Canadian Real Estate Wealth: Investment-motivated buyers acquiring Cayman Islands real estate

Mortgages on Canadian investment properties are becoming difficult to carry using rental income alone, prompting some real estate investors to look at international property markets. One jurisdiction that has been attracting attention from Canadian buyers is the Cayman Islands.

Located 475 miles southwest of Miami, this British Overseas Territory recorded a record-breaking year for real estate sales in 2020, with the brisk pace continuing in 2021. International buyer-driven property transactions have contributed to the strongly performing market.

Sue Nickason, vice president of real estate marketing and sales at Provenance Properties – the official Christie’s International Real Estate affiliate in the Islands – says that one reason why international buyers invest in Cayman Islands real estate is because there is no restriction on foreign ownership of property. Moreover, there is the benefit of the Torrens system of land registration; the Cayman Islands Government will pay compensation to any person who suffers a loss due to an error in the Land Register, which cannot be rectified. On this basis, obtaining title insurance is generally considered unnecessary.

Read more on Canadian Real Estate Wealth.