Occupying an area of 264 sq. km with barely 100,000 local residents, the Cayman Islands are neither large nor populous. But its spectacular beauty draws crowds and so investments in Cayman Island real estate is always win-win.
The lay of the land in Cayman Islands is interesting. There are three tiny but beautiful islands – Grand Cayman (76sq miles), Cayman Brac (15 sq miles) and Little Cayman (10 sq miles). All three islands are low lying but well protected by a reef, a mangrove and a limestone bluff. Owing to its position on the tectonic plates, even a 6.8 Richter earthquake in 2004 did not cause much damage on the island. The islands are clearly safe. However, there is a hurricane season from June to November.
These are questions you will want answered if you are who are looking to buy permanent homes in the Cayman Islands. Cayman Islands Real Estate offers a choice of land, condos, waterfront homes or deckhouses. The reef has a row of dream houses along a deck that affords an uninterrupted seascape. Naturally waterfront homes in the Cayman Islands are at a premium. But if one plans to spend a substantial part of the year at the island, or time-share it with someone or even put it up for hire, it is well worth it. More over, the government does not forbid foreigners to own property and the tax laws are easy on the payee.
In addition there are always people migrating into and out of the island; many visitors end up staying and working for several years! Which means that there always are homes for sale? And it gets better, because real estate developers in the Cayman Islands renovate these homes beautifully. The price of the property is typically determined by its distance and connectivity from Georgetown, the capital.
It might also interest those seeking retirement homes in the Cayman Islands to know that everything is available at the island, albeit at a higher price, because it has to be flown in from the main land. However, the compensatory factor is the gentle, well-bred locals who are happy to welcome and mingle with new settlers in the islands. Moreover, there is a registered homeowners association. Those looking to retire might opt for land in the Cayman Islands and build a once in lifetime home. The alternative detailed below is equally attractive.
Trusted names in Cayman Island real estate like Cayman Real Estate Company, Care Realty LTD list elegantly renovated and fully furnished condos (with gorgeous art work to boot) at different sites on the island, upward of CI$200,000. Done up in varying styles and very conveniently located, these condos fetch amazing rentals, a sound return on investment. The Cayman Real Estate Company is also to develop properties on 2.2 acres of South sound and .96 acres on the West Bay Waterfront. An experienced team will help you decide what you want. Buying now, before prices peak, would be a sound investment decision.
Added: by Utopia Realty