jamaica property too often overlooked by overseas buyers
News Posted On: 09 July 2009
Jamaica is often overlooked by overseas property buyers and investors, but offers some excellent buys it has been stated.
The fact that Jamaica is one of the most popular countries in terms of tourism, but offers some of the lowest property prices in the Caribbean speaks for itself, according to overseas property portal Property Abroad.com.
"We have these great 1 bedroom apartments in Negril for under £50k. If you compare them on a like-for-like basis with similar apartments in Barbados, or anywhere for that matter you will see them for the true bargain that they are. With rental rates in Jamaica at £444 per week, you can easily take an 8-10% gross yield with very conservative occupancy forecasts," he said.
Jamaica property prices are so low because of the crime-rate in Jamaica, but the tourist areas are kept incredibly safe.
"A property like that is a wonderful holiday hideaway, and will grow in value at a long-term average of 10% per year," Les added.
Jamaica property is currently very popular with Jamaicans who have moved to work abroad in the last few decades, and who are now in a position either to move back, or to purchase a second home in their own country.
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