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Buying property in the Cayman Islands

Cayman offers far more than just some of the world's best beaches; which boast a vast array of luxury condo’s and beachfront homes. Whether you are looking to buy beachfront real estate or happy to be a few moments from the waterfront, all the pleasures of the Caribbean sea are never far away. What was once a small seafaring cluster of islands, established itself primarily as a Tax-Free jurisdiction in the 1960’s. Recently, Cayman has emerged as a first class tourism destination and one of the top offshore banking centres in the world, with all of the associated industries to support it, the synergy of which has endured global economic crises and arisen to a highly liveable Caribbean Island. This British Overseas Territory is now internationally recognised as a ‘Safe Haven’ offering one of the best offshore lifestyles in a safe and stable environment for high net worth investors and their families to enjoy, whether it’s for year round resident or a holiday home/investment property.

With approximately 56,000 residents, half are Caymanian and the others hail from all over the world. The Cayman Islands mainly attract large corporations, affluent retirees and a multicultural mix of independently wealthy entrepreneurs and business owners.  Cayman has always welcomed expatriate’s, with no restriction on foreign ownership of property. The expatriate population originates from over 150 nationalities, and Cayman has developed into a sophisticated, cosmopolitan society. This is reflected in the standards of dining, services and shopping available to everybody on the island. Although many residents enjoy the island year round, a number of owners make their Cayman property their second or third home to complement their primary city, country or mountain home. A healthy rental market ensures maximum return on your investment should you choose to rent out your second or third home, not forgetting that this is a ‘tax free’ jurisdiction with no annual property tax, nor income, corporation, capital gains or inheritance tax.

Cayman has an incredibly strong and secure infrastructure, and is well built both in terms of residential and commercial real estate developments; this is also reflected in property prices, which have remained stable over the past decade. Cayman real estate represents great value when compared to other low tax environments and Caribbean Islands and is within easy reach to North America and Europe. There are over 20 direct flights from the US, Canada, UK and other regional airports, including daily services to Miami and Tampa, which are just over an hour away, accessibility to Cayman has never been greater.

Although many new residents to the Cayman Islands are initially drawn to beachfront or sea view properties in prime areas such as Seven Mile Beach, South Sound and Old Prospect, a great deal though are then attracted to canal front property where one can dock their boat at the end of their garden and have direct access to the North Sound, with canal front developments encircling this reef protected water sports haven. Regardless of your desired view, size or price range there are hundreds of property listings in Cayman on CIREBA’s MLS (Multiple Listing System) and we will no doubt be able to find the perfect property for you in the Cayman Islands.

Cayman has set its sights way above its Caribbean neighbours and boasts the highest standard of living in the region. Grand Cayman offers high standards of education and a wide range of international schools and syllabuses. The economy is as diverse and as the population, and sustains itself by not relying solely on tourism or agriculture as many other islands do. There are a tremendous variety of lifestyles available in Cayman, which has been internationally recognised by Forbes and HSBC among others as ranking highly in the lifestyle leagues. With endless beaches and surrounded by the warm Caribbean sea, activities on and under the water are obvious, but there are numerous other sporting and cultural pursuits and events for the whole family to enjoy. There are charitable organisations and service clubs who always welcome new members, there is something for everyone to relish….but even if you want to relax and do very little, just being in Cayman is a real pleasure!

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