Now's the time to build in Cayman Brac

Now’s the time to build in Cayman Brac

Cayman Brac may be a smaller and slower-paced island than Grand Cayman, but it’s world-class scuba diving opportunities, beautiful terrain and peaceful way of life still attracts a significant and growing number of tourists each year. This island of 14 square miles is also attracting great interest from those interested in land investments in the Cayman Islands, and indeed now is the time to invest and build in Cayman Brac, as Crown World (http://www.crownworld.com/) explains.

Building in Cayman Brac has always been attractive from a cost perspective thanks to its natural rock quarry, the largest found in the Cayman Islands. The quarry, along with Cayman Brac’s own concrete block factory and the presence of reputable and affordable building suppliers on the island, means that the costs of building here are kept inherently low. However, buy land in Cayman Brac and build any time between now and the end of 2012 and any building supplies being shipped into Cayman Brac for development use is completely duty free.

This is an example of just one of the ways the Cayman government is actively encouraging investment and development in Cayman Brac and as part of a plan, as Premier Bush stated, to “further encourage economic activity” in the Islands overall. The concessions from the government will see the import of building materials to Grand Cayman charged at a flat rate of 15% for the period 1 July to 31 December 2012, with the normal rate of duty being 22%. Imports of building materials to Cayman Brac and Little Cayman will be on a 100% duty free basis for the period 1 July to 31 December 2012.

The Cayman government also waives the 2% infrastructure fee normally levied at commercial properties for the build of residential properties on plots of land in Cayman Brac, which further incentivises land investments in Cayman Brac for residential use.

When it comes to land investment, Cayman Brac is still less explored than its larger sister island Grand Cayman, but given the island’s natural attractions and low plot prices, and now with these added building incentives, it seems that may not be the case for much longer. To find out more about the best land investments in Cayman Brac, speak to Crown World on +44 (0)1704 551 333 or visit the website at http://www.crownworld.com/.