COLDWELL BANKER JAMAICA REALTY

Acreage for sale, Green Island, Hanover, Jamaica

Located only 10 minutes from Negril, this 18 acre site is ready to be developed with flat land in a quiet upcoming community of Hanover in Green Island. 

Ideally located with access directly off the main road. Asking $1,950,000.

Visit our Coldwell Banker Listing page for more photos.

e360’s latest 2nd Home Trend Report, conducted this past June/July, shows positive signs for the Coldwell Banker Island Affiliates, throughout the Caribbean.  The report surveyed existing second home buyers on preferences for timing, attributes, location, and pricing of an additional second home purchase.

Of those 45% indicating that they are in the market for a second home, Mexico was the top international destination with more than half of the total interest. More impressively, of the remaining 54% who indicated that now would not be a good time to buy, 79% indicated that they would be likely or very likely to purchase in the next 2 years.

As consistent with current market trends, lifestyle and vacation attributes are the leading motivator at 46%.  Investment purposes showed 41%. Second home purchases for the purpose of retirement ranked 3rd at just over 11%.

The desire for a second home geared for vacation purposes is not a surprising finding. E360’s Global Research Analyst, Chad Martin, said “This is a consistent trend with the <i>preferred attributes of the buyer being water views and proximity to water </i>or mountain activities.” Lake and ocean views combined for an overwhelming majority of the preferred attributes surveyed with mountain views coming second.

Martin added that while spa and medical facilities have exhibited recent high growth rate forecasts in recent studies, respondents did not translate that growth into the highest motivation for second home purchases. Green-based second homes also did not show the highest appeal, nor has golf amenities translated into sales.

The appeal of being close to the water with an ocean view should help keep our beautiful Caribbean Islands as an attractive 2nd home location in the next few years.  Contact a Coldwell Banker agent with any questions you have on investing in our real estate.

Jamaica is the top-ranked Caribbean nation to live in terms of education, health, quality of life, economic competitiveness, and political environment, according to Newsweek magazine. 

The magazine compiled metrics across those five categories, which ranked the island 47th, three places above Cuba, among 100 countries surveyed.

Newsweek’s first-ever Best Countries special issue attempted to answer the question, “…if you were born today, which country would provide you the very best opportunity to live a healthy, safe, reasonably prosperous, and upwardly mobile life?”

(resource:  JamaicaObserver.com)

Pros and Cons of Going Condo

Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider:

• Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.

• Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.

• Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.

• Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel.

• Security. Keyed entries and even security personnel are common in many condos. You’re also closer to other people in case of an emergency.

• Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.

• Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar. 

• Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.

• Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors.

Check with our Coldwell Banker Agents with your specific questions on any condo purchase.

As reported in the JamaicaObserver, “MEDSERV Jamaica Limited on Thursday launched its air ambulance service for the island, operating under the brand JamaicaMed, with junior industry minister Michael Stern saying that the new service will allow access to affordable air ambulance service to just about anyone.

“‘Jamaicans can access flexible plans that provide dedicated medical airplane transport to an appropriate health-care facility overseas in the event that the required medical care is not available on the island,’ Stern said.

“The minister added that services would be provided at substantially discounted rates based on the business links of the investment partners MedicaView International and Emergency Medical Services International.”

Tammy Boise, one of the stakeholders of the venture, explained their vision.  “What we plan to do is make Jamaica a hub, and whatever treatment you can’t get in Jamaica then we will fly persons there. We have a wide network of hospitals all over that we fly persons to depending on what that individual treatment should be,” she said.

Stern added, “MedicaView brings to Jamaica a wealth of experience in establishing destination health-care centres that could leverage Jamaica’s central location, its current and improving health-care system and its outstanding hospitality industry to position Jamaica as a health tourist destination.”

(resource:  JamaicaObserver.com)

1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.

2. Wash your windows and screens. This will help get more light into the interior of the home.

3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It’s worth hiring a cleaning service if you can afford it.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.

5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.

6. Don’t disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.

7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.

8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable.

9. Add a touch of color in the living room.  A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.

10. Buy a flowering plant and put it near a window you pass by frequently.

11. Make centerpieces for your tables. Use brightly colored fruit or flowers.

12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.

13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.

14. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.

15. Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room and let your Coldwell Banker agent know where they’ll be.

16. Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it’s impossible to watch everyone all the time.

17. Leave the home. It’s usually best if the sellers are not at home. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there.

Ask any of our Coldwell Banker real estate agents if you have any questions on the best way to show your home to prospective buyers.

The Jamaican government, as part of efforts to boost the tourism sector and grow revenues, has unveiled a new incentive program – the Tourism Industry Refurbishing Programme (TIRP) that is expected to further improve the operations and competitiveness of tourism entities.

With tourism being one of the island’s leading growth sectors, the introduction of the TIRP is expected to encourage more tourism entities to refurbish their properties more often, thereby creating more employment and revenues for the government through customs duties and other consumption taxes. It will also enhance the linkages between the tourism industry and the local manufacturing and furnishing sector.

Under this new initiative tourism entities which are licensed by the Jamaica Tourist Board and are tax compliant will be allowed a concessionary import duty rate of 10 percent on a specified list of items for the refurbishment of their properties.

Importantly, those entities which opt to purchase locally will be given a 15 percent Income Tax Credit on the total value of the local purchases.

However, they will still be required to pay the applicable General Consumption Tax, Bureau of Standards Fee, Environmental Levy and Customs User Fee.

The TIRP will be available to hotels, villas, guest houses and apartments, attractions and water sport operators which have been in operation for at least five years. The offer is only available to tourism entities and therefore does not extend to importers and suppliers. Also, tourism entities which are currently enjoying benefits under existing or similar programmes will not be eligible to benefit from the TIRP.

(resource:  SFLCN.com)