Written by: Dreamfinders.com
Real estate in Cayman Islands can be some of the most sustainable returns that you can get as an investor. Properties tend to increase in value over time, especially as the area expands, and you can also accrue passive income if you’re able to find renters for your property when you’re not visiting the islands. If you want those investments to grow, you’ll need to keep a few concepts in mind.
Cayman is Expanding
One of the biggest announcements to come out of September 2015 was that the airport is expanding its ability to handle greater number of passengers, and its parking lot is also receiving a boost. That’s great news for property owners looking for tax-free income to grow their retirement. Real estate in Cayman Islands is nearly always preferable to staying at a hotel, so there is no shortage of renters if you’re willing to market your property.
Be Ready for Tourism
The number one tip for improving your returns is to spend this time getting your property ready for this incoming surge of tourism. Real estate in the Cayman Islands tends to carry a high bar for quality, so it’s a good idea to renovate your interior and perhaps consider going green. These important changes make for excellent selling points when you’re trying to attract new renters.
The nature of the island means that people might stay for anywhere from a weekend to several weeks or even a month a time. Remaining flexible with your accommodations will help you nab a few long term renters, which are excellent for the guaranteed income your property can accumulate during the time they choose to stay.