by Rory Marsh, Meldam Realtors
(Ocho Rios, Jamaica)
1) Jamaica has a stable economy, and what I mean by this is that there is no social unrest.
There is low poverty in relation to several other destinations.
The Jamaica dollar is stable, and the GDP continues to improve as tourist arrivals, remittances, and exportation of bauxite are increasing steadily.
2) Jamaica's crime rate is under control. There was a flare up after the last general election, but things are back to normal, with March this year being much lower than March last year.
3) Proximity to the United states ... it takes less time flying to Jamaica than driving from Orlando to to Miami.
4) Lower cost of air travel ... most major carriers fly into Jamaica, and as such the air lift is frequent, and round trip tickets average US$300 (including tax) fom Ft Lauderdale.
5) New developments ... there are several new developments on the north coast.
These developments are all gated communities, which make them extremely safe, and they are located within 5 minutes from the North Coast Highway, within 10 minutes from a major hospital, less than 2 minutes from the nearest beach, and generally have the most modern features including club houses, pools, beautiful landscaping, and are commercial complexes.
These developments are all less than 1 hour from the International Airports and less than 20 minutes from all major attractions.
6) Cost of living in Jamaica is much lower than most islands in the Caribbean, e.g. Turks and Caicos and Bahamas.
7) The demand for real estate is very strong.
Currently the majority of existing purchasers are from Canada and Europe.
But Jamaicans from other countries around the world are looking at the figures and are realizing that the return on investment is far better than in most other Caribbean islands.
8) Properties continue to realise steady and rapid appreciation in Jamaica.
The demand continues to be ahead of supply, because more and more Jamaicans abroad want to purchase real estate, as each year they reach their retirement age, and decide to head back "home".
9) The best time to purchase is now right before the 2012 Olympics.
Jamaican atheltes will put "Brand Jamaica" out there for the world to see, and the interest in Jamaica will increase dramatically, and by extension the demand for real estate.
10) One of the key indicators that the real estate market is poised to take off in Jamaica is the existing proposal for over two thousand new homes in the parish of Trelawny and St. Ann.
For more information please click here to contact Rory.
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