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.