Cayman Islands Real Estate
Whether you are looking for a primary residence, vacation home, or considering a Cayman Islands real estate investment, there are few places in the world that rival the unparalleled benefits these islands has to offer – particularly for high net worth individuals who stand to gain the most from the islands’ many attractive incentives for business and long-term residency. Despite the COVID-19 lockdown in the first half of 2020, reports have shown that the property market was able to generate US$ 77-Million in sales at the end of the year, with international buyers continuing to drive sales in Cayman Islands real estate, due in part to the government’s effective handling of the coronavirus situation.
And while the unforeseen disruption caused a marginal decline in the number of transactions, it also triggered an escalation in value, where the average transaction in 2020 showed a significant increase compared to the previous year. The housing market remains robust and dynamic, as the real estate sector entered 2021 with a 91% upsurge in pending sales and over US$ 1.7-Billion worth of new properties underway. With the continued entry of high net worth buyers and investors, purchasing property in prime locations will remain highly competitive, especially in the luxury real estate segment. With sustained demand for choice property, it is absolutely important for buyers to find a reliable and experienced local agent like ERA Cayman Islands real estate team to help you find — and acquire — your very own piece of paradise.
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The Cayman Islands has all the necessities of urban living discreetly embedded amidst the dreamlike sceneries of a tropical paradise. You can work, study, play, and basically enjoy a full and active life you don’t have to take a vacation from. As an autonomous British Overseas Territory, the Cayman Islands has long been regarded as a significant investment hub for key players in international banking and finance, mostly due to its flourishing tax-neutral economy. Thus, the Cayman Islands consistently ranks high on the world GDP index and is known for the most exceptional quality of life anywhere in the Caribbean. Aside from its multiple business-friendly policies, there is also zero taxation on income, property, real estate, or corporate investments. On top of this, there are no laws that restrict foreign ownership of real estate, making the islands a popular choice for non-resident buyers and creating a global demand for Cayman developments.
Where to start looking?
Grand Cayman is the largest of the three Cayman Islands. It is where 95% of the entire population reside — mostly within the territory’s capital, George Town. Aside from George Town, which is the center of business and everyday life, the more popular locations for choice Cayman Islands real estate include Seven Mile Beach and Cayman Kai/ Rum Point. Living next to one of the best beaches in the world definitely makes Seven Mile Beach a prime location for luxury real estate on Grand Cayman. Beyond the pristine shoreline, Seven Mile Beach condominiums are set amidst a lively and vivacious environment that offers a wide variety of options for dining, shopping, and nightlife, adding more value to this highly coveted location.
Meanwhile, those in search of greater exclusivity and a more subdued atmosphere are likely to fall for the subtle allure of Cayman Kai and Rum Point. Quietly tucked along the northern end of the Grand Cayman, an enclave of enchanting houses and captivating villas line these private beach side communities, allowing homeowners to enjoy sun, sea, and sand in blissful solitude. These are but a few of over a dozen choice residential communities ERA Cayman Islands can help you explore as your trusted real estate advisor. You can also check out our Cayman Real Estate Buyers Guide for quick tips on how to get you started.
Personal Service, Professional Expertise
At ERA Cayman Islands, all our agents are handpicked for their excellent record in customer service and gainful years of experience in both the local and international real estate industries. Our broker, Jeanette Totten, was the first female president of CIREBA (Cayman Islands Real Estate Brokers Association). She had been elected to lead the organization in multiple terms since 2012 and was instrumental in forming the Cayman Multiple Listing System (MLS). She currently serves in the CIREBA Board of Directors. In a recent interview with the New York Times, Jeanette reiterated that the value of Cayman Islands real estate has remained stable, as high-end homeowners wait out the COVID-19 pandemic.
“This is part of their portfolio and they’re just holding onto it. And they’re riding out the pandemic storm,” she observed, affirming that not only have prices remained steady in Cayman real estate, the housing market also continues to remain strong.