Stamp Duty Savings for Caymanian Home Buyer – What You Need to Know
March 18, 2025
If you’re a Caymanian looking to buy your first or second home, now is the time to take advantage of government stamp duty concessions that can save you thousands. These incentives make homeownership more accessible, and NCB has several exciting projects that qualify under these guidelines.
Who Qualifies for Stamp Duty Concessions?
First-Time Caymanian Buyers
If you’re purchasing your first property, you may be eligible for reduced or waived stamp duty, depending on whether you’re buying raw land or a developed home.
| Property Type | Full Exemption (0%) | Reduced Rate (3.75%) | No Concession (7.5%) |
| Raw Land | Up to CI $250,000 | CI $250,000 – CI $300,000 | Over CI $350,000 |
| Developed Property | Up to CI $550,000 | CI $550,000 – CI $600,000 | Over CI $650,000 |
Second-Time Caymanian Buyers
If you’re purchasing your second property, you’ll receive a reduced 3.75% stamp duty rate on purchases within the following price limits:
Raw Land: Up to CI$300,000
Developed Property: Up to CI$600,000
Eligible NCB Developments
NCB is proud to offer three pre-construction developments where Caymanian buyers can maximise these savings:
1. Sunrise Landing Townhomes – Starting at CI$484,950
- Located in Savannah’s Sunrise Landing community
- 2- and 3-bedroom townhomes with premium amenities: gym, pool, BBQ area, and open green spaces
- Ideal for families, investors, and first-time buyers looking for strong rental income and capital appreciation
2. Bayside – Luxury Living at an Attainable Price – Starting at CI $504,950
- Prime West Bay Road location, across the street from Foster’s, just minutes from Seven Mile Beach
- 1- and 2-bedroom condos with versatile den spaces that could serve as an extra bedroom, an office or playroom
- Community amenities include a large pool, playground, outdoor dining and BBQ area, and cabanas
3. Auburn Bay – Canal-Front Living from CI$299,950
- Waterfront community near Admiral’s Landing
- Canal-front lots are available now with condos and duplexes to be released later this year
- Gated community with resort-style amenities including a fully-equipped gym, pool, walking paths, playground, frisbee golf and pickleball/tennis courts
🔗Build Your Dream Home in Auburn Bay
Start Your Journey to Homeownership Today
With these stamp duty savings and affordable pre-construction opportunities, now is the perfect time to invest in your future. Whether you’re a first-time buyer or upgrading to your second property, our team is here to help you navigate the process.
Contact us today to learn more.
For more information on stamp duty concessions and benefits for first- and second-time home buyers visit the Government website HERE
