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(CNS): Public Works LLC, a U.S.-based consulting firm commissioned by the UPM government to draft the Cayman Islands’ first housing policy, has begun drafting the document since winning the $276,750 contract last October, according to ministry officials. consultant Public consultations were held, including online surveyand meeting with stakeholders and focus groups. According to the Department of Planning, Agriculture, Housing, Infrastructure, Transportation and Development (PAHITD), feedback collected over the past five months will be taken into consideration.
Once the policy is drafted, it will be submitted to the Cabinet for consideration, and the consultants will then make a public presentation on the final policy and plan.
Government attempts to address Cayman’s acute housing crisis began during the PACT administration, when Cross-departmental working group It was established to study these problems and propose solutions. So far, little has been done to address the myriad problems caused by the shortage of affordable properties.
Over the past decade, development on Grand Cayman has focused almost exclusively on high-end luxury accommodation, primarily to attract luxury tourism or wealthy individuals who want to save money with property here. This has not only been detrimental to the environment, but has also put the housing market out of reach for many local residents.
At the same time, many local owners have withdrawn rental properties from the long-term domestic market and turned to the more profitable business of renting to tourists through platforms such as Airbnb, causing a sharp drop in the amount of available long-term rental accommodation and pushing prices to unprecedented levels.
This is happening at a time when population numbers are at an all-time high, driven largely by low-paid foreign workers on permits forced to live in overcrowded rooms and dormitories, with workers sharing beds in Dickensian conditions.
The government task force produced a report which was approved by Cabinet but never made public. CNS made the FOI request on March 26 and we are still waiting to see whether the requested document will be made public as the Cabinet Office, which holds the document, has not yet released it to the public. Request for 30-day extension. That extension expired three weeks ago.
Whether the report’s findings will influence this proposed policy remains to be seen. But with about nine months until Parliament is due to adjourn to pave the way for a general election, it is unlikely that Caymanians will see any significant moves to resolve the crisis before the national vote.
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