STT OR CAYMAN ISLANDS?

I've had the opportunity to buy on non-US islands but feel safer under the US flag. I've seen investments go "south" elsewhere so that's just my personal preference. However, the Caymans seem to be pretty stable.

You might find a few on the board that know something about the Caymans but for that kind of investment I would get some expert advice from as many sources as you could in the Caymans. If you were asking between stt or stx it would be an easy question for many of us to chime in on, but I know little about the Caymans other then a vacation there many years ago. With condos in the usvi the general rule is you will be gaining equity for the first five to ten years, hopefully rent will cover most of the expenses but it is more likely you will still have expenses to pay rather then you will be making money. After that you should start making a modest profit and hopeful have a good amount of equity, barring any major hurricanes. I do not know about Caymans but STT does have a strong real estate market.

tripadvisor.com then click on caribbean then click on forums them click on caymans

A friend of mine was working in Grand Cayman a few years ago when Hurricane Ivan passed. He said waves passed right across Grand Cayman. At least in STT you can buy up the hill a little. They say the sea is rising you know! 🙂

Cayman was under 6 foot of water all over the island during Ivan. I think the high point on the island is like around 20 feet! People had to climb up into their attics and second floors to avoid the water.
Also check to see if those prices are in US or Caymanian dollars. Our dollar a worth only 80 cents there. Another factor to think about. There is also a dollar amount to invest in a home in order to become a resident, otherwise,you have to apply for a work permit.

RL

The Cayman Islands are just like the Florida keys they are very flat coral cay type of Island. When Ivan Cat 5 Hit 90% of the island suffer water damage. But Cayman Islands Infrastructure like Electricity and Phone was restore very quickly comparing it to St thomas and Marilyn and Georges Hurricanes recovery. Cayman Islands is the fifth largest Financial center in the world and it also has the highest per capita income per person in the caribbean as well as the 8th highest standard of living in the world. Most caymanians make $42,000 average income per year comparing it to 18,000 in the USVI. Also Cayman Islands has one of the lowest crime rates in the world unemployment is only 4.4%. The Island of Grand cayman has about 50,000 in population and the island 22 miles long and in some places 4 miles wide. I have been to the cayman islands the Infrastructure like Phone, Internet service, Electricity is the same or better than the states. For example Cable & Wireless offers Broadband packages for 25 dollars a month. There is allot of supermarkets american/european as well as Costuless and Kirk wholesale. AL thompson is just like Home depot they have everything and by the way great roads. More than half of the population is expats specially Brittish. The Banking and Finance sector is one of the best in the world. Even thou i love St thomas and boating in the USVI is better than Cayman Islands i have to say that the Cayman Islands are so clean is like you are in disney world. Georgetown downtown is full of banks as well as all the turisty Hard rock cafe, Margaritaville, Guy Harvery grill, harley davidson cafe everything is their and i have to say the best restaurants in the caribbean great food!!! The only drawback to the island is that Sundays Everything is closed even supermarkets only restaurants, and fast food are open on Sundays as well as Gas Stations. They do not allow the sale of alcohol on Sundays and Public Holidays, but you can get it inside the hotels wich are exempt. Immigration policy is not that tough you are allow to be in the caymans as an american 180 days consecutively if you go one day back to Miami and come back the clock starts new again. also if you are making a considerable investment like buying a house over a million or so you will easily get a work permit which after seven years will convert to full residency "NO TAXES"" banks in the cayman are like switzerland now living in the Caymans is more costly than USVI the only thing is that there is now more emphasis on developing the real state market specially luxury market so prices are higher in the cayman than usvi. No housing recession

I was told last night they have about 3000 condos for sale right now. Jump on it if only for the investment! Put it in the rental market, although they have probably created a glut so to speak.

RL