At the start of the second week in March 2012 Real Estate enquires have increased by 30%. Other brokers have also noticed about a 20% increase. This is a good sign for Real Estate in Jamaica.
What can we attribute this to?
1) Crime has been under control
2) Interest rates for mortgages continue to trend down to new lows of 9.4%. This is coming from 14% just over 1 year ago.
3) The rebound of the American market
4) Canada having a strong Real Estate market and economy
5) Jamaicans in the UK are realizing that Jamaica is a very positive option for their years after retirement based on the current riots and downward trending economy in some European countries.
6) Land and home prices continue to appreciate
7) The demand is VERY strong for detached 2 & 3 bedroom homes priced between 7 and 12 million Jamaican dollars, and residential lots priced between 2.5 to 4 million Jamaican dollars.
If there is any time to invest in Real Estate the time is now. On the north coast, hotel middle to lower level staff need 1 bedroom units to rent. Prospects are currently put on waiting lists until units become available.
Current high demand areas in Jamaica:
Kingston
Ocho Rios
Montego Bay
Rory Marsh
Realtor
Meldam Realtors
Ocho Rios, Jamaica
rorymarsh@yahoo.com
876-277-2934
