Avoid Over Paying for a Property in Grand Cayman

Written by: James Bovell

Grand Cayman property offers an incredible bargain for what you get. Canal front property offers stunning views and ample living space, with modern accommodations and plenty of land. However, those opportunities are beginning to dry up. By some estimates, Grand Cayman has seen a 30% decrease in available properties.

If you want to make Grand Cayman your home, you may have to off the beaten path a bit to find a great deal.

There are a few positives working your favor. The first is that living inland puts you closer to city life. Grand Cayman isn’t a large place, so you’re never very far from beaches and relaxation either. Property in Cayman offers the same amenities in terms of Internet access and commerce whether you’re on the rim of the island or downtown. For those settling here, it’s far more convenient to shorten the commute to work and spend weekends at the beach than deal with traffic going into the city.

Cayman homes that are in the range of $2.5 million or less will become far more appealing to serious investors looking for a place to settle down. What does this mean for home owners already on the island?

Hold onto your property and consider asking an agent to get comparables in your area to gauge its value. If you are planning to relocate to the Cayman Islands, you might be able to pay off your next home entirely by selling off your beach front property and converting to something smaller. This is a great idea for retired or semi-retired people, as well as those who can work remotely.