Buying land for sale in the Cayman Islands is one of the most popular and safest forms of Cayman Property investment. Land, as with all real estate property here, is guaranteed by the Cayman Islands Government through its Land Registry. There is typically no need for title search and an efficient legal system and one of IRG’s expert real estate professionals means buying land in Cayman allows most land transfers to occur within 30 days.
What is the best thing about buying Cayman land for sale? There are no property taxes in the Cayman Islands and as such there is no holding cost for raw land, which again make it an attractive proposition. Some things to know if you are interested in buying land in Cayman:
• Quality of the soil and substructure determining whether pilings, piers etc are needed to build on the site as opposed to a simple strip footing
• Aspect (direction in relation to the sun’s path)
• Inland sites are normally priced on a per square foot basis and waterfront sites, especially beach, on a price per running front foot basis.
• Zoning and restrictions . It is important to understand the development restrictions such as boundary setbacks and densities that specific planning zones place on the site. These include rights of way and easements, both public and private.
IRG can provide detailed advice on all of these areas when you are thinking of buying land in Cayman. Just email us at [email protected] and we will help you make the right choice.