As countries worldwide face declining real estate sales, a growing number are easing restrictions that prevent foreign ownership of property.

For instance, Beijing suspended a one-year residency requirement for foreign nationals who want to buy a home.

In March, the Cayman Islands lowered transfer taxes from 7.5 percent to 5 percent on waterfront properties, and the Cayman Islands Real Estate Brokers Association announced that it would rebate 20 percent of commissions on sales to foreigners.

Michigan-based developer David Johnson, who is building Oil Nut Bay in Virgin Gorda, is benefiting from a new 90-day automatic approval for a landholder license. Johnson says his willingness to hire Virgin Gorda residents in senior management positions was one of the things that persuaded the island’s government to make the change.