It is a good time to buy…..(In the Cayman Islands)
The Cayman Islands is an island paradise with no direct taxation, a competitive offshore financial industry, one of the safest islands in the Caribbean, political stability through its relationship with the United Kingdom, accessibility of transportation, excellent communication and the highest per capita income in the Caribbean.
The Cayman Islands is an attractive place for investors worldwide, including many North Americans who are looking towards the Caribbean for their second or retirement homes.
Unlike U.S. real estate that is expected to depreciate slowly for a long time, forecasters are expecting to see double digit appreciation for at least the next 5 years in the Cayman Islands.
There are no restrictions to foreign ownership and there are also no income taxes, no capital gains taxes, no property taxes and no inheritance tax. The government receives money through indirect taxation methods, such as licensing for financial industries, imports and tourism.
Contacting a local real estate agent would be the best route to go, but do not expect to get a mortgage, buyers in the Cayman Islands bring cash. Outside of Grand Cayman, there are still prime oceanfront properties available in places such as Cayman Brac and Little Cayman.
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