Topic: home ownership

First-time Caymanian buyers of property valued up to $550,000 will no longer have to pay stamp duty, with the new threshold applying regardless of location.

Premier Wayne Panton on Friday announced a plan to raise property values for full stamp duty exemptions for Caymanian first-time home buyers.

Almost half of Cayman Islands residents currently own their own home, a dynamic which poses challenges for policymakers seeking to address access to affordable housing.