Caribbean Land and Villa in the Cayman
Posted by David on 29 th in Cayman Islands property news, DSR, News on 29th of October 2010Consider the following investment option in Caribbean land with a beautiful villa:
- On the Grand Cayman famous for its financial centre (the fifth largest in the world) you have the Dubli Golf & Beach Resort. The resort has a four-hole golf course built in and faces the Rum Point Beach, a comparatively quiet beach on the north of island, close to the North Sound lagoon, a 35 square mile reef-protected shallow lagoon ideal for water sports. The resort also features a beach club and condominium.
- On the Cayman Brac famous for The Bluff, a steep cliff rising dramatically above the sea on the eastern coast and offering world class rock climbing facilities, you can buy plots in the Little Dolphin Estate located among mangrove and other greenery. The bluff is the culmination of a limestone ridge that starts to rise from about the middle of the island and reaches a height of 140 feet on the eastern edge. The structure also offers several caves for exploration.
- On the Little Cayman, famous for some of the best wall diving in the world, you will find two options. You have the Little Cayman Estate that extends from the north coast beach and then the Lakeside Estate that lies adjacent to the Sandy Point Lake on the south east.
All the properties are approved layouts with required planning department permissions and the plots have infrastructure in the forms of asphalt roads and access to electric power. Each plot in these layouts has been dedicated for a specific type of villa – Single Level, Split Level or Duplex Townhouse and the plots come with a full set of architectural drawings and construction documents.
Developers of the properties also provide you the option to pay the purchase price in five yearly installments, interest-free. You can also opt for a developer buyback agreement under which you give the developer an option to buy back the property during a five year period at a price 20 percent above the price you paid. In return for this option, the developer will provide you an assured 20% percent return per annum over five years, including an assurance to pay the full return even if the buyback option is exercised before five years.
Laws in the Cayman Islands allow foreigners to hold property with freehold title on the islands. There is an excellent system of land records with all pieces of land being registered electronically with a unique block and parcel number. All land transactions, including creation of charges, are registered by the Land Registry section of Land and Survey Department.
Once the land has been registered in your name, you can ask the developers to construct the villa. They will arrange for needed building permits and manage the construction project and you will be handed over a beautifully designed villa that blends into the Caribbean environs.
These Caribbean Islands are Overseas British Territory with a governor appointed by the British Monarch and a Legislative Assembly elected by local citizens. Crime rate is low in the Grand Cayman and non-existent on the smaller islands. Your Caribbean land and villa will thus provide you a safe haven for retirement when you are ready.
