If you’re reading this, it’s probably not the first article you’ve read on investing in Cayman. We can tell you all about how safe it is, how fairly straight-forward it is and how wise it is to buy in The Cayman Islands….and we just did. It’s that simple: Cayman has consistently been a very good place to invest in for both local and international buyers.
- Cayman’s building codes are stringent and in some ways far superior to other places globally.
- They are built to Hurricane standards and anything after 2004 is more than likely able to withstand a Category 5 hurricane. Condos on the beach have a tremendous amount of pilings, some hitting bedrock, and are built high to handle varying sea levels should a storm come our way.
- Insurance companies are rock solid and provide exceptional coverage for all potential situations
The supply and demand market is something we see largely affected by the global economies and stock markets. When stocks are iffy, when currency markets fluctuate, when the US Federal Reserve makes significant financial decisions, we see a shift in the market here…and it’s almost always a good one. People realize that real estate in Cayman is a constant steady: your investment will either grow or hold its value, and with our strong tourism product, the rental income is always good too.
Living here year round, you will see that your property rarely depreciates. Caymanian home buyers overall are happy with their property purchases. The market shifts from a buyer’s to a seller’s one every few years and in more recent years (since early 2016) we are seeing a seller’s market for sure. We’ve run out of inventory in some niches so will more than likely be on the ‘seller’s market’ run for a few years until developments start happening in late 2017 heading in to 2018….and believe us, they are coming!
Paying Stamp Duty of 7.5% upon the closing means that a buyer pays only that for the entire time they own a property; we do not attach any other Cayman Islands-based taxes to your property and Government guarantees your title. This means that as long as you have paid for your property and the Stamp Duty, it’s yours for as long as you own it and when you sell, the new owner pays that Duty; the sales profit is all yours.
- No inheritance, capital gains, income or sales tax
- No title insurance needed
- No hidden fees at all
- Title to the property is a matter of public record at our Lands Registry Department