Quick Search
|
|
Government and CIREBA have joined forces to offer huge incentives to property purchasers.
As of April 1, for 6 months, everyone who purchases property in the Cayman Islands will pay their Transfer Tax at greatly reduced rates. In addition, for those properties where the vendor has chosen to be in the program, the CIREBA Real Estate Brokers will pass along 20% of their commission in a rebate back to the Purchaser.
Stamp Duty rates on 7 Mile Beach and Commercial properties downtown drop from 7 1/2% to 5%, while rates for everywhere else drop from 6% to 5%. For Caymanians, the rates drop from 4% to 3% (except on 7Mile and George Town where they will be 5% for all).
For example:
- On a US$3,000,000 condo purchase on 7 Mile Beach you save US$105,000.
- On a US$1,000,000 canal home in Governor’s Harbour you save US$35,000.
- On a US$350,000 canal lot you save US$13,610.
- On a CI$50,000 lot purchase you save CI$1,500.
These discounts apply to properties, which are likely already discounted.
With stocks performing badly and interest rates so low, Real Estate in Cayman at discounted prices is a great investment option. Do not lose your hard earned savings. Invest in something that will give you a return year after year, both for your spirit as well as your wallet!
Check to see if the property you are interested in is part of the program.
PS – And don’t forget, no Annual Property Taxes here.
Call Coldwell Banker - 345-623-4411
|
|
| |
Interested in buying property in Cayman?
See CAYMAN REAL ESTATE 101
|
| |
 |
|
Click here for Previous Market Reports
|
| |
|
|
Blog
2009-07-02 00:15:23 by Jim Reed
Moving can be a life-altering experience for a child. If you are moving out of the area and your children will be attending a new school, the difficulties for children may only be magnified. However, there are plenty of things you can do for your children during the moving process that can turn a stressful event into a time of excitement. Here are some suggestions.
1. Share the news early
Once... [ more]
2009-06-29 23:45:04 by
 Cayman Net News reports a new school sailing regatta to be held November, 2010. The Director of the Schools Sailing Programme, Michael Weber, called on schools to select students who will make the teams in a programme that is going to start in September this year.
To set the ball... [ more]
|