Expert: Robert Clark - 11/5/2009

Question
Hi,

I have been considering buying a plot of land on the island. Is it possible to find reasonable building costs. I would like to build a small 1 bedroom cottage on the land initially and add to it down the line. Any idea what the average cost of construction is ?

Any advice would be appreciated.

Regards,

Rodney Davis

Answer
Rodney
I am checking with one of my contacts who is in the construction industry in Cayman - I'll get back to you later.
Robert


Rodney
The feedback I got was around CI$115-$120 per square foot depending on finishes.  However, on the expatfocus.com website at http://www.expatfocus.com/expatriate-caymans-buying-property I found this estimate: "Current construction costs average CI $300 per square foot; costs including land value and furnishing are usually at least twice that amount".  I guess that the moral of hte story is that you need to shop around for the construction firm that does the work for you.

If you want the details for my contact, let me know!

Regards
Robert