumped almost 70% in the last year.

Milestone Properties, which is based in the Cayman Islands, has become an associate of Chestertons and is its 50th branch in 13 countries in five continents. Most are in London, UK.

International demand, particularly from North America, is expected to rise with the expansion of the international airport in the Caymans.

Sophie Miles, owner of Milestone Properties says, “The property market in the Cayman Islands has been picking up significantly over the past months, with the number of property sales increasing by 69% compared to June 2013 and a particularly high demand for high-end properties, priced from £750,000 to £2million.”

Neville Page, Director of Chestertons’ International Department says, “It is one of our key objectives to offer our clients the widest selection of international, high-quality properties alongside expertise on the local market.

“The addition of the Cayman Islands and partnership with Milestone Properties is an important step for our portfolio as the region has recently experienced a growing number of UK buyers, particularly professionals working in the offshore finance industries as well as retirees who are attracted by the Cayman Island’s stable property market and safe community.”

The launch of the next residential phase of Camana Bay and the opening of the ‘Shetty’ hospital, which will be a 2,000-bed elective surgery hospital and a boom for medical tourism in the region, are also expected to boost demand from overseas property buyers.

Among Cayman properties on sale is the beachfront condo development, Old Prospect Groves at Old Prospect Point for an asking price of KYD498,000 (around US$600,000.)

The refurbished two-bed turnkey condo is on Old Prospect Point’s reef protected beachfront and includes a kitchen with Bosch appliances and furniture package and access to a private patio.

Residents enjoy the use of the private pool, shaded pergolas and deck with steps to the sandy beach.

For more on this story go to: http://www.opp-connect.com/03/10/2014/international-agency-expands-into-cayman-islands/