Miles of Happy and Safe Living - Seven Miles Beach

Seven Miles Beach is one of the prime locations on the Grand Cayman that attracts huge tourist traffic every year. Apart from being a sought after tourist location, it is also a wonderful place to own a property in Cayman Islands. Being an ultra-developed area, it is the perfect place for families to settle down. Either buy yourself a piece of property here or consider getting hooked up on rent.

Residential areas on Seven Miles Beach are split up into two portions, one, that touches the beach and the other, that is on the other side of the road. Planning to touch the golden sand every day? Properties here are upscale and expensive to buy. Nevertheless, benefits are huge! If however it is rent that you are considering, this place has a lot of short term things to offer. The George Town Villas, Sunset Cove, the Grand view and Seagull Condos offer long-term rent facilities. There are a set of great condos, prepared to be sold and rented out. Scan through your options to decide on one of them.

Britannia is another popular area that offers lucrative ways to settle down here. But be prepared to have a deep pocket if Britannia is what you seek. Jennifer Drive, Parkway Drive, Canal Point Drive and Whitehall estates are another set of great places to live in near the Seven Miles Beach. A relatively quite place, affluent with all kinds of facilities, ideal for families to stay, this place is worth considering!

Snug harbour is yet another great place to stay for people with families quite for sometime. It is towards the east of West Bay Road. Easily commutable and at a preferably close distance from the main Seven Miles Beach, you could find middle and elite housing facilities here. The Snug Harbor Park is an added advantage for the residents here. Consider shifting to this place if you have small and teenage kids. A thoroughly joyous neighborhood and a place that is comfortably in close peripheries to all kinds of mere and perky facilities, it is an ideal residential location.

Buying a Land in Cayman Islands

Buying property in Cayman is nothing short of putting feet in paradise. Buy a house, move in, rent in, get hold of a condo or simply buy a land to construct your house as per your requirements. Ready-made homes are always welcome, specially when you are a foreign investor here and want to move in as soon as possible. Even when you have been staying here for quite sometime and
have planned to continue the stay for your entire life, buying a ready-made property is a good decision. But if you want the liberty to construct your own house, at your own sweet time, well, it is best for you to buy a piece of land for yourself.

Land purchasing is as easy as purchasing a home or a condo. Mortgages and loans are easy and so are insurance plans. Better yet, is the fact that, once you go for land purchase, the one time stamp duty that you have to pay would pertain to the cost of the land and not that of a purchased home, which would, by any means be far less than that on a home.

Coming to the process of how you actually would make the payment, well there are two ways of doing it. Either pay 10% of the total amount as a deposit and the remaining 90% after the property is transferred in your name or make staged payments. You can decide on any of the options, in a mutual conversation with the seller. Most sellers have pre-determined contracts that state the procedure of payment. You can negotiate depending on your budget and the loan facilities you have at hand.

Both these options are equally good and yielding. For the staged payment option, it is good if you talk to your banker. For the legalities regarding the liens and other liabilities on the property, it is better to get a good attorney to do the verification task for you. Your real estate agent could take care of the other things. But take care that your real estate agent clears up things with the seller before any finalization step is taken towards the concerned property.

Real Estate in Cayman Islands - Make Rental Investment Pay Off!

The magic of Cayman does not let anybody escape its magnetism. Once her, you are bound to give a thought on whether to make this land your homeland or not. Investment in real estate in Cayman Islands, hence, is a thriving business.

There are three potential ways to invest in real estate in Cayman Islands, and all the three have their reasons and their positives. In case you wish to stay back here for your lifetime, it is better that you aim at owning a property as per your private needs, In case you don't want to stay back permanently, but intend to come back every year for a sweet vacation, then it is better you look for fractional ownership. If however, earning from your investment is your primary motive, it is better you go for rental investment in real estate in Cayman Islands.

Investing in rental property is a potent way of income in Cayman islands. However, there are certain factors that decide the kind of rental property you would like to invest in and the area you would make the investment in. First thing, you need to be clear as to who your prospective tenants would be. Bifurcation of real estate in Cayman Islands majors in three groups of people - tourists, students and those who stay here on the legalities of a work permit. Deciding on which one of these three groups you would be targeting, you can finalize the location and development pattern of your property. For example, Seven Mile Beach would be an inappropriate place for students, since rentals here would be terribly high! But this place would just be appropriate for tourists, since they would prefer an accommodation near the sea. Similarly, families would find it accommodative in areas that are close to schools, playgrounds, parks, grocery and the market.

Number of rooms would also depend on which group you are concentrating on. While students would be more than happy with a single bedroom accommodations, families would need a slightly larger place. Yet, tourists would favor a place which is high on perky amenities  Whether to rent or to lease, would also depend on your choice of tenants. Those who are staying on a work permit, would be better tweaked for a lease. Students and tourists would prefer rentals. 

Decide upon your prospective and invest wisely. That is the best way to encash the rentals section of investments on real estate in Cayman Islands.

Purchasing Real Estate in Cayman made easier

Planning to purchase a land or a villa for yourself in the Cayman Islands? Well, legalities, they are always there. But possessing a property in the Cayman Islands is not difficult at all! Here is a summary of what all you need to do to invest in real estate here.

The first thing you would have to do is, get your property checked up regarding any kind of pending liability that the prime owner is yet to pay. Once clear with that, you can concentrate on the stamp duty. Every non-Caymanian person, who buys a property, has to pay a flat 7.5% as stamp duty. Stamp duty is actually an amount which you need to pay to the government in lieu of the property that you are possessing.

Previously, Caymanians had a specific consideration as far as the stamp duty was considered. They were supposed to pay 4% as against 7.5% that is to be paid by non-Caymanians. First time Caymanain buyers, however, would still enjoy benefits. The percentage of stamp duty would depend on the value of investment that is being made. Similarly, difference would also be realized with the fact as to whether it is just a bare land that you are buying or a ready-made property that you are purchasing. If you purchase a bare land, effectively, the stamp duty would be levied on the land and not on the residence that you build up on that land. But worth remembering, don't pay your stamp duty after setting up your palace, or else you will have to pay accordingly.

Apart from the stamp duty, you would also have to shell out 1% on your mortgages if they are less than CI$300,000. Above that, it would increase to 1.5%. Legal procedures and registration can claim upto another 1%, so plan your budget accordingly.

And once your property is ready, there is nothing more to play! No capital gain taxes and not property taxes! Just a peaceful life along with your loved ones in the heaven cocoon of the Cayman Islands. So reach out and buy one for yourself!