QUICK LINKS: Caymans Guide - Caymans Discussion Forum - Caymans Property Listings

TIP: Want to use the forums? Register your account here!

The real estate market in the Caymans is a unique one affected by the international impact of competition for a share of the small island paradise. Retirees, expatriates, locals, and holiday seekers all want a piece of the pie, and the Caymans attract major corporations and individual investors alike. Lucrative income from vacation property rentals, short and long term capital gains potential, and the absence of traditional real estate taxes make the Caymans a magnet for real estate dollars from all over the world. About half of all properties in the Caymans are owner-occupied.

With several large developments underway, including a major resort project by Ritz-Carlton, prices are expected to rise steadily over the next few years (i.e. from 2005 onward). The Ritz project for example, will increase the value of land near it while simultaneously bringing about 1,000 new employees to the area who will need housing. Prices of homes near the Ritz-Carlton (expected to open in 2006) are expected to start around CI $2,500,000.

Current construction costs average CI $300 per square foot; costs including land value and furnishing are usually at least twice that amount.

The Cayman Islands Real Estate Broker's Association follows strict rules and regulations, and uses a Multiple Listing Service system similar to those used by real estate professionals in the USA and Canada. The association publishes a magazine of listings, and this can be obtained upon request, free of charge. Extensive information is also available through the association's web site: http://www.cireba.com/