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Property Cayman advances initiative aimed at boosting young Caymanian home ownership

Development 17 May, 2022 Follow News

Members of the Property Cayman team have been active participants in helping fund and grow the Property Cayman Cares initiative

Local real estate brokerage Property Cayman started a charitable initiative aimed at finding and funding meaningful solutions for affordable housing in the Cayman Islands.

The Property Cayman Cares program, created in 2020, not only raises funds but also seeks to bring industry stakeholders and government together in the spirit of collaboration.

“We want to play our part in making a lasting difference in our community,” said Property Cayman Owner Mike Joseph, a Caymanian. “Demand is strong for Cayman Islands real estate because this is such a unique and frankly, incredible place to live, invest and raise a family. However, that demand has also increased prices to the point where it is difficult for some – particularly young Caymanians – to purchase their first homes and get on the property ladder.”

Property Cayman agents donate a percentage of every commission to the program while salaried staff donate a set amount. The company itself then matches each dollar.

The team raised nearly CI$ 37,000 by the end of 2021, over CI$ 13,000 so far in 2022, and has set a goal of raising CI$ 1Million by 2035.

“Sure, we have a long way to go. But we hope our team’s steadfast commitment to being a part of the solution will create momentum leading to meaningful solutions,” Joseph said.

Several businesses have already pledged their support of the program and Property Cayman hopes to leverage relationships and partner with additional vendors, developers, contractors and other industry stakeholders to bolster the initiative.

The program is underwritten by educational components focused on providing property advice and related guidance on lending options, stamp duty waivers for first-time Caymanian buyers, and budgeting for housing costs and home insurance.

“We don’t just want to say we do things differently. We want to actively make a difference,” Joseph said.

The program continues Property Cayman’s legacy of giving back to the Cayman Islands community. Property Cayman staff logged more than 550 “give back” hours over the past two years, supporting entities like Big Brothers Big Sisters of the Cayman Islands, 100 Men that Give a Damn, Jasmine and the Humane Society. The company is also proud to serve as a sponsor for organizations like; The Cayman Islands Sailing Club, Cayman Islands Rugby Club, Inclusion Cayman, and the Special Olympics of the Cayman Islands.

For more information on Property Cayman Cares or to find out how you can get involved, contact Louise Carroll at 326-1299 or email louise@propertycayman.com.

Property Cayman was established in 2003 and the staff boasts more than 75 years of combined experience in the industry. The company prides itself on its unique approach, offering unparalleled customer service and marketing innovation, delivering an exclusive and effortless property journey that puts clients above the commission. Property Cayman Cares is a registered non-profit organization.

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