Land purchasing costs in The Cayman Islands

There is no direct form of taxation levied within the Islands, aside from a one off “Stamp Duty” on real estate, at time of purchase.

Stamp Duty is charged at 7.5% on Grand Cayman and 6% on Little Cayman and Cayman Brac.

Project Services

We are pleased to introduce our affiliated firm Decade 201 who will take care of all building aspects, design planning etc.

Based upon your requirements and objectives, the following scope of services are available:

• Design of bespoke individual villas and facilities.

• Design development leading to planning application.

• Preparation of renderings and plans suitable for marketing purposes.

• Construction documentation including all structural, mechanical, electrical and plumbing design.

• Building permit application.

• Preparation of bills of quantities / schedule of rates for the proposed works.

• Tender procedure.

• General contract documentation.

• Contract administration / project management.

The budget for architectural, engineering and project management services should be based on 10% of the construction costs.

Projected land development costs example

LAND COSTS

Land Purchase Price: US$ 54,999.00
Purchasing Costs (6%) 3,299.94
Price ($ft2) 5.50

Land Area (ft2) 10,000,00
Built Area (%) 20.00% (permissible build up to 25% over 2 levels)
Build Area (ft2) 2,000.00

PLANNING, DESIGN & APPROVAL

Architects & Project Management Fee 40,000.00

Planning Authority
Planning Permission 1,500.00
Building Permit 3,000.00

CONTRUCTION

Construction Costs
Unit Build Price ($/ft2) 200.00
Unit Construction 400,000.00
Total Development costs (US$) 444,500.00

Please Note:

All costs are in US$
Construction prices are based on a medium to high level of finish quality