Buying a property in Cayman has many advantages, not least that if you are staying for some time, mortgages tend to work out cheaper than rents over a three to five-year period.
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There are no restrictions on foreign ownership of real estate if the property is for personal use and there are no annual property or capital gains taxes. If the property is rented out as an investment then no tourist tax is payable if the property is rented to residents. Cayman’s Land Registry office enables transfers to be relatively quick and simple.
There are eight unique features that make the Cayman Islands a very special place to live, work or holiday in:
- Easy access to the US;
- Great year-round weather
- Trade in US and Cayman dollars
- English is the native language
- No direct taxation
- Excellent commercial infrastructure
- Pristine beaches
- We are a British colony under British rule of law with relatively low crime
Specifically in terms of real estate, there are further benefits:
- Cayman has a mature real estate market with a 35 member Multiple Listing System (MLS)
- South Florida building codes are enforced
- talented craftsmen and builders
- due to our close proximity to Florida it is relatively easy to import good quality building materials.
There are many other Caribbean Islands which have several of these benefits, but there is no other which has them all.
With a stable economy, high standard of living and beautiful environment, the Cayman Islands is also an ideal place for you to own property.
Guide to the new real estate developments in the Cayman Islands including recent developments and upcoming projects scheduled in the near future.
Learn about the process of buying land in the Cayman Islands and the supply and demand trends shaping the market.
The Cayman Islands Real Estate Brokers Association (CIREBA) was founded in 1987 to regularise the industry for the benefit of buyers, sellers, and realtors.
Real Estate Legal Overview
The real estate market in Cayman is straightforward. Apart from a one-time stamp duty, there are no annual property taxes or restrictions on foreign ownership.
Much like a big city, each neighbourhood and borough in Cayman has it’s unique qualities, quirks and characteristics. Read on for an explanation of residential areas not only in Grand Cayman, but in the Sister Islands too.
Less expensive than SMB or George Town, West Bay is popular for its broad choice in housing options and direct links to the Seven Mile Beach area.
Seven Mile Beach
Discover premium living steps away from one of the world's top rated beaches.
Camana Bay's New Urbanism style of living is appealing to both families and working professionals.
With close proximity to the water, schools and Cayman's capital, South Sound is a popular residential area.
Mid-range homes, proximity to most of the Island's schools and Cayman's town centre makes George Town ideal for families.
Prospect & Red Bay
This fast growing, family-friendly area is conveniently located close to schools and the Shoppes at Grand Harbour.
Savannah, Lower Valley, & Newlands
Boasting very affordable land and a large central shopping area, Savannah is popular with young families.
Bodden Town & Beach Bay
Those who venture out to Bodden Town love it. It is on the beach, away from the hustle and bustle and the rents are in the low to mid-range.
Cayman's North Side boasts an old time Cayman lifestyle, picturesque sea views at every turn and a wide variety of houses.
A slower pace of living and affordable land and housing makes East End an ideal place to invest.
Rum Point is ideal for beach and water enthusiasts and has a welcoming mix of mid-range and high-end housing.
Life is centered around the beach in Cayman Kai, where holiday homes are aplenty.
Discover facts, figures and features of the various residential areas and districts of Cayman Brac - Brac is Gaelic for bluff...
Discover facts, figures and features of the various areas of Little Cayman - the smallest of the three sister Cayman Islands, it has much to offer.
Buying a property in Cayman has many advantages, not least that if you are staying for some time, mortgages tend to work out cheaper than rents over a three to five-year period. There are no restrictions on foreign ownership of real estate if the property is for personal use and there are no annual property or capital gains taxes.
The average cost of annual house insurance is dependent upon a percentage of the property value and generally includes liability insurance. When purchasing a home with a mortgage, the bank will require you to have home insurance to cover and damages while paying off the mortgage. Shop around for an insurance rate to suit your needs.
Property management is an invaluable service on-Island, given the extensive number of property owners who live overseas. A good property management company will market your property, screen prospective tenants, draw up a lease, handle all financial matters, produce monthly reports, handle all maintenance matters and be on call 24/7.