Real Estate

Grand Cayman has a thriving long-term rental market, ranging from small apartments to luxury condominiums and family homes. Most properties are rented furnished, and many come fully equipped with linens, kitchenware, etc. Accommodation is usually of a high standard. Rents have risen steadily in recent years and are much higher in popular tourist areas. A one-bedroom apartment in a good residential area currently rents from US$1,700, a two bedroom one from US$ 2,200 and a three-bedroom house in a popular tourist area may exceed US$4,000 a month.

The local real estate market is buoyant; there are plenty of homes and apartments for sale and many new developments, including affordable "townhouse" complexes. A 2 bedroom and 2 bathroom condominium is available for an average of US$372,000. A 3-bedroom house will cost on average US$504,000.

Building a home remains popular, with land still available. The price of lots, especially around George Town, is rising sharply. Of course, waterfront property is always a solid investment. Sandy beachfront lots start from around US$200,000.00 (100 ft wide) and soar to an incredible US$4 million for the same on Seven Mile Beach.

There are no restrictions on foreign ownership of land in the Cayman Islands. A modern land registration system is run by the Government's Department of Lands and Survey. Stamp duty is payable on transfers of land and mortgage deeds. To download a list of stamp duty charges click here.

Real estate prices are lower on the Sister Islands than Grand Cayman but both islands have experienced a lot of activity since the end of 2006. Investors and developers will find prime ocean-front property available on both Little Cayman and Cayman Brac, ideally suited for retirement property or for those looking for a more relaxed lifestyle.

The Cayman Islands have a sophisticated real estate industry with highly trained professionals who can provide detailed information on the rental or residential listings. For a listing of real estate companies and agents click here.