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Expert Insight of the Week:

How Jamaica's Real Estate Market compares to other Caribbean Countries

Jamaica's real estate market stands out as a promising investment opportunity within the Caribbean region, offering a unique blend of affordability, growth potential, and economic stability.

As of 2024, Jamaica's real estate market is valued at approximately US$93.95 billion, with projections indicating strong growth in the coming years. This robust market is expected to reach US$128 billion by 2028 and potentially surpass US$205 billion by 2034, showcasing an impressive annual growth rate of around 8.3%.

Compared to other Caribbean islands, Jamaica offers relatively affordable real estate prices, making it an attractive destination for foreign investors. This affordability factor, combined with the country's economic stability and business-friendly policies, has positioned Jamaica as a leader in the Caribbean region for real estate investment.

One significant advantage of investing in Jamaican real estate is the low property tax. Most property owners in Jamaica pay less than $1,000 per annum in property taxes, which is considerably lower than many other countries. This low tax burden enhances the overall value proposition for investors.

The Jamaican market also benefits from a year-round tourist flow, unlike some Caribbean destinations that experience significant seasonal fluctuations. This consistent demand for rental properties contributes to a more stable income potential for real estate investors.

While Jamaica's market is growing, it's important to note that other Caribbean nations are also experiencing positive trends. For instance, the overall Caribbean residential real estate market is projected to grow by 5.08% between 2025 and 2029, reaching a market volume of US$2.28 trillion by 2029.

However, Jamaica faces challenges similar to other Caribbean nations, including limited housing supply and rising property prices. These factors have made renting a more practical option for many locals, creating opportunities for investors in the rental market.

In conclusion, Jamaica's real estate market offers a compelling investment proposition within the Caribbean. Its combination of affordability, growth potential, low property taxes, and year-round tourism makes it an attractive option for both local and international investors seeking value in the Caribbean real estate market.

Learn more in the below video:

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Weekly Poll: Are you looking to buy a new home in Jamaica? Yes - I'm ready to start looking Yes - but not ready yet I already have my house!

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Featured Property of the Week:

Furnished Condo for Sale at Jewel Grande Resort and Spa - Rose Hall

Overview

This beautiful, fully-furnished, condo is located within the gated and secure grounds of the Jewel Grande Resort and Spa in Rose Hall, 15 minutes from MBJ. Once inside, you’ll be taken by stunning views of the ocean and palm trees - from a 28 ft elevation above the sea.

The 2,000 sf space has 2 king bedrooms, 3 full baths, 600 sf wrap terrace, 12 ft high ceilings, and private stairs to the beach/pool. It is the only available residence of its kind. Full Resort access is included: pool, beach, gym, parking, etc. Owners also get special rates at the spa, 7 restaurants, and 3 bars on property.

Rose Hall is located in the heart of Jamaica’s “Gold Coast” near 3 renowned golf courses, shopping, banking and restaurants. This unit is offered with furnishings, Bosch appliances and household items. Rental Income opportunities are available.

Unit Details and Pricing

• 2 bedrooms / 3 bathrooms
• 2,000 sq. ft.
• Listed for $1,175,000 USD

Photos

Please reply to this email for more details or to setup a viewing.

***Courtesy of REAL ESTATE BY KAREN OTTAR & ASSOCIATES***

Please reply to this email with any questions or if you are interested in purchasing a home in Jamaica.

See you next week!

Stay Blessed, Jess Martin @ SideHustleMama​ Email: jess@sidehustlemama.co​ WhatsApp: +1 (631) 449-6481 Global Investor Agent | Real Estate Consultant Powered by eXp Realty - Atlanta, GA