Planning to buy a property in Grand Cayman? Prime Locations can help!
October 31, 2018

Planning to buy a property in Grand Cayman? Prime Locations can help!

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Buying a property is a significant investment so it is important to understand the advantages and pitfalls that can come with any real estate purchase. The Cayman Islands economy has grown rapidly in recent years, prompting a growing number of people to invest in Grand Cayman property. Transactions have been driven by offshore investors looking to acquire a vacation home and generate capital appreciation on their property, and those seeking to gain full time residency in Grand Cayman.

There are many turnkey and under-construction homes for sale in Grand Cayman and the sister islands. Prime Locations is experienced and skilled at helping buyers determine which property best meets their real estate investment goals. The first step in the process is introducing buyers to the different neighbourhoods on Grand Cayman. Each area features unique benefits and collectively, there is almost certainly to be a neighbourhood that is right for you.

George Town: 

This is the capital city of the Cayman Islands. This destination is best suited for people having a career in finance or government services who want to live in close proximity to their place of work. Most of the properties are in mid-range to mid-high range prices. Most of the homes in this area have garden and pool facilities. It is worth noting that the capital city is currently undergoing plans for significant revitalization, including expansion of its cruise ship facilities. George Town homes for sale in Grand Cayman, also have easy access to resorts on Seven Mile Beach, hospitals, schools and the airport.

Prospect:

One of the closest East End communities on the island to George Town, this neighbourhood has easy access to the capital city as well as to the Grand Harbor complex, where a popular supermarket, some restaurants and a large skateboard park are located. When looking up the properties for sale in the Cayman Islands, you will find properties in this region at competitive prices compared to the Seven Mile Beach corridor and South Sound. This neighbourhood is poised for further growth.

Savannah:

Savannah has both in-land and waterfront properties for sale. A popular locations for local families in between the eastern regions and Georgetown and Seven Mile Beach.

Seven Mile Beach:

There are beachfront and canalfront homes for sale in the Seven Mile Beach corridor. This area is normally considered the most exclusive on Grand Cayman. Easy access to one of the best beaches in the Caribbean, and in close proximity to fine restaurants and Camana Bay, as well as two golf courses, this is a highly desirable area in which to live or own a property that can be rented short or long term.  

West Bay:

West Bay offers a delightful blend of traditional and contemporary homes.  Gated communities such as The Shores offer a more affordable entry into the executive home market compared to Seven Mile Beach, and first time home buyers will find some amazing opportunities in West Bay. The expanded Esterly Tibbetts Highway has made the commute to and from this area much easier.

East End:

The East End in Grand Cayman has much lower population than the rest of the Island. Due to the fact that it is a village, the property prices are low and still offer a promising lifestyle for the residents. A famous attraction in this area is the East End Beach and a few dive sites. With other natural attractions, properties in this area are far from important amenities like schools, hospital etc but provide good rental returns from the tourists.

Rum Point:

Like a vacation destination, the properties are ideal for those seeking a second home or a property to rent short term. A new ferry service from Camana Bay to Rum Point can work as makes access more convenient. If you are seeking a traditional Caribbean neighbourhood, Rum Point is a popular choice. Apart from being far from the capital, Rum Point offers you various activities to engage in, like paddle boarding, water skiing, kayaking, and sailing.

The team at Prime Locations can help you identify the best Grand Cayman real estate investment properties for you based on your budget and preferences.  We look forward to being of service.