Your Gateway to Luxury: Cayman Islands Premier Real Estate

Tax advantages: The Cayman Islands do not impose property taxes, capital gains taxes, or inheritance taxes on real estate transactions. This tax-friendly environment makes it an appealing destination for real estate investors.

Luxury lifestyle: The islands offer a high standard of living, with many properties catering to discerning professionals and families seeking luxury lifestyles.

Tourism-driven rental market: The islands’ popularity as a tourist destination can provide opportunities for short-term rental income from properties.

High-end market: The Cayman Islands boast some of the highest property prices in the region, with an average price per square meter of $9,000 to $10,300 for residential properties. This is significantly higher than other popular Caribbean destinations like Antigua and Barbuda ($5,600/m²) and the Bahamas ($5,000/m²).

Strong market performance: The Cayman Islands real estate market has shown remarkable resilience and growth. In 2022, it achieved nearly $992 million in sales, following a record-breaking year in 2021 when it surpassed $1 billion. This performance outpaces many other Caribbean markets.

Stable economy and currency: As a British Overseas Territory, the Cayman Islands offer a stable economy and a currency pegged to the US dollar, making it particularly attractive to American investors compared to some other Caribbean destinations.

Foreign ownership policies: The Cayman Islands have no restrictions on foreign ownership for personal use properties, which is more welcoming compared to some other Caribbean nations that may have limitations or additional requirements for foreign buyers.

Foreign investors in the Cayman Islands are particularly drawn to several types of properties:

1. Luxury beachfront condominiums: These are especially popular along the iconic Seven Mile Beach. In 2022, condominium sales accounted for over half a billion dollars, with average prices in the Seven Mile Beach area reaching $3.1 million per unit.
2. High-end residential properties: Exclusive neighborhoods in Grand Cayman offer luxury homes, often priced upwards of $2 million.
3. Commercial real estate: With the Cayman Islands’ robust financial sector, commercial properties in thriving business areas are attractive to investors.
4. Land for development: The Cayman Islands allow foreign investors to purchase land without restrictions or development time frames, making it an appealing option.

The process for buying real estate in the Cayman Islands is relatively straightforward and involves several key steps:

1. Property search: Begin by researching and identifying properties that meet your requirements.
2. Make an offer: Connect with us via the listing’s contact form or by phone, and we’ll help you submit a formal written offer.
3. Pay a deposit: After the offer is accepted, you’ll need to pay a deposit, typically 10% of the purchase price.
4. Contract preparation: A contract outlining the terms and conditions of the transaction will be drawn up.
5. Due diligence: Conduct any necessary inspections, structural reviews, and secure bank financing if required.
6. Closing: Upon satisfaction of all contract conditions and payment of required taxes and fees, the transaction is completed.
7. Transfer of ownership: Both buyer and seller execute a Transfer of Land form, and the ownership is recorded in the computerized Land Registry system.

Key aspects of the process include:

1. No restrictions on foreign ownership of property.
2. The Cayman Islands government guarantees absolute ownership of each land parcel, eliminating the need for title insurance.
   Stamp duty, the largest additional cost, is typically 7.5% of the purchase price or market value, whichever is higher.
3. Legal fees are usually around 1% of the purchase price.

The Cayman Islands uses the Torrens system of land registration, which is considered simple and effective. This system, along with the government’s guarantee of ownership, contributes to the straightforward nature of property transactions in the Cayman Islands.