CIREBA Proposal Supports Government’s Goals for First-time Caymanian Homebuyers

Responding to his call for business leaders to “lean in” with Government on community-building initiatives, CIREBA has spoken with Premier the Hon. André M. Ebanks MP and is moving forward with a proposal to provide grants of up to CI$5,000.00 to first-time Caymanian homebuyers, to assist with closing costs and related expenses. Caymanians who qualify for, and receive, Government's stamp-duty waiver for first-time purchases, CIREBA (Cayman Islands Real Estate Brokers Association) will be eligible for the grant. Recipients may use it toward closing costs, property insurance or, where those costs have already been met, essential furnishings for their new home. The Premier and CIREBA are also engaging the Cayman Islands Bankers Association, to offer reduced commitment fees; and with Cayman Islands Legal Practitioners Association to offer reduced legal fees for closings and conveyancing for first-time Caymanian homebuyers. The challenges that hard-working Caymanians faced when purchasing their first homes spurred CIREBA to develop the proposal, said CIREBA President Brian Wight. “As Caymanian-owned brokerages, our members see firsthand the obstacles facing first-time buyers,” Mr Wight said. “This fund is our way of leaning in and being part of the solution. We are proud to partner with the Government and other stakeholders to help more Caymanians achieve the dream of owning their first home.” CIREBA’s proposal was launched following the Premier’s keynote during the Chamber of Commerce’s Annual Parliamentary Luncheon on 23 October. In it he spoke about Sir Vassel’s vision for the Cayman Islands, which laid the foundation for our financial services success; and then he challenged the country’s business community to work with Government, to achieve continued and even greater heights of success while finding ways to strengthen the community as a whole. Premier the Hon. André M. Ebanks MP (centre) with CIREBA representatives (from left) Michael Joseph, Jill Davidson, CIREBA President Brian Wight and Tony Catalanotto. Media Release, with Photos and Sound Bites Media Enquiries: angela.piercy@gov.ky otp.gov.ky “At the Chamber of Commerce Annual Parliamentary Luncheon on 23 October, I called upon the business community and individuals to join a call of action, to lean in and to take Cayman to its greater potential. And CIREBA has provided an initial response to that call by moving quickly to help reduce the financial barriers that have kept too many Caymanians from achieving the dream of homeownership,” the Premier said today. “With Government’s stamp-duty waiver programme; the soon-to-be reintroduced Government Guaranteed Home Assistance Mortgage Programme; the near-completion of our country’s first 10-year housing plan; and private-sector led initiatives like this, Cayman is making swift progress with respect to Broad Outcome 2 on Housing, Infrastructure and Environment, specifically on affordable housing.” In early January 2026 a working group, which will include a member of Hon. Minister Rolston Anglin’s Ministry of Finance and Economic Development staff, will be established to finalise CIREBA’s programme details. The programme itself is expected to be launched by February 2026.