(CNS): An open public consultation has begun to help shape a much-needed policy to address the chronic shortage of affordable housing and other challenges in the local property market created by the ability of overseas residents to buy property here with no restriction or annual taxes.
The Ministry of Planning, Agriculture, Housing, Infrastructure, Transport and Development (PAHITD) said it is looking for “innovative ways to alleviate housing and sheltering challenges that our most vulnerable residents face and decrease the gap between Caymanians and their ability to purchase affordable homes”.
No draft policy or relevant guidelines have been supplied, and the inter-ministerial task force created in April 2022 to address the housing crisis in the Cayman Islands has still not made any of its findings public. It therefore appears that the government is looking for random ideas and starting this process from scratch.
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