What is an extension or loft worth in the Cayman Islands?
These are works to a house
Extensions, lofts, garage conversions and annexes assume a property you can build on or into — a house, bungalow or cottage with its own footprint. None of them applies to a flat or an apartment, where the floor area is fixed and the fabric is shared. The £/m² basis below is the whole island's stock, flats included.
Space in West Bay is asking about CI$6,043 per m² (155 listings there publish a floor area). Build costs below are published per-m² ranges with a 50% island premium. Neither is a quote, and value added is never the whole story — the first extension on a small house adds more than the third on a large one.
| Work | Size assumed | Likely build cost | Value that space would ask | Difference |
|---|---|---|---|---|
| Demolish and rebuild | 140 m² | CI$588,000 | CI$846,020 | +CI$258,020 |
| Two-storey extension | 45 m² | CI$148,500 | CI$271,935 | +CI$123,435 |
| Single-storey extension | 25 m² | CI$90,000 | CI$151,075 | +CI$61,075 |
| Loft conversion converted space, valued at 85% of the local rate |
22 m² | CI$57,750 | CI$113,004 | +CI$55,254 |
| Annexe or outbuilding converted space, valued at 75% of the local rate |
30 m² | CI$94,500 | CI$135,968 | +CI$41,468 |
| Garage conversion converted space, valued at 70% of the local rate |
16 m² | CI$30,000 | CI$67,682 | +CI$37,682 |
What this is doing, exactly
- Value is the local asking rate per m² multiplied by the space added — discounted for conversions, where a converted garage or loft does not fetch what new build does.
- Cost is a published per-m² range for that kind of work, adjusted for Cayman Islands. It excludes professional fees, planning fees, VAT or GST, and anything the drawings show that the description does not.
- Granted is this island's own record for that kind of application. It is not a prediction about yours.
- A positive difference is not a profit. It ignores the cost of money, the months of disruption, and the fact that a buyer pays for a house, not a spreadsheet.
Seven Mile Beach CI$19,903/m²Seven Mile Corridor CI$9,568/m²George Town CI$9,042/m²Rum Point CI$8,561/m²West Bay CI$6,043/m²Prospect/Spotts CI$5,638/m²North Side CI$5,376/m²South Sound CI$5,290/m²Midland East CI$5,043/m²East End / High Rock CI$4,713/m²Savannah / Lower Valley CI$4,277/m²Bodden Town / Breakers CI$4,271/m²