You would expect that Jamaica real estate prices would be quite high, considering the posh hotels and resorts, the elegant restaurants, and quite frankly, just the brand name 'Jamaica', but actually it is not so!
"...Awesome site! You are very thorough with information."- Mari (USA)
Leading Realtor, Andrew Issa, was quoted as saying that currently purchasers get more 'bang for the buck' on real estates as opposed to other Caribbean islands. Meaning that you get a lot more real estate for the money in Jamaica.
There should be no surprise therefore, of the increasing number of foreigners who are showing heated interest in Jamaican properties.
I recall a recent article in one of our notable newspapers, the Jamaica Observer reporting that over 55% of all real estate transactions in Jamaica are completed with overseas clients!
According to Deborah Cumming, the managing director of Century 21/Heave-Ho Properties, the real estate market in Jamaica remained buoyant market last year when total transactions were estimated to be at 50 billion dollars, and that was a conservative figure!
Admittedly, we had some concerns of bureaucracy in the past, but with concerted pressure on the government from real estate developers, tremendous work has been done and the process has gotten a lot smoother.
Very soon, it is expected that Jamaica will solidify its position as having the best real estate properties in the Caribbean. Mr. Issa identified the huge investments that are being made in the country's infrastructure as the driving force.
He stated that "the infrastructure upgrade that is taking place will drive our market. The airport upgrades, the highways and the new water system for the North Coast all are coming together to improve the country", "plus, we are blessed with the most beautiful island in the Caribbean. We have an authentic history, culture, and people."
In terms of the high-end resort market, the Palmyra Resort development in Rose Hall, Montego Bay and the Chris Blackwell's development, Goldeneye in Oracabessa, St. Mary stands out.
Since the Palmyra is a fairly new timeshare development, prices are still fairly expensive. If you are looking for an affordable timeshare ownership opportunity, you would do well in buying a Jamaica timeshare on the resale market
Jamaica is still the jewel of the Caribbean, and will remain so as we propel our country forward.
Have Questions Or Comments On Real Estate In Jamaica? Click Here To Share With Us!
Posted: 8/1/08Posted: 8/1/08
For more on real estate in Jamaica, visit the Jamaica Real Estate Association website.
Share it with us! We have two of the industry's top players ready and waiting to answer.
Click below to see what others have asked, questions answered or feedback already shared from other visitors like yourself.
Cheap Agricultural Land In Westmoreland?
Do you, or anyone you know, have land in Westmoreland which you (they) are not using or trying to get rid of and willing to sell very cheaply? I am …
Place To Rent In Jamaica For Business
I came back to live in Jamaica over a year now, I would like to rent a place for my business as I am unable to buy a place right now. If there 's anyone …
How to get copies of wills and titles of property in Jamaica Not rated yet
QUESTION about: getting copies of wills and titles of property in Jamaica. Can you point me in the right direction? . i need some help regarding property …
Requirements for acquiring property in Jamaica by a foreign national Not rated yet
Hi, I know Jamaica well & wanted to buy a property near Mobay to retire. I think you have regulations for me to live there? For instance a friend …
What's New? Click Here And See