US consultants working on housing policy project: Cayman News Service

(CNS): Public Works LLC, the U.S.-based consultants hired by the UPM government to develop the Cayman Islands’ first housing policy, has begun work on the document, according to ministry officials. Since winning the $276,750 CI contract last October, consultants conducted public consultations, including: Online surveyand met with stakeholders and focus groups. According to the Ministry of Planning, Agriculture, Housing, Infrastructure, Transport and Development (PAHITD), feedback collected over the last five months will be taken into account.

Once the policy is prepared, it will be presented to the Cabinet for review. The consultants will then make a public presentation of the final policy and plan.

Government attempts to address the significant housing crisis in the Cayman Islands began under the PACT government after: inter-ministerial task force was established to investigate these issues and provide solutions. So far, little has been done to address the myriad problems caused by the shortage of affordable properties.

Over the past decade, Grand Cayman’s development has focused almost entirely on high-end luxury accommodations, largely with the goal of attracting the luxury tourism industry or wealthy individuals who want to use local properties to store their money. Not only is this harmful to the environment, but it also pushes many local residents out of the housing market.

At the same time, many local property owners have withdrawn their rental units from the long-term domestic market and switched to the more lucrative business of renting to guests through platforms such as Airbnb, resulting in a massive decline in the number of available long-term rental units and pushing prices up to unprecedented levels.

This comes as the population has reached an all-time high, driven largely by low-wage, permit-based expatriate workers who are forced into overcrowded, cramped rooms and dormitories where workers even share beds in Dickensian conditions.

A government task force produced a report that was approved by the Cabinet but was never made public. CNS submitted a public information request on this matter on March 26 and we are still waiting to find out whether the requested document will be released because the Cabinet Office, which holds it, asked for a 30-day extension. The extension period expired three weeks ago.

Time will tell whether the findings in this report will have an impact on proposed policy. But with about nine months until Parliament adjourns to pave the way for general election campaigning, Cayman Islanders are unlikely to see any significant moves toward resolving the crisis before the nationwide vote.