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CayMarket

Cayman Islands · complimentary tool

The Real Cost to Buy Property in Cayman

Budget everything it takes to buy a Cayman home: your deposit, stamp duty, legal fees, and bank and mortgage costs — the true cash you need at closing. A common rule of thumb is to allow 10–12% on top of the purchase price.

Who is buying
Property
CI$ 650,000
10%

CI$ 65,000 · banks ask 5%+ here

7.5%

Cayman prime ~7%, usually prime + 0.5-1%

30 yr
per month
CI$ 4,090
Monthly payment
CI$ 4,090
on a CI$ 585,000 mortgage over 30 years
Your depositFinanced
Your deposit
CI$ 65,000
Mortgage amount
CI$ 585,000
Cash needed to close
CI$ 85,525
Down payment
CI$ 65,000
Stamp duty
CI$ 3,750
Mortgage stamp
CI$ 8,775
Legal (~1%)
CI$ 6,500
Bank & registration
CI$ 1,500
✓

First-time Caymanian concession applied — you save CI$ 45,000 in stamp duty. First-time Caymanian: 3.75% on the CI$100,000 above CI$550,000.

No property taxNo capital gainsNo income taxCI$1 = US$1.20

These figures are rough estimates for general guidance only — not a mortgage offer, quote, or financial, lending, tax, or legal advice. Actual rates, monthly payments and costs vary by lender and by your circumstances. Stamp duty follows the Stamp Duty Act (2019 Revision) and Rates of Duty Regulations 2025 (7.5%, 10% above CI$2M, first-time Caymanian concession). Always confirm the binding figures with a licensed mortgage advisor, your attorney and your bank before making any decision. CayMarket accepts no liability for decisions made on the basis of these estimates.

Frequently asked

What are the closing costs when buying property in Cayman?

Expect stamp duty (7.5%, or 10% above CI$2M), legal/attorney fees of roughly 0.5–1%, a CI$400 government valuation, bank and registration fees, and mortgage stamp duty (about 1–1.5% of the loan). Altogether roughly 10–12% on top of the price for a financed purchase.

How much cash do I need to buy a home in Cayman?

Your deposit plus closing costs. On a financed purchase that's typically your 10–20% deposit plus around 9–10% in stamp duty and fees. The calculator totals it all as your 'cash to close'.

Do first-time Caymanian buyers save on these costs?

Yes — the biggest saving is stamp duty, which is 0% up to CI$550,000 for a home (then 3.75% to CI$650,000). That can cut tens of thousands from your cash to close.

Is there an annual property tax in Cayman?

No. There is no annual property tax, no capital gains tax and no income tax in the Cayman Islands.