If you are looking for the best place to invest your money, then why not look towards an offshore market? Perhaps such a market will be able to answer your prayers and make your dreams come true! If this is the case, then you can look towards locations such as the Cayman Islands to invest in real estate such as condos and apartments, which can offer you a substantial return on your investment.
Today, the Cayman Islands are experiencing a boom in economy. Much of this economy is being fuelled by its massive tourism potential. Moreover, the Cayman Islands are now the fifth largest offshore financial centre in the world and the capital of the hedge fund industry, making it a popular destination for finance professionals from around the world.
Luxurious Home in the Cayman Islands
Condos and Apartments as an Investment idea
Needless to say, upscale Cayman property such as condos and apartments are much in demand here and form the perfect investment vehicle for those planning to make it big in the real estate industry in the Cayman Islands. Besides, the tourism industry here has also done its bit to bring in people who have been fascinated by the natural beauty of the islands and the idyllic laid back lifestyle here.
If you are looking for Cayman condos for sale or Cayman residential property for sale, then you will find ample choice here. Besides Cayman residential property, land also is a perfect investment vehicle in the Cayman Islands. Those who are interested in developing condos, apartments, and residential villas also find the Cayman Islands as an ideal destination for the sake of investment and further residential development. These properties can be developed to generate further income as they can be leased, rented, or even sold to a growing section of professionals and individuals coming to the island for work.
To give you a basic idea of the Cayman Islands real estate scenario, the Seven Mile Beach, which is considered to be amongst the best beaches in the world, is a favourite and the most expensive development spot for condominiums. Cayman Kai, which is located in the island’s north, is a favourite development location for single family homes.
Many foreign investors are also taking keen interest in residential construction activity here. An American real estate company Dart Realty has also made significant investments in the Cayman Islands, developing Camana Bay into an urban and upscale location.
Real Estate Law in the Cayman Islands
The laws concerning real estate here also make the Cayman Islands a hot favourite destination for investment. The Cayman Islands government does not levy any annual property taxes apart from a one-time duty of 7.5%. Besides, there are no restrictions on foreign ownership of property by individuals. What’s more, land registration in the Cayman Islands is based on the ‘Torrens’ System, which is a simple and straight-forward way of recording land transfers. The title to land is recorded in a modern and centralized land registry and is granted and guaranteed by the Cayman Islands government.
Real Estate Investment – Other Options
If you are serious about Cayman real estate as an investor, you will probably be surprised to find that there is considerable prime ocean front property located in the sister islands – Cayman Brac as well as Little Cayman. Such properties are ideally suited to those who would like to retire and lead a more relaxed island lifestyle. If you would prefer to invest in alternative types of property, then there are many affordable townhouses as well as family homes. Various types of land too are available for sale – which includes waterfront, canal front and even in-land plots. The recent trend for ultra-luxurious houses and condominiums makes the investment scenario here very attractive. Finally, timeshares are another form of real estate investment in the Cayman Islands. This type of investment is offered by several small and large scale properties here. You can offer timeshare schemes as a real estate investment strategy.
As the economy of the Cayman Islands continue to grow strongly along with its stable and sophisticated government and growing employment market, we will continue to see an influx of investments. Besides good infrastructure such as roads and power, the islands offer quality health care and education as well. Investing in prime property such as ocean front Condos and Apartments in the Cayman Islands is a good idea indeed. All the best!