Live In Your Island Real Estate Dream Today!

 If you are in search of buying your ideal island home as a main residence or second home as a retirement property or for your dream island vacation rental then this is the right place for you.

Cayman real estate is considered as a very good investment. The Cayman real estate market has shunned the ups and downs of distinctive Caribbean real estate markets, and is rising at a stable and good speed. There are several kinds of Cayman real estate obtainable for the Caribbean real estate investor – beachfront properties, inland properties and rentals are accessible and plentiful.

There are several causes why property investors are moving towards the Cayman Islands real estate markets. The main reason is that there are no restrictions of any type on foreign property ownership. An additional reason is the tax-free condition. Moreover, from the largest of the three islands, Grand Cayman offers the major range of properties for sale varying from luxury beach front condominiums along Seven Mile Beach, to ocean front homes and villas in the laid back Rum Point area.

At My Igloo, we are expert in Residential and Commercial Real Estate sales, Townhomes, Condominiums and Property Development. We provide a varied range of property listings in the Caribbean real estate market and are the special and expert agent for the Cayman Islands real estate developments.

The main aim of My Igloo is to grant the preeminent customer experience by the help of existing, proven technologies while providing the most lucrative marketing resources for its real estate and commercial customers.

If it is a subject of such beauty, then it is a pleasure to have it everlastingly. Visitors mostly end up purchasing apartments and property developers Cayman provides an exceptional range, unbelievable selection in life such as land, condominiums, and houses on the water or in the cabins.

The development and real estate explosion in the Cayman Islands is showing rising curve and has full-fledged to a large room. Going towards to the number of real estate alternatives in Cayman Islands you can purchase land, deckhouses, condos or waterfront homes. In addition, there are homes available along the reef, beside coast and even away from the coast. Moreover, the seafront deluxe homes and areas nearby or easily connect to Georgetown are more costly.

It is easy to see … when it comes to Cayman Islands real estate we will help you with every step of the way.

Contact us now for having more details.

Stunning weather, perfect sandy beaches, crystal blue Caribbean Sea, an extravagance property… and you. Today that’s real living.

That’s “My Igloo”!

Cayman Commercial Property - 9 Sea Breeze Seven Mile Beach

US$4,995,000

Property ID: 100360
MLS # : 102020

 

Property Type: Commercial

Listing Type:

Views: Beach Front

Baths: 4

Partial Baths: 1

Sqft (feets): 7389.00

Built: 2010

Days on Myigloo: 8

Total views: 3

 

Property Description:

Situated on white sand beach, w/world class snorkeling seconds away. Exclusive development w/just 9 units. Expansive views of the Caribbean Sea. Large patio w/access from living & master bedrooms. O/F pool, deck, spa and gazebo. Granite, travertine, Stainless appliances, solid wood cabinetry, Hurricane rated windows, high tray ceilings & much more

Features include

Strata (monthly): US$3.00

Class: Under - construction

Construction: Block

Floors: 5

Home Features : Dishwasher, Disposal, Microwave, Washer/Dryer, Air Conditioning, Cable/Satellite TV

Local Amenities: Close to Beach
 

 

Problem with Cayman real estate

The problem with Cayman real estate is that it was driven by a tax-free wealth preservation and speculative marketing structure. Most non-resident buyers purchased property with the expectation that it would either increase in value or be paid for by rental returns. Since their investment was offshore, any equity growth or value appreciation would remain tax-free until it was repatriated.

Since no one likes to pay taxes the wealth captured here was seldom repatriated; it was either land-banked (sic) or rolled over into more expensive properties.

The strength of this recession changed attitudes a lot. Foreign private owners are not only cashing out because they need the money but also because of tax treaties and new opportunities -- the world is saturated with great deals and great places to live. Even our Caribbean neighbors are getting their act together; just look at the homes in Caribbean lifestyle magazines or at St Kitts and Nevis, where they throw in a new passport for a purchase over $350K.

Our once powerful and unique sales pitch resulted in the continuous expansion of property investment, development and price increases, a self-fulfilling prophecy that encouraged more foreign buyers. The residential population and expatriate worker also dove into real estate investment with a passion. Most local wealth in Cayman is now buried in real estate.

This once powerful investment message is worn out, the bubble has burst and we don’t have a sales pitch to fit the new reality. If you remove speculation from the equation, the only justification for purchasing real estate is income producing, lifestyle improvement and basic housing needs. Hence the hope expressed above that the new economic development projects will soak up the inventory currently on the market. Besides residential real estate, what are we going to do with the huge glut of empty commercial property in Cayman? When government moves into its new building we will have nearly half a million square feet of vacant office space in Cayman. Think about that for a moment.

Unfortunately inventory and market activity are interlinked: if the market expands our inventory will also expand, especially in Cayman where we have so many big investors, experienced developers and freelance contractors sitting on all those land banks, investment funds and planned projects.

As more land banks are liquidated at distressed prices the cost of new development is reduced, which makes it more competitive to develop. This just-in-time, price sensitive, manufacturing capacity will anticipate any market growth and our inventory will expand before demand does. When you consider that there is also an overhang of property waiting for the market to improve, it is unlikely that we will return to the exciting appreciation led market growth of the past.

Our only solution is real economic diversity and expansion. Cayman is no longer unique in this new global marketplace. If we want to move forward we need new industries, new active business investors and more people living and working here. While we attempt to work those socially sensitive issues out, our competitors are aggressively inventing new opportunities.

The best bet for our real estate industry is to switch from selling market appreciation and focus on selling value within the current marketplace. The sooner that happens the quicker the industry can reboot.