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Jamaica / Real Estate

By James Henderson, Judith Baker

Jamaica is an exceptionally beautiful island and it has captivated generations and generations of travellers, many of whom have decided to build homes there. In the late 1600s Henry Morgan, ever one for a good lookout (he was the most successful buccaneer and pirate of them all) owned a property with the finest view in the whole of the Caribbean, looking east from Oracabessa over successive headlands on the northern shore. Later the British entertainer Noel Coward built his house Firefly on exactly the same spot.

The most recent romantic call came early to Jamaica, as tourists began to arrive in the island over a century ago, before anywhere else in the islands. For the first fifty years of the twentieth century the most prestigious place to go to was Port Antonio. It was populated by Hollywood stars such as Errol Flynn, Bette Davis, and politicians such as Winston Churchill. In the forties and fifties they put down roots, creating their tropical dreams in the coves and mountainsides of what is probably the prettiest part of Jamaica. The result is that even now it has some truly spectacular homes available for rental or purchase.

Steadily interest spread west. Ian Fleming, author of the James Bond novels, built a home on the shorefront in Oracabessa, and Noel Coward settled on the hill above him. Elsewhere villa communities began to appear too. Round Hill, the most elegant villa resort on the island, opened in the fifties. Many of its villas still retain the beautiful colonial elegance that has been the hallmark of the resort since those days.

By the end of the twentieth century the two most important towns were Ocho Rios, where there were less formal communities of villas (more like private estates) above the town, and Montego Bay, where there are estates on the shorelines and hillsides on both sides of the town, such as Unity Hall and Great River Estate. ‘Villa resorts’ (villas communities with some central ‘hotel-type’ facilities) in this area include Tryall and Half Moon, which are still seeing building now. And the development is continuing, with newer estates such as the exclusive Palmyra at Rose Hall, which is currently being built around golf courses. You will also find a few condominium complexes with apartments. Some are within the towns themselves, but others are in free-standing developments along the coast.

Flemings old home Goldeneye still attracts the jet set and is now the setting for an exclusive community development where villas are currently on the market for US$1,000,000 to $1,750,000

A 7th floor condo which has access to three nearby world class golf courses in the Palmyra Development at Montego Bay sells for around US$950,000

More affordable homes can be found near Negril’s famous 7 Mile beach, where a small house can be bought for around $115,000

Scattered in between the main resorts you will also find smaller clusters of villas, set on a good beach or in another spectacular setting. There are some very nice, mainly Jamaican homes lining the eastern shore of Discovery Bay and a long-standing development at Silver Sands. Finally, at the western tip of the island in Negril, there is such little available space (particularly on the narrow band between the beach and the lagoon) that there are relatively few houses to buy. However there is some opportunity in the West End (again usually inland), for instance around the Caves.

The south coast of Jamaica is completely different from the north and not as developed. There is a slowly expanding community of mainly Jamaican-owned houses around Treasure Beach and some villas in the area of Bluefields. You might even consider one of the few of the lovely old Jamaican plantation estate houses (there were originally 300 of them, but many are in disrepair), but they are a labour of love and few are anywhere near the beach. Finally, there is a large real estate market around Kingston, but it is not particularly for foreign interest.

Prices range enormously across Jamaica. The island is big, giving a great range, though most developments are concentrated around the recognised resort towns. The island as a whole is not as popular as other Caribbean destinations at the moment, say St Barths or Barbados, or even Cayman, so relatively speaking prices offer good value. Jamaica has recovered from a slump in its economy a few years ago and prices are now stable. Jamaica also has a well-developed villa rental market and so it offers good opportunities to buy as a rental investment.

Buying property: There are few restrictions on foreigners buying land in Jamaica. Once an Agreement for Sale has been drawn up, the buyer will be required to pay a deposit of at least 10%.Property taxes & fees: Buyers are normally required to pay legal fees up to 4%, stamp duty of 2.75% and a registration fee.

See below for recommendations and listings of Jamaica Real Estate agents.

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Looking for inspiration?

  1. Sample some fiery jerk chicken or pork at one of the many stands in Boston - the home of jerk 
  2. Take a tour of Appleton Estate, Jamaica's oldest rum producer
  3. Spend the day exploring Dunn's River Falls & Park
  4. Enjoy a round of golf at one of Montego Bay's five, 18-hole courses
  5. Immerse yourself in local culture and pay a visit to the Bob Marley Museum in Kingston

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