Cayman Islands Visa: Cost of renting and buying a house

This second part on the cost of living and working in Grand Cayman on a working visa will deal with accommodation and renting a home in the Cayman Islands.

I was fortunate enough to move in with a family friend. The couple had purchased a three-bedroom, three storey semi-detached house for around CI$250,000 (US$300,000) in 2006. The place had two and a half bathrooms, was furnished throughout, and shared a pool with other residents (paid for through a strata system).

Air-conditioning is standard in Cayman homes. However electricity as a commodity is incredibly expensive. The average electricity bill during the summer months (when the AC is on high) was CI$400 (US$500) for a three-bedroom house with electric cooker, so factor this into your bills.

Water is also expensive, although not by as much, as Grand Cayman has no freshwater supplies. The water is desalinated and then either pumped or transported around the island. Expect to pay up to CI$100 a month again for water.

Gas will be a similar price, but we always just factored in that you don’t have to pay any direct income tax or national insurance. You can survive with the AC off during the winter months, but in the summer it’s a luxurious option.

The property market in Cayman isn’t particularly buoyant right now, and there are rumblings amongst the public sector workers - who make up half off the workers on the island - that government cost-cutting exercises will further decrease the working population, and thus the number of tenants.

In a depressed property market, it may be a good time to buy or rent a place in Grand Cayman.

Average rental prices in a shared accommodation along Seven Mile Beach, where the restaurants and bars are mostly located, are around CI$900 to CI$1300 a month and upward.

If you’re working in the service industry, or you’ve just arrived on the island, the Treasure Island resort offers weekly and monthly rental options on its rooms. This might be a good option if you’ve just arrived.

Away from George Town and Seven Mile Beach you might find the rent a little cheaper. My friends moved into a small top-floor two bedroom apartment near to the airport for CI$1800 a month. This is about standard for a pool and a parking space.

Over on the North Side houses frequently sell for a few million dollars. These are favoured by retirees from abroad, and don't reflect the reality of the area. It's quiet and beautiful, but there's a lot of undeveloped land left unused.

West Bay offers potentially the cheapest rent. Homes are made up of typically one or two storey cool brick buildings. The roads are a little more dishevelled as it's a rustic setting, but it's close to the town and beach. This area is favoured by true Caymanians and the expatriate service community.

Although it's generally a safe island, Grand Cayman has more than its fair share of murders, drugs and drink drivers, and a lot of it unfortuantely occurs on West Bay. Although infrequent, you'll be surprised at the brutality of attacks, and the difficulty in placing a conviction.

Check out this story on a murder in a busy tourist night club in the national newspaper for a taste of crime on the island.

Finally, expect most places to be furnished, which tends to suit an expatriate working community. An unfurnished apartment means you'll have to import furniture from Miami, and there will be customs duty to pay on that.


Be prepared to look around for your dream home. It's not difficult to find a beautiful place to live and sleep on the island. One of the benefits of frequent hurricanes means homes are very well-kept and tend to be newer builds, so you can expect a high standard in whatever price range you settle on.




The next instalment in this series on moving to live and work in the Cayman Islands will provide information on driving as a foreign national, buying a car and driving legally.