Jamaica is an island paradise especially favoured by the rich and famous. Back in the Fifties and Sixties, celebrities such as Princess Margaret and John F. Kennedy used to spend winters shacked up in colonial style beside the Caribbean Sea.
Since then not much has changed, only the names of celebrities. These days it isn’t rare to find people like Harrison Ford, David Bowie, Richard Branson or even the Queen enjoying a spot of Jamaican sun.
Well known for reggae music, rum and a party happy crowd, these days Jamaica offers second home buyers amazing opportunities never before experienced.
Even though Jamaica is the fourth-largest island in the Caribbean (150 miles long by 50 miles wide), the islands property market is less active than some of the neighbouring islands. With direct flights from the UK, it is surprising to see that there is a shortage of seaside properties for interested buyers.
While Barbados and the Bahamas offer the high-life living, Jamaica does the same but with only 40% of the price tag. Even though the credit crisis is also felt on the island, it isn’t half as bad as other islands in the Caribbean. This leaves second home buyers with plenty of choices to snatch up a piece of treasured real estate.
Goldeneye, Ian Fleming’s old estate has been transformed into a 12 bedroom hotel where the cashed up spend their holidays in style. However, you don’t have to be a prince or a queen to experience this lifestyle. Now you too can holiday in Jamaica in your very own beach apartment, house or shack by buying into the secondary market.
If you want to part with £480,000 to buy a Bond suite with roof top terrace, or £1.9 million to buy a lagoon villa, you can actually own a slice of Bond paradise too.
Half Moon is a top of the range 400-acre country club. Now for the first time ever buyers can buy colonial style cottages on the beach. Being one of the most prestigious addresses on the island, this is a rare chance.
Known as the Colony, the 18 new plantation houses at Half Moon will be an updated version of the original cottages. They will include swimming pools, landscaped gardens and golf buggies for the owners to get around the resort. They will also have their own cook, maid and butler. All of this does come with a nice price tag though.
Houses at the Colony start at $2.3 million (£1.3m) with a five-bedroom “Royal Villa” costing $6.3 million (£4m). On top of that is a yearly service charge of around $70,000 (£45,000), but owners will receive 70 per cent of the rental revenue.
Palmyra is a new property development near Half Moon which will feature luxury apartments and villas affordable to the average home buyer. With already more than 60 percent of the properties sold off-plan, the remaining available units will be part of a rental program when the development opens in January 2009.
With close by golf courses, restaurants, shops and great weather all year round, buying into a development like Palmyra at the bargain price of $200,000 (£128,000) is unbelievable.
Fancy living on Jamaica’s Blue Lagoon? If so, you might want to buy one of the most photographed houses in the Caribbean, Lolivya. A spacious 4-bedroom villa, the house offers everything and more you ever dreamed off when thinking about a Jamaican lifestyle.
The villa is for sale at US$ 1.6 million but can be negotiated.
Highlands is a gated sub division situated 16 km from Montego Bay. Overlooking the Caribbean Sea, this development offers 100 lots in all with less than 5% developed. Close by is Half Moon golf course and land owners will be able to build their dream property with spectacular views while being close to the city.
Land is available for US$350,000.
Right now Jamaica is indeed a promising destination for investors with many more developments currently being built or opened. Because demand currently surpasses supply, this ensures a healthy market at the moment.
Photo credits: caribbeanfreephoto