June 19, 2008

Top 5 Jamaican Real Estate

Jamaica Property Tax

Real estate in Jamaica has managed to attract large private sector investments, which has supported the rapid expansion and transformation of its infrastructure. Over the last couple of years, there has been an influx of overseas investors developing luxurious properties on the north coast.

Properties that are in the immediate area or even neighbouring communities have started to feel the ripple effect and prices have been increasing exorbitantly. However although the prices have been increasing, Jamaica real estate offers more value than the rest of the Caribbean.

Five top communities to buy real estate in Jamaica now are the Kingston six, seven and eight areas. On the north coast you have areas such as Montego Bay, Negril and Ocho Rios.

These areas have communities that one could consider elite neighborhoods and based on what has been reflecting in the current market trends, these properties are well sort after and are normally more expensive. Names such as Jacks Hill, Cherry Gardens, Spring Farm and West End just to name a few.

However in the resort towns such as Montego Bay, Ocho Rios and Negril, you will find that not only the residential areas account for this price point. There are commercial properties such as luxury resorts and prime beachfront lots that have been seeing a lot of transformation; therefore you have this trend in prices.


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