The Cayman Islands is an English-speaking British Overseas Territory in the Caribbean. It is a stunningly beautiful set of three islands famed for their sandy beaches, turquoise waters, and inviting culture. The Cayman Islands has been a popular tourist destination for years, and it has emerged as an opportunity for real estate investors. The Cayman Islands is also home to famous Seven Mile Beach located on Grand Cayman, with a long stretch of white sand, turquoise water, and gorgeous sunsets.
Investing in a property on the Cayman Islands is an ideal way to secure a dream home in an unparalleled setting. Cayman offers a variety of property investment opportunities ranging from pre-construction to resale and from residential to commercial, to include land, single family residential, and condominiums. The result of this mixed offering is an ideal location for a diversified real estate investment portfolio with an assortment of properties at different price points.
Let’s explore what makes Cayman Islands an incredible investment opportunity.
1. Laws and Regulations
The Cayman Islands is a stable, safe nation with a strong democratic-elected parliamentary overseen by the UK government. It is a tax-neutral country with no direct taxation, so there is no income tax, wealth tax, or property tax for those that live on the island. The Cayman Islands has no foreign ownership restrictions, and foreign investors can obtain financing through local banks.
2. Real Estate Market
The Cayman Islands has gorgeous beach homes and properties all along the coast and in many appealing areas. Purchasing property here also makes for an incredibly sound investment. From 2019–2021, Cayman experienced a 15–20% yearly appreciation in property prices. Unlike many other countries where interest rates are impacting the market, property prices in the Cayman Islands have still been appreciating 10% year over year as of December 2022.
3. Quality of Life
The Cayman Islands provides an unmatched quality of life. With incredibly high safety ratings, a thriving economy, and world-class infrastructure in the backdrop of a tropical paradise, this Caribbean territory has it all. It also boasts top-notch healthcare, excellent schools, and is also known as the culinary capital of the Caribbean.
4. Location
The Cayman Islands is located within close proximity to many major cities along North America’s East Coast. It is only an hour’s flight to Miami, and there are multiple daily flights to the Miami International Airport. There are also direct flights to London, Toronto, and many U.S. cities, with the newest addition being Los Angeles.
5. Post-Covid
The Cayman Islands government acted quickly to curb the spread of COVID-19 in 2020, implementing strict quarantine requirements and lockdown measures. The islands became COVID-free in less than three months and opened back up for residents in August 2020, allowing them to live with no restrictions for over a year. Cayman’s economy continued to thrive despite the consequences of COVID-19, such as border closures that heavily curbed tourism. Now that borders have reopened, tourism has increased. Q4 of 2022 is projected to bring in more tourists than Q4 of 2019. These points illustrate Cayman’s economic resilience, strong governance, and long-term viability for investment.
Find Your Cayman Dream Home with Kerstin Stiebel
Kerstin Stiebel is a real estate agent and member of the CIREBA (RE/MAX Cayman Islands Real Estate Brokers Association) as well as a licensed REALTOR® in North America. She is a luxury-trained professional and has the highest-level Guild Certification from the Institute for Luxury Home Marketing. Kerstin Stiebel and the Trusted Advisor Group are a team of experts that provide services such as personal and legal guidance, relocation services, and real estate structuring to help clients find the Cayman home of their dreams. Kerstin and her team use their guiding principles of Discretion, Integrity, Loyalty, Competence, and Communication to help clients navigate the home-buying process. Kerstin and her group are the team to help you find a property in this stunning island paradise.
Kerstin is proud to call this paradise, the Cayman Islands, her home. After a decade of visiting and making many special memories, she finally fulfilled her decade-long dream of living and working in Cayman. She is passionate about everything Cayman and everything real estate. She loves talking to people who have never been to Cayman since it is still a well-kept secret, a jewel in the Caribbean, and there is nothing better than talking to someone after their first visit and hearing, “I can’t wait to go back, you were right, best place ever!”
You can contact Kerstin Stiebel at 1-345-324-9838 or email her at kerstin.stiebel@remax.ky. You can also learn more about Kerstin and her work on her website, Facebook page, LinkedIn profile, or YouTube page.
