Real Estate in the Cayman Islands
The Cayman Islands has one of the most developed and lucrative real estate markets in the Caribbean. It attracts both local residents and foreign investors, especially due to its tax-free environment, strong tourism industry, and high standard of living.
Here’s a detailed breakdown of the real estate landscape:
1. Property Types
You’ll find a wide range of properties available across the three islands:
On Grand Cayman:
- Luxury beachfront condos (especially on Seven Mile Beach)
- Single-family homes in suburban and gated communities
- High-end villas and estates
- Commercial properties (offices, shops, hotels)
- Investment properties for vacation rentals (Airbnb)
On Cayman Brac & Little Cayman:
- Eco-style homes, vacation cottages, and undeveloped land
- Less expensive than Grand Cayman
- Popular with retirees and remote workers
2. Property Prices (Approximate)
- Seven Mile Beach condos: $1 million – $10+ million USD
- 3-bedroom homes (non-beachfront): $400,000 – $800,000 USD
- Land on outer islands: $50,000 – $250,000 USD (depending on size & location)
- Cayman Brac/Little Cayman homes: Often 30–50% cheaper than Grand Cayman
3. Financing & Mortgages
- Local banks offer mortgages to residents and non-residents, often requiring:
- 10–40% down payment
- Good credit history
- Proof of income/assets
- Interest rates: Vary between 5–8% annually
- Some investors purchase in cash, especially for vacation homes
4. Foreign Ownership
- 100% foreign ownership is allowed with no restrictions on property type or location.
- No need to be a resident or citizen to own land or a home.
- No annual property tax, no capital gains tax, and no inheritance tax.
- A one-time Stamp Duty of 7.5% is paid at purchase (based on the property value).
5. Rental Market
- Strong long-term rental demand from expats, professionals, and government staff.
- Booming short-term rental market (Airbnb, VRBO) in tourist zones like:
- Seven Mile Beach
- Rum Point
- Cayman Kai
Rental Yields:
- Long-term: 4–6%
- Short-term: Up to 8–10% with good management
6. Real Estate Hotspots
Grand Cayman
- Seven Mile Beach: Luxury condos, best resale value
- Camana Bay: Urban-style mixed-use community
- South Sound & Prospect: Popular with families
- Rum Point/Cayman Kai: Quiet beachfront homes and vacation properties
Cayman Brac
- Ideal for retirees and nature lovers
- Quiet, with land still available at low cost
Little Cayman
- Known for eco-tourism, diving resorts, and off-grid living
7. Legal & Regulatory Info
- Real estate is regulated by the Cayman Islands Real Estate Brokers Association (CIREBA)
- CIREBA agents must be licensed and follow professional standards
- All property purchases must be registered with the Land Registry
- Title is guaranteed by the government, ensuring secure ownership
8. Why Invest in Cayman Islands Real Estate?
- Stable economy and government
- High demand for rentals
- World-class infrastructure
- Safe, clean, and hurricane-resilient construction
- Global appeal with low taxes
Summary Table
| Aspect | Details |
|---|---|
| Foreign Ownership | Allowed 100% |
| Taxes | No income, capital gains, or annual property taxes |
| Stamp Duty | 7.5% on property purchases |
| Price Range | $400K–$10M+ (Grand Cayman); $100K–$500K (Brac/Little) |
| Hot Areas | Seven Mile Beach, Camana Bay, South Sound, Cayman Kai, Rum Point |
| Rental Market | Strong long- and short-term demand |
| Financing | Available for residents and non-residents |
| Regulation | Managed by CIREBA; secure land title system |
