Real Estate

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. 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.

Cayman Real Estate Overview

With a stable economy, high standard of living and beautiful environment, the Cayman Islands is also an ideal place for you to own property.

Residential Areas

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.

Buying Real Estate

Every piece of property is registered under a unique block and parcel number, which means every owner is registered and the Government guarantees the right of ownership. A potential purchaser may examine the records regarding any piece of property to check whether there are any liens, charges or restrictions on it.

Property Valuations & Appraisals

When applying for a mortgage the current bank policy is to request that a property valuations be undertaken by a chartered valuation surveyor, or other appropriately qualified valuation professional.

Home Inspections

If you were to buy property in England, you would have a Chartered Building Survey completed. On the other hand, if you lived in the United States you would have a full home inspection done by a licensed home inspector.

Home Insurance Overview

In this section we explain the various home insurance options available when a purchasing home. Not many people know that you must have Life Insurance before purchasing a home in the Cayman Islands, so that, plus home insurance (and hurricane insurance) are things that can affect your finances when purchasing a home.