One of the greatest investments one can make in their lifetime is real estate property. When done just right, you can not only have a sufficient location for residing or operating your business in, but also a place that can accrue in value, bringing you more money when it comes time to sell it down the road.
This principle applies to both domestic and international properties. While many people tend to purchase real estate in their own countries, doing so in foreign countries is a more unique and potentially more beneficial investment.
One prime example of such a location’s real estate is the Cayman Islands. Located in the heart of the Caribbean Sea, the territory is one nearly anyone can purchase property in and reap substantial benefits from for years to come.
The big question, though, is this: should you invest in Cayman Islands real estate? We believe that you should (if we haven’t already made that clear), but here are just a few reasons as to why.
Great Rental Yields for Rentals
As aforementioned, one of the key elements of investing in real estate is that, when done properly, you can have an excellent ROI. Fortunately, that is generally true for real estate in the Cayman Islands, especially for those who choose to purchase then rent out their properties either for short or long-term.
According to the Global Property Guide, average rental yields in the Cayman Islands ranged from 5% to 8.2% as of December 2019. These percentages are indeed quite impressive and are only expected to increase in the coming years as COVID precautions are lifted and tourism booms once more.
This makes investing in property in the Cayman Islands an excellent choice, especially for those looking to purchase property, then rent it out at their own discretion.
Located in Stunning Natural Beauty with Excellent Weather
When purchasing a property, whether it be strictly residential or commercial, taking the weather and climate into consideration is exceptionally important. Fortunately, the weather and overall climate are some of the most attractive features of the Cayman Islands.
The Cayman Islands only receive about 46 inches of rain per year, most of which accumulates in the rainy season from May to October. The Islands also have 300 days of sunshine per year. How about that for “warming up” to the idea of Cayman real estate?
Not Far from Other Locations
Are you worried about being or even just feeling like you will be located on a desolate island in a foreign land, far from “home” and other locations you enjoy visiting? Not to worry as the Cayman Islands are within reach of both domestic and international locations.
The Owen Roberts International Airport is on Grand Cayman (the most populous and popular island of the three), which provides direct access to the other two islands (Cayman Brac and Little Cayman) along with international access, such as cities in the USA, Canada, Cuba, Jamaica, and beyond.
Relaxed Island Life
There is something to be said for tropical island life. Simply walking around and enjoying the sun, the sea breeze, the wafting aroma of nearby restaurants, the beach, the ice-cold drink in your hand, and life in general is an undeniably soul-revitalizing experience.
Now imagine having that at your disposal day in and day out. The Cayman Islands has that and then some. Paired with the consistently beautiful weather, you can enjoy life and feel more relaxed every single day, making the most out of the human experience.
One of the biggest mistakes of purchasing Cayman Islands real estate, however, is not working with one of the most trusted and knowledgeable real estate companies in the business.
That is where Crighton Properties can help. They have decades of experience and work diligently for every one of their clients. Give them a call today to get started on finding your dream property in the Cayman Islands: 345-949-5250.