by jamaicahomes 
You can hardly go wrong when investing in real estate. If you get the right price and score on location, you can sell your property for profit whenever you want. It’s much safer than stocks, for example, and you get the added benefit of owning something that you can actually use. Sounds interesting? Then be sure to stick around — today, we’re going over five reasons to invest in new construction in Jamaica.
However, before we dive into Jamaica itself, we want to take a moment and talk about why new construction is the way to go.
You know that Jamaica is a beautiful country, but let’s see why it’s also a good place for investments.
Alt-tag: A skyline of a Jamaican city.
Why You Should Invest in New Construction
If you did your research on the country already, you probably know that there is more than one type of home in Jamaica. If you want a piece of history, looking for an old house would be your only choice. But there are more than a few benefits that a brand new building would bring to the game.
First, you’d be living in a pristine living environment. All the appliances, finishes, and plumbing would be new. Therefore, you wouldn’t have to worry about maintenance or upgrading. On top of that, you’d feel secure as you’d have a warranty.
Second, you can customize the place however you want. Buying an old house is great since it already comes with character. But that character won’t be yours, and you can’t do much to an old house without it losing that charm that made you buy it. So, you’re stuck with what you have.
On the other hand, new construction is like a blank canvas. If you invest during the building process, you can negotiate and make deals with the builder, so everything is as you want it right away. And even if you buy an already built apartment, you can make plenty of changes to make it feel like your own.
Finally, there’s the location. Not only will you be on one of the most beautiful islands in the Caribbean, but you’ll also get a home in one of the nicest places on the island. You’ll get access to a lot more amenities than you would if you’d go with an old house. And if you want to rent out the place, it’ll be a lot easier to find tenants.
Reasons to Invest in New Construction in Jamaica
1. The Economy is Strong and the Market Is Growing
Lots of you will be glad to hear that the economy in Jamaica is stable. The Jamaican dollar holds its value, and the GDP is going up thanks to tourism and the increase in exports.
Again, thanks to tourism — the real estate and construction markets are growing as well. There are plenty of investment opportunities, and according to experts from all over the world, now is the time to take action.
Of course, this situation makes Jamaica a great place to live. Hence, if you’re looking for a paradise-like place, where the cost of living is still low, but that has a lot to offer and that you can move to right away, you’ve found the perfect candidate. All that is left is to pick international movers who will be the best choice for your relocation and start packing your bags. Jamaica is waiting for you.
A good and steady economy is one of the reasons to invest in new construction in Jamaica.
Alt-tag: A graph on a laptop screen.
2. Low Interest Rates and High Loan Limits
Another thing that makes investors excited when talking about Jamaica is the preferable conditions for mortgages and loans. You might not be interested in it if you want to buy a place here just for vacation. However, if you’re thinking about relocating and making the island your home, this is a big thing.
It means that the economic situation is only going to get better and that the standard is rising. Also, if you feel like investing in multiple properties, you can take advantage of this.
3. It’s Easy to Buy a Home in Jamaica
As it turns out, foreign investors are dominating the real estate market in Jamaica. It only shows how popular this destination is. However, there’s one deeper reason why so many people are putting their money here — It’s easy.
Jamaican law doesn’t differentiate foreign buyers from the local ones. Therefore, you won’t come across any restrictions, and the conditions will be the same for you and the locals. It’s a benefit that not many other Caribbean countries offer.
All of the above led to the forming of a very active expat community here. If you have some money burning a hole in your pocket, you can come, buy a few of those shipping container homes, and rent them out to locals or tourists for profit. It’s a great way to make a nice living, and you don’t have to do much more than manage the rentals.
4. It’s Cheap to Invest Here
You don’t need to have a lot of money to be able to invest in Jamaica. Up until the pandemic, things only looked grimmer and grimmer for the investors. However, in 2020 the prices went way down. Now, you can buy a property here for as low as $150 per square foot.
As things get back to normal, we see that the prices are coming back up pretty quickly. Hence, you have the chance to catch the last train at low prices by the looks of it. Don’t waste it.
Investing in new construction here is both cheap and easy.
Alt-tag: Two men in the office talking about the reasons to invest in new construction in Jamaica.
5. It’s Close to the US
As you would have guessed from what we told you, we think that there are many reasons to move to Jamaica in 2022. That said, it might not be your cup of tea. Maybe you just want to invest, but you’re afraid that the distance between you and your investment can hamper the deal.
Luckily, you don’t have to worry about it. As a matter of fact, driving from Miami to Orlando would take more of your time than flying to this Caribbean island from the US. Most reputable airlines have regular flights on this relation, and the tickets aren’t that expensive either.
And that was the last of reasons to invest in new construction in Jamaica. Still not convinced? Feel free to contact us, and we’ll be glad to remove any second doubts you might have.
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