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With its rolling landscapes, affordable housing and good schools, George Town, attracts home buyers from all over the state, and from all over the country as well.
Get more information on property for sale in Cayman Island.
Views on the George Town real estate:
Real estate in George Town, runs the gamut from restored historic homes to new custom homes. George Town, offers a diverse geography and a unique mix of cultures.
There are no legal restrictions on property ownership by foreigners in cases where the property for sale is for personal use, although real estate ownership for business purposes is subject to licensing. Title to all George Town real estate can be held by individuals (either alone or with others jointly or as proprietors in common) or in the name of a company. However, in the latter case, appropriate company type must be registered with the Registrar of Companies and must be in good standing.
Residential homes ranging from small, medium, and large may come furnished or unfurnished. Most homes and rental units are furnished. Prices vary depending on the location of the property for sale. A large residential home for example may be anywhere between US$373,000 - US$1.5 Million. A beachfront property for sale between .35 to .5 acres can range from US$275,000 - US$645,000. The average rental for a 1 bedroom, 1 bathroom is US$952.00 - US$1500.00.
Many factors contribute to George Town's growth, ranging from the affordability of the housing to the beauty of the land. One real estate search engine in particular has labeled George Town, a "hot city", which means it has "a lot of activity and consumer interest compared to other cities in Cayman Islands." Because of these factors, George Town, real estate will remain a solid investment well into the future.
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