Houses for Sale in the Cayman Islands
Cayman Island homes are exceptionally unique offering the buyer an array of architectural designs ranging from exquisite contemporary Caribbean beach houses to beautiful and more traditional Caymanian homes. Lush tropical landscapes combined with spectacular ocean views serve as backdrops to intricately tiled patios and infinity edge pools. The Caribbean architectural heritage enhances the appeal of these unique homes. The style and location of your Cayman Islands home are dependent upon your financial situation and whether you desire it for personal use or as an investment for rental return. A buyer has the choice of purchasing a traditional Caymanian home, a more contemporary styled home or hiring an architect to design your idea of a dream home specifically to meet your personal requirements.
The Foremost Reason to Buy a Cayman Home
The Cayman government guarantees a clear title when you purchase a home or piece of land. Regardless of size, the government issues a block and parcel number for each and registers it. Unlike when you purchase a home somewhere else in the Caribbean where clear title may not be guaranteed, when you buy property in the Cayman Islands, it comes with a clear title which makes your investment fiscally sound.
Local and Investor/Tourist Housing Markets
Grand Cayman with its developed infrastructure is permanent home to approximately 66,000 people. The real estate market serves both the local community as well as the investment/tourist marketplace. The requirements of both are very unique and different. The locals look for convenience to work, schools and shopping while the investment/tourist market focuses more upon the gorgeous beaches and incredible vacation amenities. These differences extend to the type of Cayman home each buyer desires and can afford.
The local market’s home price range for an established home is from CI$500,000 to CI$700,000 dependent upon location. The price increases the closer the home is to George Town which has more conveniences and developed residential areas and neighborhoods. The East End and Bodden Town homes are less expensive, but the commute to and from work can take over an hour in traffic. The farther one goes from George Town, the town areas have less infrastructure, population and local conveniences.
The investment / tourist vacation home median price for the George Town, 7 Mile beach and South Sound areas is from CI$1.5M to CI$10 million. The increase in price is due to the desirability of gorgeous oceanfront property and close proximity to restaurants, amenities and the airport. Waterfront property to build on is extremely limited now in the George Town area as this area was the first to develop because of the airport.
Traditional Cayman Islands Homes
Traditional Cayman homes can be found in residential areas of George Town. These lovely homes are reminiscent of the typical Caribbean architectural style. Buyers who wish to purchase the more historical Cayman style cottage laced with gingerbread, will discover that these beautiful quaint cottages rarely come on the market. The originals were constructed of whatever materials were available at the time. Recognizing the historic value of these Caymanian cottages, architects have preserved the unique character while improving the quality of materials used to ensure better weather and storm resilience.
Contemporary Homes on the Market
In contrast to the traditional Caymanian style house, a buyer who prefers a more modern contemporary home can find an array of unique and gorgeous non-traditional architectural creations. Grand Cayman is home to some of the world’s most cutting edge and innovative home designs incorporating the latest technology using natural light to enhance the spectacular environmental features. An architect can assist the discerning buyer in designing a luxurious home focusing on simplicity of the linear design with spectacular glass areas melding the natural environment with the interior.
Beachfront Homes for Sale
To own a beachfront home in Cayman is to own one of the world’s most valuable pieces of real estate. The Cayman Islands are one of the most desirable areas of the Caribbean for financial investment whether for personal use or for investment. Grand Cayman is world renown for its breathtaking turquoise waters and white sandy beaches. George Town, South Sound and Rum Point are the areas most in demand for a beachfront home. Due to high demand for these areas, the availability of beachfront homes is limited. Areas like Bodden Town and East End offer beautiful beachfront property at a more affordable price and are becoming more in demand.
If you haven’t been able to find that heart-stopping home, there are a number of architects in Cayman ready to design that luxurious home to meet your personal needs. One of the most revered architects is John Doak, a resident of Grand Cayman for over 37 years. He welcomes the challenge of creating a unique, sustainable and elegant home for each buyer.
Grand Cayman is fortunate to have a variety of architectural firms that specialize in Caribbean and modern style home designs. OA+D Architects employ revered architects who reside on Cayman full time that are knowledgeable about the intricacies of island living and the challenges of the environment. Having personal knowledge of the island’s location and weather challenges is critical when designing and building your home.
Cayman follow Southern Florida Building codes. There is a very professional Cayman Planning Department which requires all new construction to submit a full set of professional drawings for review and approval. Approval will be followed up with a scheduled set of inspections during the course of the work. Tradesmen are licensed when required and all companies have to be licensed and carry insurance. A lot of the more desirable communities will carry covenants for the owners.