Cayman real estate offers a uniquely high standard of living. Located in the Western Caribbean Sea, the Caymans are classified as British Overseas Territory. The island government imposes no real estate tax. There are three islands: Grand Cayman, Cayman Brac, and Little Cayman. The three provide those interested in Cayman real estate with options for style of living. The Caymans are highly connected and in close proximity to the North American mainland. With the luxury real estate market found on the islands, the Caymans are a notable corner of the world for anyone in search of picturesque island life.
The Cayman Islands Offer High Quality Of Life Without Taxes
Cayman Island luxury real estate market arose in the 1960's when the islands became a tax haven independent from Jamaica. There are no taxes on Cayman real estate; the government relies on import tariffs. There is low crime, and with an average income close to 42,000 Cayman Island Dollars (1 KYD = 1.25 USD), the Caymans enjoy the highest standard of living in the Caribbean and 14th highest GDP per capita in the world. The islands have more registered businesses than residents. The Caymans comprise 102 square miles of land with a population below 53,000. Cayman real estate property value is averaged around $1.5 billion.
The Three Islands Present Variety In Cayman Lifestyle
Each island offers a variation of serene Cayman real estate life. Grand Cayman is largest and most populous. The island has a highly developed infrastructure and economy, while luxury real estate remains old-world and charming. The island is home to the well-known Seven Mile Beach featuring ocean front homes and condominiums. The next island, Cayman Brac, offers similar luxury real estate but in a less crowded land area. This middle island is named after its limestone bluffs. Here, Cayman real estate ranges from large tracts to small ocean-side parcels. Cayman Brac offers extracurricular activities like rock climbing and hiking. Little Cayman is the smallest of the three. Little Cayman real estate showcases a small-village atmosphere, more intimate than the other islands. The island is notably close to special diving sites highly recommended throughout the Caribbean. There are few vehicles. Often those permanently living on Grand Cayman will vacation to Little Cayman.
Cayman real estate features a tax haven, a high standard of living, a well-connected while still pleasantly removed living space, and a variation of the quaint life. The three islands are well-developed and still developing, making the Cayman real estate market the premium corner of the world for luxury living. From the beaches to the scuba diving to the peaceful and leisurely community, the Cayman Islands represent the prime destination for island dwellers and vacationers.
