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n the last decade, property prices have continued to move upwards along with the island’s improved infrastructure and the introduction of new luxury real estate products. Still, Jamaica is considered one of the Caribbean’s last hidden gems. With local real estate selling at prices of up to 30% less than other islands in the region, people are returning to real estate as a safe haven for their investment dollar. A long time favorite with many, Jamaica’s exclusive enclave of Rose Hall continues to be the number one choice for foreign buyers. I

With people getting back to the basics of wealth acquisition, well positioned real estate is resurfacing as a strong and powerful asset. Says Judith Ferger, sales representative for real estate agency Resort Properties Jamaica; “Jamaica is a beautiful island, and that is a fact that will never change. To own a piece of it, is to own a treasure. Montego Bay’s elite enclave Rose Hall, in particular, has all the elements to fulfill most people’s desires and dreams.”

Resort Properties’ Real Estate Agent Judith Ferger (Photo: Heidi Zech)

States Judith; “It is particularly exciting to see that the interest in island real estate continues to be strong despite the downturn of the international economy.” Explains the real estate agent; “Many shrewd, long-term investors are recognizing this as an opportune time to acquire property in Jamaica, because they also gain the benefits of enjoying a lavish and sophisticated island home.”

Originally from the countryside in the outskirts of Köln, Germany, the European native has lived and worked in Rose Hall ever since she fell in love with the island 10 years ago and has witnessed firsthand the tremendous growth that has taken place. Says the sales representative; “The 2000 opening of the Ritz-Carlton Golf & Spa Resort had an immense impact on Rose Hall. It truly placed the community on the map as a premier destination.”

Located along the ‘elegant corridor’ named for its exclusive resorts, beautiful beaches, stunning golf courses, shopping and historic landmarks, Rose Hall is the perfect location for a vacation home, an investment property or a primary residence. Explains Judith; “Location is still the determining factor for property buyers and Rose Hall remains the preferred pick.”

Only a 15 minute drive from the recently redeveloped Montego Bay International Airport on a brand new 4 lane highway, the community continues to attract a high-end clientele and with a first class private school, restaurants, shopping center, convention center, private hospital and much more on the horizon, the area has seen consistent growth over the last three decades. Explains Judith; “Rose Hall Developments is making a conscious effort to create a complete community, slowly adding all the components required for true fine living.”

Says Judith; “The beautiful neighborhood of Spring Farm has stunning homes that were built up to 40 years ago, and the surrounding scenery looks just like it did some 500 years ago, when Christopher Columbus declared it ‘the fairest land he had ever seen’.”

While Cinnamon Hill Estates, adjacent to its namesake golf course is being considered as the next phase for Rose Hall’s residential lots, Resort Properties Jamaica also has some great villas on the market. Says Judith; “A playground for the rich and famous since the 50’s, villas overlooking the Caribbean Sea have dotted the hills of Jamaica and long been the favored type of residence among celebrities. The likes of Lennox Lewis, Keith Richards, Naomi Campbell, Jane Seymour and Ralph Lauren all own private villas on the island.”

Philadelphia-based media tycoon Chase Lenfest, who has purchased three multi-million dollar properties in Rose Hall, recently said to the Wealth Bulletin; “This area is perfect for me to come with my family as it’s very safe, there’s always plenty to do and it’s only 15 minutes from the airport. Property is a great investment compared to the prices you would pay if you were buying in Barbados or Anguilla.”

Explains Judith; “It’s a small island, so choice inventory is limited and finite. You can’t go wrong if you buy direct oceanfront, and buying high-end is even better. Property buyers should definitely take a look at the new, 5-star Palmyra Resort & Spa, a fabulously furnished condo-hotel offering the preferred lifestyle of the 21st century homeowner. Its condominiums and villas are getting a warm reception from individuals seeking a luxury vacation home with good investment prospects.”

According to Judith, maintenance free luxury living with world class facilities has been a long awaited necessity in Jamaica; “The Palmyra has done an excellent job in responding to that need. The tropical style village resort offers first-class real estate products in an excellent location, surrounded by 3 championship golf courses and several established luxury hotels.” With a model unit available for viewing on-site, Judith says that buyers feel comfortable investing with the project as it is so far along in construction (opening 2009). The Palmyra’s accolades already include numerous international awards as well as membership into the exclusive hotel chain

Stunning view of the Rose Hall coastline (Photo: Heidi Zech)


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