No restrictions on foreign ownership of property exist. Title is granted and guaranteed by the Cayman Islands Government, and the land registry system is modern, reliable, and centralized. Vacant land can be owned and held for future investment potential, and there is no annual property tax.

Cayman's Building Control Department supervises building codes and inspections of such things as building sites, plumbing, and electrical work. Because construction materials have to be imported, costs per square foot are considerably higher than they are in other places where materials are readily available.

Houses, apartments, condos, and townhouses are available for purchase, and time-shares are also available. The prices vary widely depending upon location, size, design, and other features. Seven Mile Beach is the most expensive, and a vacant beachfront lot in that location can cost millions of dollars. Grand Cayman prices are higher than those on the smaller islands.

Because of the presence of so many financial institutions in the Caymans, mortgage lenders are abundant and rates are competitive. Many loans are written for shorter terms of 10 and 15 years, versus the traditional 30-year loans that are commonplace in other markets.

Typical price ranges

Condo

2 bedroom / 2 bathrooms $100000 to $1100000 (Plantana Condo's on SMB)

3 bedroom / 3 bathroom $200000 to $9000000 (The Ritz Carlton, being built on SMB currently)

Residential House

2 bedroom / 2 bathroom (townhouse) $150000 to $500000

3 Bedroom / 3 bathroom, $200000 to $5000000 (Private Gated Community, Vista Del Mar)

--

Got something to add to this section? Spotted something which should be changed? Please let us know!

Click here to return to the contents page for "Cayman Islands - an expatriate guide."