Concentration on this attractive area between George Town and the second most populated area, West Bay, contrasts with the fairly sparse development between the other districts - Bodden Town (including Savannah and Breakers), East End and North Side. In recent years, however, developers have begun to see the advantage of sites in the eastern and northern parts of Grand Cayman. Factors in this trend are the lower real estate prices in those areas, as well as availability of good roads, electricity and telephone connections.

The fact that the growth of the economy of Cayman Brac has lagged behind that of Grand Cayman has slowed the pace of development there. The third island, Little Cayman, remains comparatively undeveloped. As with the more remote parts of Grand Cayman, however, the two Sister Islands may be regarded as having the potential to become highly viable as their infrastructure develops.

Most land in the islands is in private ownership. An advantage to purchasers is that as a result of a Cadastral survey done in the 1970's every piece of land is registered. This give an assurance of authentic title with none of the doubt encountered in some other countries. The Land Registry is efficiently run and, once a price has been agreed, land purchase is relatively simple.

Availability of the registry to public inspection means that a potential purchaser can examine the records of any parcel of land and see if there are charges or other restrictions upon it. In Grand Cayman, there are considerable areas of swampland, some of it difficult to access, although some areas like this have been successfully filled and developed. This process is continuing most notably in the western peninsula of Grand Cayman, subject to regard for ecological concerns.

Potential developers, whether of business or residential property, start with the following advantages:

• An active real estate market, with many real estate agents and local media advertising setting out the properties currently available.
• Legal services readily available for arranging purchase.
• A modern land registry system, making transfers simple, quick and safe, backed by a government guarantee.
• Good architects, land surveyors, quantity surveyors, and building contractors permanently resident in the colony.
• A well-developed infrastructure of ports and airports, asphalted main roads, schools, hospitals, water, electricity, telephone, data, Internet, cellular and telex services.
• Ready-mixed concrete available for delivery to site, several builders' merchants based in the Islands, and regular shipping links with the United States.
• Relatively quick construction time, with finishing generally to high standards.
• Complete absence of restrictions upon foreign ownership of land, in contrast to some other Caribbean territories.
• No property tax on developed or undeveloped land.

In calculating the cost of their investment in real estate in Cayman, purchasers must make allowance for stamp duty, payable at the rate of 7½ percent on the realty value transferred. The price stated in an application for registration of a land transfer is always subject to acceptance by a government valuation officer.

A number of local financial institutions provide financing for real estate purchases, through a down-payment of at least a third of the purchase price is usually required and mortgages for up to 15-year terms are available. The interest rate is likely to be about 2½ percent over the New York prime. There is also a 1 percent stamp duty on mortgages.