Buy Property Overseas

Building your Caribbean villa is something quite feasible in the Cayman Islands. You can then use the villa during your annual vacations or for long-term living after your retirement. And the villa will earn you returns in the form of rentals and value appreciation.

Cayman Islands are British Overseas Territory in the Caribbean and consist of a group of three islands. The main island is Grand Cayman, largest (76 square miles) and most developed, and reputed as the fifth largest financial centre in the world. George Town, capital of the country located on Grand Cayman has hundreds of bank offices, including UBS and Merrill Lynch.

Grand Cayman has two sister islands, Cayman Brac (14 square miles) and Little Cayman (10 square miles) which are unpolluted “desert” islands offering an escape from the crowd. All the three islands have unique tourist attractions, in addition to the great beaches on the sparkling blue waters of the Caribbean Sea.

Grand Cayman has the Seven Mile Beach that is home to luxury hotels, resorts and villas. To the north of the beach is a turtle farm where a rare species of turtle are cultivated both for preservation and for meat. Then there is the North Sound, a shallow lagoon protected from the open sea by reefs and at 35 square miles, nearly half the total area of the land.

Cayman Brac is dominated by a limestone ridge that starts about the middle of the island and rises to a dramatic vertical height of 140 above the sea on the east coast. The structure has many caves to explore and the island also has dense forests.

Little Cayman has the world’s top wall diving facility at Bloody Bay. Wall diving involves scuba diving along a vertical underwater cliff. At Bloody Bay, the cliff goes down vertically to ocean bottom from 18 feet at places to 1000 feet at other places.

Building Villas in the Cayman

Land use is strictly controlled on the Cayman and planning permissions are needed before any development work is undertaken. Building construction needs a building permit and before the completed building is occupied, an occupancy certificate must be obtained.

Developers have however made things easy. You can make approved real estate investments in pre- developed land plots where all permissions have been already been granted, allowing you to build your villa easily with the help of developers. You can buy land at the following layouts, for example, in the Cayman Islands.

• The Dubli Golf & Beach Resort is an elite property on Grand Cayman with a four-hole golf course, beach club and a resort condominium in addition to several plots
• The Little Dolphin Estate on Cayman Brac is located amidst greenery and is close to the northern beaches of the island
• The Little Cayman Estate and The Lakeside Estate are located on the North Coast Beach and Sandy Point Lake (close to the south eastern beaches) respectively on the Little Cayman Island

Completion of infrastructure like asphalt roads and access to electric power is included in the price.  A full set of architectural and construction drawings for one of the three villa designs – Single Level Villa, Split Level Villa or Duplex Townhouse is also included. Once the property is registered in your name, developers will help you obtain needed permits and will also manage the construction project.

You can buy the land with the interest-free five year finance arranged by the developers or buy the real estate with your pension (the investment is SIPP approved). In addition to the finance, developers of the above properties offer assured returns on your investment in return for allowing them to buy back the property at 20 percent above the price you paid during a five year period.

Building your Caribbean villa on the Cayman Islands is thus a feasible proposal.

About Buy Property Overseas

Buy Property Overseas is an overseas property investment specialist, working directly with developers in more than forty countries. All properties are exclusive to BPO, giving an unparalleled selection of resale and new builds.

David Redfern is the director of Buy Property Overseas an overseas property investment specialist. David works closely with developers in more than forty countries and oversees the BPO. education programme which lectures individuals and organisations on property investment.

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