THE CAYMAN ISLANDS PROPERTY MARKET WILL IMPRESS YOU
Over the last two decades the Cayman Islands property market has shown both great resilience and some spectacular growth, demonstrating what a successful investment it has proven to be.
Buying and Investing in Grand Cayman
The resilience has come in the form of steady prices and the absence of any sharp market correction in response to what has to have been the two greatest economic shocks that most people in the islands can remember Hurricane Ivan in 2004 and the Great Recession that followed the financial crisis in 2008. Neither of these major events had much of a lasting impact on real estate prices and the market has been heading on a firm upward trajectory ever since.
With properly prices more than tripling in the prime areas of the Seven Mile Beach corridor and South Sound over the last four years, investors that purchased a home in the Cayman Islands have enjoyed strong price appreciation and income from an investment based on the future economic growth potential of an Island seeing a prolonged expansion. There are many reasons why the Cayman Islands real estate market has been primed for an advance and chief among them is the confluence of conditions that makes the Cayman Islands such a hot spot for international investment at this time. Just 500 miles south of Miami the Cayman Islands imposes no property taxes and operates under a strict rule of law, which protects the interests of creditors.
NOW IS THE RIGHT TIME TO INVEST IN REAL ESTATE
While the attention has mainly been on stunning condos on Seven Mile Beach and new residential developments in South Sound, where the real price appreciation had taken place, there is more to the Cayman Islands than this and canny investors can find a bargain property now out in the districts. West Bay, for example offers spectacular coastal views and a real Caribbean community with excellent transport links that will get you to work in just a ten minute drive, but when you come home you get the real feeling of living in the countryside. Otherwise you can look at the district of East End, where the old fashioned spirit of Cayman runs true with picturesque properties dotted among white sandy beaches full of the legend of pirates and fresh line caught fish for dinner. North Side, with its proximity to Rum Point, the island’s favorite spot for an afternoon getaway, where locals relax on hammocks to the lap of the calm waves of the Caribbean Sea, is another untapped part of the Cayman Islands where you can find a property suited to your requirements without the high price tag that comes with property in the more developed areas.
