Do you dream of living close to the beach? What if we tell you that your dream CAN come true? A beautiful beachfront or sea view villa is possible! Dreams can and do come true in the Cayman Islands! Buying Cayman Islands property can be fruitful for an investor, as well as for a dreamer who wishes to buy his own home!
Most visitors to the Caribbean dream of owning an island home. The truth is that you can live where you dream! Here is a quick post on why the Cayman Islands is the best place to invest in property!
Keep reading to find out more!
No Property Tax
As an investor in real estate, you would be elated to know that you do not pay any property tax in the Cayman Islands. The biggest advantage is that there are no annual real estate taxes. The government does not impose direct taxes! That’s really good news! The only condition is a one-time stamp duty of 7.5% of the actual property cost, paid by the Buyer.
When you invest in Cayman real estate, you would be able to get a home with the best view. Property prices may have increased but there are many homes for sale on the market at great prices. You will need to find the best Cayman real estate agents to show you a list of properties in the location of your choice, to fit your budget.
High Returns on Investment
Investing in real estate in Grand Cayman can be very profitable for an investor. Why? Firstly, there is no property tax. Secondly, you can rent out the property to visitors or residents. Many travellers and businesspersons visit the Cayman Islands for both short and long stays. Property Rental is a thriving business in the Cayman Islands! Property is an excellent investment whether you choose to live in it or rent to tenants.
When property prices appreciate, you can sell to realise a return on investment.
No Restrictions on Foreign Investors
Foreign investors can purchase property in the Cayman Islands without any restrictions. An individual can buy land to develop it according to his or her wishes with Planning Department’s. approval. The house/land can be purchased in the name of one or more individuals, or a corporation. Unlike other Caribbean islands, there is no specific timeframe to develop land purchased in the Cayman Islands.
There are stunning properties in the Cayman Islands. Find the best real estate agent and invest in the finest property. The Cayman Islands is a beautiful place to live! You could stay in your property during vacation, and rent it out for the rest of the year. There are property management companies that can find and screen tenants, collect rent, and upkeep.
In a nutshell, investing in property in the Cayman Islands would be profitable and you would never regret the decision! If a beachfront villa or an apartment with a view is on your mind then head to the Cayman Islands!