Cayman Islands Property Investment

Situated at about 500 miles off the southern portion of Miami, the British Overseas Territory of the Cayman Islands is considered a major financial hub in the Caribbean region. Many investors love the territory because it does not impose capital gains, corporation, and even income taxes. How does the local government generate revenue? It is through indirect taxation. That is why the area is practically and logically a haven for investment properties.
The Cayman Islands is composed of Cayman Brac, Grand Cayman, and Little Cayman. The islands could be found northwest of Jamaica and south of Cuba. The islands are considered peaks of the Cayman Trench, a massive underwater trench. It is believed that all three islands that form Cayman Islands have been formed from large coral heads that cover submerged peaks from the ice age. To many tourists and property investors, the Cayman Islands is perfect because of the deeply warm and independent inhabitants who boast of life’s quiet charms. This complements the debatable lack of dramatic sceneries and steamy nightlife that are characterized in other Caribbean islands.
Tourism is a major industry. Annually, there are about more than a million tourists who come to the territory. Aside from the grand beaches, Cayman Islands is also best known for its globally popular scuba diving sites with pristine crystal-clear waters. There are many more tourist attractions like the Mastic Trail, the Cayman Turtle Farm, and the Seven-Mile Beach. The capital (George Town) serves as an important cruise ship port. The population is quite small at just about 52,000 (as of 2006 estimate). Thus, it is logical that unemployment is not a problem in this tax-free haven. Many vacationers and tourists also rave about the Cayman Islands dollars’ fixed exchange rate against the US dollar (CI$0.80 to a single US dollar).
Cayman Islands investment property market could run gamut from the single family apartments to the luxurious beachfront investment properties. Whatever form of vacation property investment you like, the islands surely has something to satisfy you. Investment property clubs note that the property landscape in the area is diversified and varied. Through the years, prices of real estate have been high, especially those intended for rental businesses. However, following the devastation of Hurricane Ivan, many properties have fallen below market value. If you are finding discount property opportunities, Cayman Islands has many options for you.
Investment property clubs assert that the Cayman Islands investment property market is very competitive. In place is a multi-listing system that facilitates vast exposure for investment properties. The system also enables buyers to take broader and freer access to practically more available properties. Just like other real estate markets, the one in Cayman Islands is obviously not spared from the usual highs and lows that strike such markets. But the good thing about Cayman Islands investment property is that it is able to mount a constantly steady growth in value and in development. For sure, there is a property investment that could suit and satisfy your requirements for properties.