The number one reason for the increased demand is the introduction of successful shared space platforms such as AirBNB. There are several platforms which exist however the most talked about is the Air BnB.
The demand for the apartments are driven by more people flooding into Kingston for jobs, events and services. Because of the shortage and premium prices of hotel accommodations people choose to stay at these shared locations which tend to provide more space at lower more attractive rates.
The developers which have the best chances of maximizing profits are the ones which work directly with the professional agents of the Realtors Association of Jamaica. Most importantly agents which specialize in selling new construction and have had recent success with selling and renting several apartments.
Jamaica is a very blessed country. Jamaica is regarded in the tourism circles as a selfie friendly destination with amazing pictures to be taken every one hundred metes. Because of this it makes the entire country attractive for investors because people can stay anywhere and enjoy the stunning images and enjoy the local culture.
Because of this sustained demand for apartments then prices continue to trend upwards for both sale and rental. The only way to get properties at affordable rates is to work with your local realtors to invest or secure your ideal property before it is even built.
Affordable apartments for rent do exist but you must be vigilant as these go quickly. The portion of the market that does not want to do shared space short term rental will opt for longer term lower priced rates. This is where tenants most focus if they want an affordable apartment for rent.
You can visit the Keller Williams Jamaica website to find an agent who can keep you updated on the latest apartment for sale and rent in Kingston Jamaica.
When someone says cheap houses for sale what they actually mean is “affordable housing”
Jamaica has to follow very strict building codes and as such developers are bound by law to build very strong homes which can withstand hurricanes and earthquakes. Also, because of flooding homes must be built on suitable land which tends to be more prime real estate.
The factors involved in building tend to cause home prices to escalate. The government has been making efforts to provide affordable housing however the demand is extremely high and far outpaces the supply.
In Jamaica cheap houses tend to be regarded as homes priced under ten million Jamaican Dollars for two bedrooms. Based on current construction costs to achieve this price range developers have to build the units very small or on very small parcels of land to ensure that they maximize their investments.
Jamaican real estate values tend to trend upwards despite the world market. A main driver of this is our huge diaspora members which continue to return home after their retirement. This ensures a steady demand for the limited supply.
My advice to anyone searching for cheap homes in Jamaica is to find a reputable realtor from the Realtors Association of Jamaica or your local Keller Williams Jamaica agent. They can enter you into the automated system so that you can be notified of new listings availability.
It depends on what you are looking for.
If you are looking to buy or sell a property it is best if you consult with the Realtors Association of Jamaica to guide you to approved websites which follow a high standard and are bound by the code of ethics outlined by the National Association of Realtors.
If you are looking for an agent it may be best to start at a broker which has several agent profiles to choose from. One such example is the Keller Williams Jamaica website which has close to one hundred agent profiles.
If you are looking for real estate valuation you should contact the National Land Agency for a comprehensive list of certified valuers which are approved by the various banks and government entities.
If you are looking to invest or build developments. The best website to visit is the Real Estate Board of Jamaica. They have a comprehensive breakdown of steps to be taken to facilitate real eatate development.
If you are looking for a website to guide you with your real estate mortgages there are a few websites which are very up to date and provide mortgage calculators for your convenience such as Jamaica National Bank and Bank of Nova Scotia.
When in Jamaica google can guide you however you should also ensure that you look to the general legal council and ensure that you have a attorney at law that is up to date with conveyance law and the council can guide you. There are older more established firms such as Abendana & Abendana which have several offices with several attorneys to ensure that transactions go smoothly.
This is a highly sought after community. Most people gravitate to this suburban community because it is centrally located, has a low crime rate and has all the amenities in close proximity. These include schools, hospitals, churches, restaurants, shopping centers and professional business offices for added convenience.
The three communities located on the Richmond Estate master title are Richmond Estate, Plantation Village and Hartland Estate. This area on the highly desirable north coast corridor is booming. Main attractions include walking distance to the beach, 60 minutes to the Caribbean’s leading airport, 20 minutes from the tourist resort town of Ocho Rios which is home to Dunn’s River Falls and Mystic Mountain. These communities are also located across the road from the Caribbean’s leading adventure tour company CHUKKA. Low crime and excellent road networks ensure that these communities remain in high demand.
The list would not be complete without highlighting the Lagoons community in Montego Bay. This community is home to luxurious condominium buildings and luxury villas with private beaches. The community enjoys peace and quiet as there is no through road and only residents and private beach and yacht club members tend to traverse the roads. The community is located within 5 minutes from all amenities located in the Fairview business and entertainment community. Excellent roads, low crime, private beaches and excellent amenities all make for a highly sought after place to live.