Grand Cayman Condos
ERA Cayman has over 200 Active Listings for Grand Cayman Condos. Our database from the MLS includes all the latest listings of all Condos available for sale in Grand Cayman, Cayman Brac and Little Cayman. Condo is short for Condominium; you could otherwise call them apartments or flats depending on where you come from. Here in the Cayman Islands they are referred to as Condos. A condo is usually a complex of a various number of other condos on a shared plot of land with maintenance fees shared by all owners.
Condo and Strata Fees
A Condo complex has a Strata which is similar to upkeep or property management fees that the owner would pay throughout the year to cover the costs of landscaping, pool cleaning/maintenance and general management of the complex. These costs also incorporate property insurance. Strata fees do vary at different Grand Cayman Condos. Reasons for this could be:
- Size of complex
- How many units
- Swimming Pools
- Amenities such as gym, tennis courts etc.
- Size of landscape/gardens
- Seafront or Inland
More information regarding Strata and fees here.
Grand Cayman Condo Investment
Grand Cayman Condos are now very popular as a vacation rental investment. Some complexes allow the owner to sublet their property through Airbnb or other short-term vacation rental companies. This can see substantial return on investment on your property, as short-term vacation rentals are extremely popular with visitors to the Cayman Islands. If you are a Grand Cayman Condo owner who wants to take up this opportunity, you are required by law to obtain a Tourism Accommodation License. Without this you could get a fine of up to $100 per day for every day without that license. The Hotel Licensing Board is responsible for issuing these licenses. To find out more about this you need to contact Department of Tourism for the Cayman Islands.
Grand Cayman Condos Locations
Grand Cayman Condos can be found all across Grand Cayman. They come in various sizes ranging from 1 bedroom condos to multi-level townhouses. You can find them in locations on the water both sea front and canal front, also inland in more rural areas. Here are some of the locations you can find Grand Cayman Condos.
- 7 Mile Beach
- Rum Point/Cayman Kai
- Camana Bay
- George Town
- Bodden Town
- East End
- West Bay
- North Side
- South Sound
7 Mile Beach Condos
One of the most sought-after locations in Grand Cayman is 7 Mile Beach. This is also where you will find some of the most luxurious condos on the whole of Grand Cayman. Why 7 Mile Beach? It has been awarded numerous accolades including recently one of the 2019 Trip Advisor/Traveler’s Choice best beaches in the world. It is also a hub for restaurants and nightlife. Depending on your budget there are some slightly lower priced 7 Mile Beach Condos available, but these will be in slightly rockier areas of the beach, if you are looking for prime location on soft sandy beach then expect to pay over $1 Million. Click on 7 Mile Beach condos to find out more.
Grand Cayman Condo Developments
There are so many new Grand Cayman Condo Developments popping up every week. The real estate market in Grand Cayman is booming. If you want to see high returns and capital growth, then buying into a new development or ‘off-plan’ is the way to go. Why? A lot of new developments will sell early phases of that development at a lower price to encourage buyers and boost their marketing value – here are other advantages you may find when buying into a new development:
- No stamp duty
- Lower Deposit
- Financing Options
- Staged Payments
- Below Market Value Purchase Price
Because of these advantages you are likely to be able to sell your property on at a much higher price even before the development is completed and especially after.
Here are just some of the new developments currently on the market:
- Downtown Reach
- Bamboo Villas
- Indigo Bay
- Grand Palmyra
- Rum Point Club Residences
- Eleven Parc
- South Bay Residences
- Twenty 40
- Ocean Crest
- Harbour Walk
- 19 North
- One Canal Point
Cayman Condo vs Single Family Home
What are the advantages of buying a Grand Cayman Condo rather than a single family home.
- Price (Condos are usually cheaper than a single family home)
- No exterior repairs or maintenance
- Amenities (pool, tennis courts, gym etc)
- Community and safety (know your neighbours and usually complexes have fenced or gated grounds)
Search our database for all Grand Cayman Condos currently available for sale or get in touch with one of our real estate team and let them know what your budget is and what you are looking for and we will do all we can to