Miles of pristine white sandy beaches, year-round sunshine, and world-class service providers make Cayman an ideal destination. Indeed, hundreds of thousands of visitors opt to vacation in the Cayman Islands, with many choosing to purchase property or invest in a holiday home.
Cayman’s family friendly atmosphere, wide range of activities, low crime rate, and high standard of living makes this Caribbean jewel the perfect place to invest.
As one of the world’s leading offshore financial centres and a British Overseas Territory, purchasing a property in Cayman offers a safe and secure investment option, offering sound potential for capital appreciation.
Besides a one-off stamp duty payment, there are no taxes on property, income, services, or capital gains, making investing in Cayman a savvy financial move. In addition, favourable economic forecasts by the International Monetary Authority, and independent survey reports showing continued growth for the coming years, means that there has never been a better time to invest in paradise.
While investors will benefit from capital appreciation, rental demand is also very strong. The rental market is slated to rise as the population increases to fill new business ventures and stay-over tourism grows, offering an additional lucrative revenue stream.
Cayman offers a safe and well-regulated real estate industry, meaning that investors can purchase with confidence. Indeed, government actively encourages property ownership for both residents and foreign investors. Additionally, the Cayman Islands Government also guarantees title.
Purchasing property couldn’t be easier. Cayman’s property market is largely organised by the Cayman Islands Real Estate Brokers Association, known as CIREBA.
CIREBA was established in 1987 and is a not-for-profit association that provides a professional and ethical network to the leading independent real estate companies in Cayman. There are currently more than 30 real estate brokerages governed by CIREBA, covering some 185 real estate agents. Between them they manage more than US$1.9 billion worth of listed properties across all three islands.
The vast majority of all property sales and purchases are handled through CIREBA. Agents receive training and are required to adhere to a robust set of industry leading guidelines, protecting sellers and purchasers.
CIREBA’s Multiple Listing Service helps ensure an effortless property search too. This sophisticated platform means that purchasers are not restricted to using only the listing broker or agent for a property, and instead can use an agent of their choosing as all have access to properties on the MLS.
Cayman offers an extensive range of property for sale, from beautiful luxury mansions, opulent penthouses, and chic condos along famed Seven Mile Beach, in addition to stunning canal-front homes, townhouses, single-family starter homes, as well as land and commercial buildings.
Seven Mile Beach continues to be one of the most popular investment options, having seen one of the largest surge in prices, mainly driven by U.S. purchasers. And, residential construction continues to grow, both along the Seven Mile Beach corridor and across Cayman.
High-end luxury resorts favoured by investors include the Residences at The Ritz-Carlton, Grand Cayman, Kimpton Seafire Resort + Spa, the Grand Hyatt, Rum Point Club in Cayman Kai and Fin in South Sound. Scheduled to come onto the market shortly offering more luxurious residence options are the Mandarin Oriental, and another spectacular, ultra-high-end Seven Mile Beach private residence development.
Another exciting residential development in the Frank Sound area will be Arnold Palmers’ Ironwood Golf Course & Resort. The project offers residents the use of a PGA championship golf course designed by golfing legend Arnold Palmer.
Residential developments currently proving popular with investors and home-owners are Periwinkle, Cayman’s first sustainable community; Stone Island a luxurious gated waterfront community; TIDES, a sophisticated South Sound development offering a selection of condos with far-reaching sea views; and the ever-popular VELA, also a luxurious South Sound development that boasts Cayman’s largest resort pool.
The Cayman Islands Government and private developers continue to invest in the island’s infrastructure, ensuring Cayman is a leading destination in the Caribbean, both now and in the future.
New infrastructure developments include major improvements to Owen Roberts International Airport; the further development of an economic zone at Cayman Enterprise City; the expansion of Health City, a world-class hospital; and the ongoing growth of the purpose-built town, Camana Bay, set along the heart of Seven Mile Beach.
Whether you are looking to make a property investment, purchase a holiday home, or perhaps start a new life in Cayman, simply turn the key to find your new life in the sun.
By Sheena Connolly, Cayman Islands Sotheby's International Realty
Sheena Connolly is the owner/broker at Cayman Islands Sotheby's International Realty and has been at the forefront of Cayman’s real estate industry for more than 20 years. Sheena is also a board member of CIREBA.