“The massive expansion of hotel rooms from 2003 to date by Iberostar in Rosehall, Riu Hotels & Resorts in Negril, Ocho Rios and Hanover as well as the projected developments at Harmony Cove in Trelawny and Palmyra Resort & Spa at Rosehall have peaked the interest of Real Estate Developers.

Jamaica offers one of the last hidden gems in the Caribbean for shrewd real estate investors, who can purchase a Jamaican island home with ocean view on what has been nicknamed the “Gold Coast” for prices starting as low US$400,000. Foreign ownership of land in Jamaica is unrestricted and financing is now available through First Caribbean International Bank, making the real estate offering even more tempting. The Real Estate Industry has entered a new era in the Islands history.

2005 brought even more good news to Montego Bay’s Gold Coast with the acquisition of the Wyndham Rose Hall Resort & Country Club by the Blackstone Group. The real estate group is famous for transforming some of London’s most loved yet neglected hotels-including Claridge’s, The Savoy, The Berkeley and The Connaught- into vibrant, thriving properties.

“People are realizing that Jamaica is one of the last hidden gems of great beachfront property, representing a unique ground floor investment opportunity” says Andrew Issa Director of Sales at Coldwell Bankers in Montego Bay.

In addition, Jamaica is one of the most accessible islands in the Caribbean. U.S citizens who purchase real estate in Jamaica find that having a luxury vacation home in the Caribbean is not only affordable and exotic but convenient too. Most major U.S Cities are only a 1-3 hours direct flight away and serviced by a variety of airlines with year round routine schedules to the island.

“Now is the time to buy” continues Issa, “ The trendsetters who are able see the opportunity and act on it at the beginning stages of this real estate revival will be able to capitalize on it through their well-timed investment, dollar for dollar. With all the new developments taking place throughout Jamaica’s north coast, properties will continue to increase in value and we are only seeing the beginning. The Jamaican real estate market is primed for growth”