Cayman Island Real Estate is thriving. It is as if the western world has suddenly woken up to its sylvan beauty and the acres of undeveloped land. Home owners, hoteliers, developers, retirees – each want a place under the Caymanian sun, because that is where the beauty and the money is.
Property in Cayman is an assortment of the existing residential villas and condominiums, properties that can be developed to generate income form facilities like hotels, spas lodges, properties that can be leased for commercial purposes, properties to develop further residential facilities and also virgin land. Typically, owners of small and medium sized properties in Cayman live on part of it, while the rest of the property is developed for tourists. The 89.9 acre Arlington Estate Plantation, for instance, is surrounded by a lush botanical garden.
Enthusiastic horticulturists might turn it into a spot for eco-tourism or simply a luxury time share option. There is a pool and a spa, hiking trails and more than one residence on the property. Definitely income producing! For pure family living, there are villas on Smith Road, there are multifamily utilities at 619000USD and the perfectly restored 1982 vintage Villas Pappagallo.
The prime property, of course, is beach property and the well developed swinging Seven Mile Beach is already a hot spot for the hoi polloi. Most of the condominiums line the Seven Mile Beach and a large number are already taken. However, there are luxury suites available for those who like the good life – spacious 5th floor 3700 sq ft apartments that will set you back 34000000 USD.
The more recent, built in 2009, Beachcomber Condos are beachfront properties for lotus eaters who love the sea. There is water, water everywhere and lots to do in it. More realistic are the On the Bay Condos – meant for families that love fun times together, priced at 590000USD. There is more. 200 ft of beach front on the Boatswain Beach, 240 more feet on Conch Point on the North Shore, with protective reefs thrown in; most of them attractively close to Georgetown.
Now the all important question – why is real estate Cayman such an attractive investment? The single most reason to buy real estate in the Cayman Islands is growth. The value of your investment will probably quadruple in a decade. The economy has grown steadily at more than 12 % in 15 years and judging by the clamor to purchase property, there is no sign of abatement.
Secondly, there is no tax; only a very reasonable stamp duty. Moreover, the titles are guaranteed, the government is stable; there is an anti-money laundering jurisdiction in place. Next, Cayman is fast becoming a commercial hub – plenty of banks and tertiary services are setting up base. Clearly, buying real estate in Cayman and leasing it for commercial purposes would be a lucrative investment.
Real estate services in Cayman are discovering and restoring properties to offer buyers a sound investment in this beautiful country. Differentiating themselves from many real estate agents in Cayman, the West Indies Brokers specialize in distinguished private and commercial property on the Cayman Islands. We are a team of thorough professionals who have made successful deals commensurate with a decade of experience in real estate on Cayman.