St Maarten vs Turks & Caicos vs Cayman: Comparing Caribbean Real Estate Markets for US & Canadian Buyers
Short answer: St Maarten wins on entry price and zero annual property tax, Cayman wins on total tax exposure, and Turks & Caicos wins on USD stability — the right island depends on which of those three you value most.
- St Maarten has no annual property tax and no ownership restrictions for foreigners, with entry prices well below Cayman and mid-range compared to Turks & Caicos.
- Cayman has zero income and capital gains tax, but the highest entry price of the three and, on some developments, local-approval conditions worth checking.
- Turks & Caicos runs on the US dollar and has a higher stamp-duty cost at closing, with a market built almost entirely around resort-style condos.
- All three sit in the hurricane belt — the real differences are in building-code enforcement and insurance cost, not exposure itself.
Table of Contents
The quick comparison
Every one of these islands markets itself to the same buyer: a US or Canadian citizen looking for a second home, a rental property, or a retirement base in the Caribbean. But the tax structure, ownership rules, and entry price differ enough that the "which island" decision usually matters more than the "which unit" decision. Here's the honest version, side by side.
St Maarten (Dutch side) | Turks & Caicos | Cayman Islands | |
|---|---|---|---|
Foreign ownership | Freehold, no restrictions | Freehold, no restrictions | Freehold; some strata boards add conditions |
Annual property tax | None | None on most residential | None |
Transfer cost at closing | ~4–6% | ~6.5–10% stamp duty | ~7.5% stamp duty |
Tax on rental income | Yes, local filing required | None | None |
Currency | Guilder; USD widely used | US dollar (official) | Cayman dollar, pegged to USD |
Typical condo entry price | $250K–$500K | $400K–$900K | $600K+ |
THE GAP THAT ACTUALLY MATTERS
$250K–$500K typical condo entry price in St Maarten, versus $600K+ in Cayman.
Can foreigners buy freely on each island?
On the Dutch side of St Maarten, a foreign buyer can purchase freehold property in their own name with no residency requirement and no government approval process — I lay out exactly how that works, phase by phase, in the step-by-step buying guide. The same is broadly true in Turks & Caicos and Cayman, but Cayman is the one where you need to check the fine print: some newer condo developments carry board-approval clauses, even though residential freehold ownership itself is unrestricted.
How do taxes compare?
This is where St Maarten and Cayman look similar and Turks & Caicos looks different. Neither St Maarten nor Cayman charges an annual property tax — I've written about exactly what Dutch-side owners pay instead in what owners actually pay each year. Cayman matches that with zero income and zero capital gains tax, full stop, which is the biggest reason high-net-worth buyers gravitate there despite the higher entry price.
St Maarten's gap is on rental income: if you buy on the Dutch side and rent the unit out, that income is taxable locally, the same way it would be back home. Turks & Caicos has no income tax either, but makes up for it with a higher stamp-duty rate at closing, so its tax advantage shows up over time rather than on day one.
WEI'S TAKE
St Maarten's gap is on rental income: if you buy on the Dutch side and rent the unit out, that income is taxable locally, the same way it would be back home. Turks & Caicos has no income tax either, but makes up for it with a higher stamp-duty rate at closing, so its tax advantage shows up over time rather than on day one.
How do prices compare?
St Maarten remains the value entry point of the three. A two-bedroom condo in a well-run building in Cupecoy or Simpson Bay typically lands in the $250K–$500K range — I break down current pricing by neighborhood and property type in the 2026 buyer's guide. Turks & Caicos, built almost entirely around Grace Bay's resort-condo market, runs meaningfully higher, and Cayman's Seven Mile Beach corridor prices closer to South Florida than to the rest of the Caribbean.
Hurricane risk and insurance
All three sit inside the same Atlantic hurricane belt, and none is meaningfully safer than the others on exposure alone. What actually differs is building-code enforcement. St Maarten is still visibly shaped by Hurricane Irma in 2017 — I go through what that means for buyers, and which construction details actually matter, in what buyers should know. Cayman's code, tightened after Hurricane Ivan, is generally considered the strictest of the three, which shows up in lower windstorm-insurance premiums relative to property value.
Which island fits which kind of buyer?
St Maarten tends to suit a buyer who wants a lower entry price, no annual property tax, and either rental income or a personal-use property with real day-to-day island life around it — see my honest take on whether the numbers actually work in is it a good investment?. Turks & Caicos suits a buyer prioritizing a single, polished resort destination and USD stability over ownership cost. Cayman suits a buyer for whom the tax picture matters more than the purchase price.
If you're weighing St Maarten against a closer alternative rather than the wider Caribbean, I've also compared it directly to Aruba and to French-side Saint-Martin.
Related guides
Frequently Asked Questions
Which island has the lowest total cost of ownership: St Maarten, Turks & Caicos, or Cayman?
St Maarten, for most buyers, because it combines a lower entry price with no annual property tax. Cayman has no property or income tax either, but its much higher purchase price usually outweighs that advantage unless you're buying at the high end specifically for the tax structure.
Is it harder for a US or Canadian citizen to buy in Cayman than in St Maarten?
Not for standard freehold residential property — ownership itself is unrestricted on all three islands. Cayman is the one where certain condo developments carry board-approval conditions, so check the specific building's bylaws before committing.
Does Turks & Caicos charge property tax?
No annual property tax is currently levied on most residential property, similar to St Maarten and Cayman. The cost instead shows up as a higher stamp duty at the time of purchase.
Which of the three has the strictest hurricane building codes?
Cayman's code, updated after Hurricane Ivan in 2004, is generally considered the strictest of the three. St Maarten and Turks & Caicos both enforce hurricane-standard construction, but code age and enforcement consistency vary more by individual building than by island.
Wei Landgraf
Buyer's-only real estate agent based on the Dutch side of Sint Maarten. Wei represents buyers exclusively — no listings, no dual agency — and writes these guides from direct, on-island experience.
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