The Jamaica real estate market is currently experiencing a period of significant growth.
Several new villa and condominium developments are in construction, many of which have already sold out despite not having even been completed.
What is driving the growth? It would be impossible to point to one single factor. The market is growing due to several factors that have stimulated interest in Jamaica’s property market.
Firstly, during the first quarter of 2019, business confidence rose to its highest ever level and investment levels have surged, including in construction of new real estate developments in and around Montego Bay, Negril and Kingston. As a result, there are plenty of exciting new developments for buyers to consider investing in.
Secondly, the tourism sector achieved a record-breaking year in 2018 which has continued in 2019, which has stimulated interest among both overseas investors and overseas Jamaicans in investing in rental accommodation in the island’s tourism hot spots.
Thirdly, from a financial perspective, there has never been a better time to invest in property in Jamaica. Not only are mortgage rates at historically low levels, but on 1st April 2018, the Government of Jamaica introduced cuts to transfer tax and stamp duties which have further incentivized buyers and sellers.
For first time investors condos and apartments offer the opportunity to dip a toe into the market. So, if you are thinking of investing in real estate in Jamaica, here are 7 of the best apartments for sale in Jamaica.
Negril – From US $135,000
Negril’s Seven Mile Beach is one of the most beautiful beaches in Jamaica. These apartments are located in a new construction boutique gated community in walking distance of the beach which, as the name would suggest, stretches for seven glorious miles. The location offers beautiful views along its white sands and out to the turquoise Caribbean Sea, as well as of the community’s grounds and gardens which include a private pool, club house and a fitness center.
Read more: Apartments for sale in Negril
Ironshore, Montego Bay – From US $140,000
Situated in the upscale neighborhood of Ironshore in Montego Bay, these condos are located just 2 minutes from 2 shopping plazas, banks, golf courses and other amenities and under 10 minutes from Montego Bay’s Sangster International Airport. With a total of 24 units, buyers can choose from a selection of 1 and 2 bedroom condos with modern open plan layouts, all of which enjoy use of amenities including a rooftop recreational area with gym and gazebo.
Read more: Condos for sale in Ironshore, Montego Bay
Kingston 8 – From US $145,000
One of the premier developments in the Parish of St Andrew’s, this condominium development in Kingston 8 offers a total of 48 exquisitely designed super studio units. Bright and airy, the contemporary open concept layout of the interiors features a comfy sleeping area, living area, dining area and kitchen – all just a stroll from the development’s pool area with its two 2 gazebos and lush landscaping.
Read more: Apartments for sale in Kingston 8
Kingston 5 – US $180,360
Ideally located in Kingston 5 within easy reach of all kinds of amenities, restaurants, shops, hospitals and educational institutions, this 3 acre development is one of the most exciting new developments in New Kingston. Its superb collection of amenities would be hard to beat in Kingston. The residents of the 176 condos will have access to a large entertainment area within the community including a swimming pool, club house with fitness center, tennis court, all-purpose court, kids play area and generous parking. Just perfect for first time buyers or investors looking to tap into Kingston’s lucrative rental market.
Read more: Condos for sale in Kingston 5
Spring Gardens, Montego Bay – US $235,000
These apartments are located within a new construction upscale gated community in Spring Gardens west of Montego Bay. The community is just 10 minutes from the beaches of Jamaica’s northern coast. Entertainment, dining and shopping are all minutes away, while residents will enjoy use of resort-style amenities on site, including a tennis court, gym, swimming pool and kids’ play area.
Read more: Apartments for sale in Spring Gardens
Reading, Montego Bay – US $350,000
Looking for apartments for sale in Montego Bay with stunning sea views? Located just a couple of minutes from the heart of Montego Bay, these condos offer beautiful views of the Caribbean Sea. The development comprises 21 units in total with a selection of 2 and 3 bedroom apartments available to choose from. The apartments overlook a 2,500 square foot pool deck with lap pool, splash pool and gym.
Read more: Apartments for sale in Reading, Montego Bay
Freeport, Montego Bay – US $875,000
These 3 bedroom apartments are the final remaining units in a successful apartment development located in the enclave of Freeport, Montego Bay. The development is situated within walking distance of restaurants and entertainment including the Hard Rock Café, the Montego Bay Yacht Club and the Houseboat Restaurant and just a stone’s throw from the international airport. Set along the waterfront, residents enjoy access to a beach as well as hotel-style amenities, including a pool, state of the art fitness center, spa, tennis courts, beach park and children’s playground. All 1 bedroom and 2 bedroom units have sold out and only two 3 bedroom units remain on the marker, so don’t delay or you may miss out on the opportunity to be part of this investment opportunity.
Read more: Apartments for sale in Freeport, Montego Bay
Finding Your Perfect Property in Jamaica
So, whether you’re looking for something small or large, a vacation condo or a full time home, an affordable studio condo or a no expense spared luxury apartment residence, there are plenty of options to consider from across the island of One Love.
For details on all these Jamaica apartments for sale plus many others, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
To discover more, explore condos for sale in Jamaica on our website and find your perfect property in Jamaica with 7th Heaven Properties.