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Frequently Asked Questions
Can foreigners buy property in the Cayman Islands?
Yes, foreign buyers can purchase property in the Cayman Islands with no restrictions on foreign ownership, making it one of the Caribbean’s most accessible markets for international investors.
What are the best areas to buy property in the Cayman Islands?
World-famous Seven Mile Beach and the Seven Mile Beach Corridor are the most prestigious areas to buy property in the Cayman Islands, offering luxury living on or close to the pristine white sand beach and the brilliant turquoise waters. North of Seven Mile BEach, the West Bay area is ideal for waterfront living, while the tranquil areas of Rum Point and Cayman Kai offer serene luxury beach houses with privacy and stunning views. For those seeking the quieter life, East End offers charming beach cottages and a more laidback atmosphere.
What’s the average price for Cayman Islands real estate?
Entry-level homes typically start aournd US $500,000, while waterfront homes on the canal begin around US $1.5 million. Luxury beach houses start from approximately $2.5 million and can reach $10 million, $20 million, and beyond. Condos start at $400,000 for units in well-established mid-market developments by the beach or near world-class diving sites, with higher-end apartments ranging from $750,000 to $1 million. Prime beachfront condos begin around $2 to $2.5 million, while at the top end of the market, the finest luxury residences command anywhere from $5 to $20 million. This is a market geared toward the luxury end with high demand from affluent buyers seeking premium Caribbean real estate.
Is Cayman Islands real estate a good investment?
The Cayman Islands offer exceptional investment potential with tremendous tax advantages including no income tax, property tax, inheritance tax, or capital gains tax. This extremely dynamic and fast-growing real estate market features high levels of demand, numerous new developments in the pipeline, and an excellent re-sale market with very high potential for appreciation.
For even more information on the buying process, legal requirements, and market insights, read our Guide to Buying Property in the Cayman Islands.