Jamaica is a beautiful country. Just the mention of the country is enough to make you imagine gorgeous beaches and delicious rum. There is just something about Jamaica which makes it the perfect place to spend time. This is why it has become a hot spot for real estate investment. If you are considering a place to buy a second home, Jamaica should be at the top of your mind due to the following reasons.
- Growing Economy
Jamaica is one of the best performing economies in the region. It is the perfect place to invest and own a home. Almost every industry in Jamaica has experienced growth. This has resulted in an inflow of investment. Thus, Jamaica is a growing and stable economy.
- High Demand
Another reason why you should buy a second home in Jamaica is because Jamaica Real Estate experts are in high demand. Everybody seems to want a piece of land in this glorious country. Foreign investors are investing heavily in the Jamaican real estate sector. This clearly shows their confidence in the country.
- Lucrative Income Potential
If you are still not convinced, you should know that real estate in Jamaica offers lucrative income and investment opportunities. The housing rent has risen significantly since 2016 which reveals that Jamaica is the ideal place to buy a second home. As housing rents and prices continue to rise, you can cash in on this opportunity through investment.
- Opportunity to Yield Up to 60 Percent Revenue
Most people want to buy a second home that allows them to generate some revenue. When you buy a second home in Jamaica, you get to yield up to 60 percent in revenue over a period of five years. This should be reason enough to invest in Jamaican real estate.
- The Best Time to Invest Is Now
If there is one thing that homebuyers like to hear, it is that the best time to invest is now. This could be said for Jamaica as real estate prices have appreciated rapidly. Thus, the selling price today is the lowest it would ever be.
- Reduction in Mortgage Interest Rates
The Jamaican government is keen on increasing real estate investment. It has reduced the mortgage interest rates and increased the loan limit. This is good news for those of you looking to own a piece of land in Jamaica.
- More Affordable than Other Caribbean Nations
Not many people know that Jamaican real estate is a lot more affordable than other Caribbean nations. If you want to live in the Caribbean, Jamaica is the place to invest your money.
- Amazing Weather
The main reason why people want a second home in Jamaica is because of the amazing weather. The sunny weather is perfect for those looking for a year-round summer vacation.
- Friendly Locals
Living in Jamaica is like living in a party. The friendly locals will keep you busy. You will never feel alone.
If you are considering getting another citizenship, Jamaica might be the perfect option for you. Once you qualify, you can apply for naturalization.