Real Estate is Exploding in the Cayman Islands
Written by:James Bovell
The Cayman Islands is entering the summer slow season, but the real estate market is still heating up. You can still find many commercial properties, as well as many water front Caribbean home sales. There are new condominium developments coming to the Seven Mile Beach corridor of Grand Cayman, and solid activity in the industry. The overwhelming majority of Cayman Islands’ residents live on Grand Cayman, the largest of the islands, but there is activity in Little Cayman and Cayman Brac as well.
The hot item is condos. Luxury vacation beach front condos are some of the most desirable homes for sale on Cayman Islands. This year’s sales are up significantly over last year’s. There are many tax advantages to living in Grand Cayman compared to other Caribbean destinations. There are no income taxes , no annual property taxes , and no capital gains tax on the sale of property.
If you are browsing real estate in the area, you’ll want to scope out the fabulous WaterColours residences, which opens in July of 2014. WaterColours is a series of luxury condominiums built on the luxurious Seven Mile Beach stretch of Grand Cayman. As of this writing, there are still a handful of condos available for your viewing and purchase.
The Cayman Islands are constantly in development, and waterfront land is starting to become a scarce commodity. As more properties are debuted, it will be an exciting race to find the best view or the most secluded beaches. Come to Grand Cayman and experience this explosion for yourself with agents from Dream Finders.