The Cayman Islands are a popular destination not only for recreational travel but also for investors looking for a safe place to purchase land or even a second home.
Some buyers end up moving here, attracted to the islands’ safety, modern infrastructure, high standard of living, and more.
If you’re seriously thinking about searching for Grand Cayman condos for sale with the intention of moving here, there are a few things you should know beforehand.
One is that there are no restrictions on foreign ownership of property and basically anyone can buy land, or a house or a condo here.
You should also be prepared for what condo living entails, keeping in mind that condos for sale in the Cayman Islands only represent one potential opportunity among Cayman Islands real estate.
Potential Advantages of Grand Cayman Condos for Sale
While houses and land might be attractive to some buyers, luxury condos for sale in Grand Cayman offer something a little different.
Condos offer slightly different advantages and lifestyles than a house might. For example:
- Condos typically offer shared amenities, like swimming pools and gyms.
- Condos typically come fully furnished which can streamline move-in.
- The homeowners’ association will typically cover certain repairs that you’d otherwise have to pay for if you owned the house.
Since condos can potentially be affordable and it’s relatively easy and convenient to move into them, many buyers opt for them.
Living in the Cayman Islands: What It’s Like
If you’re reading this and thinking about making a new home for yourself in the Cayman Islands, here are a few things you should know before you commit one way or the other.
- The Cayman Islands boast highly-developed, modern infrastructure
The Cayman Islands are modern, well-developed, and offer extensive infrastructure and offer plenty opportunities for shopping, fishing, boating, enjoying the culinary arts, history and culture, and getting involved.
- The islands are very safe
The Cayman Islands are one of the safest areas in the Caribbean and even the world. The islands are also proud of a strong collective sense of community.
- You need healthcare in order to work in the Cayman Islands
Although you need healthcare to work in the Cayman Islands, employers are required to pay for half and access to healthcare is very good. With 4.5 doctors per 1,000 residents, 3 hospitals (and plans for another) and over 200 healthcare facilities, help is never far away.
- U.S. mailbox services are available
If you’re coming from the States, you can still get your mail delivered to you in the Cayman Islands. Mail Boxes, Etc. is a service that will import mail and other goods to Grand Cayman for you, easing the transition.
- Opening a bank account can be (relatively) stress-free
There are several well-established banks in the Cayman Islands, particularly Cayman National Bank, Scotiabank, Butterfield and RBC. Their customer service is excellent and they can help you establish accounts right away so you can ensure your finances are in good order and have access to your funds right away.
- You can import most personal goods duty-free after the move
Most individuals who have lived in the Cayman Islands for over a year or who have secured a permanent work visa may be eligible for one duty-free shipment of their personal belongings. New items and vehicles are not subject to this exemption, however, so plan accordingly.
- Shipping costs are higher
We are islands, after all, so shipping most consumer goods here is pretty expensive. Expect to pay more for most foods and other niceties. Some larger retailers will still ship here, but smaller ones may not or will charge a lot for shipping.
- There’s still good (if inconsistent) supply of most consumer goods
Even though shipping goods to the Cayman Islands can be expensive, it’s also important to note that we still have really healthy supply chains and you can get most things you’re used to in the United States here. The supply is not always as consistent, and you might have to visit a few shops to find what you’re looking for, but you should still be able to get all of the things you’re used to in the States, even if you can’t find it all at the same place.
- You can bring your pets (with the right permits)
The Cayman Islands are pet friendly, but also rabies-free, so all pets must be tested and awarded a passport through the Department of Agriculture. Still, the Cayman Islands welcomes four-legged members of the family subject to the above regulations!
Ready to Start Looking at Condos for Sale in Grand Cayman?
If you’re ready to start checking out Grand Cayman condos for sale, get in touch with us at 345-949-5250. We’ve helped many potential buyers like you find the ideal properties for them and their families. Whether you’re looking for something in the action in George Town or Seven Mile Beach or another area of the island, we’ll help you find it.