Written by: RE/MAX.ky
Summary: Cayman Island land is some of the most valuable in the world and excellent for investment opportunities.
A Cayman Islands condo might not sound like much at first glance, but the real estate sits on some of the most highly valued and sought after land in the world. The Cayman Islands are an excellent destination for a vacation, retirees and business people alike. The Cayman Islands enjoys a thriving tourism industry along with an active banking industry, which both assist in the expediential growth of the islands. Here are some of the top reasons why people own property here.
Tax Free Income
All property purchased on the island is subject to “Stamp Duty”, a one-time fee on the purchase of your property. It is common for those who purchase real estate in Grand Cayman to buy a condo that they’ll live in for part of the year, and rent or lease for the remainder of the year. By renting their property, they provide income to assist with costs such as maintenance, or property management. The income is tax free in a traditional sense, but you will pay a small stamp duty on documents related to the property. Still, investing in property on Grand Cayman is a great long-term investment for those determined to lower costs.
Beautiful and Thriving
Grand Cayman was once considered “the island that time forgot”, however today the island is bustling with activity thanks to our growing banking and tourism industry. Everything from food and the night life, to new construction to a growth in small business opportunities – the island experience is one not to be missed. Ask a real estate agent in Cayman for a tour of the island, and experience first-hand how residents and tourists alike enjoy island living.