Jamaica is experiencing a notable uptick in attention from global real estate investors, drawn not only by its idyllic beaches and rich culture but also by its longstanding political stability.
According to Roger Williams, interim CEO of Spectrum Capital Holdings, the surge in interest is primarily fueled by the Jamaican diaspora.
He was speaking at last week’s Jamaica Observer Monday Exchange where he also outlined plans for RE/MAX’s Real Estate Conference and Expo scheduled for April 14-16 at Jamaica Pegasus Hotel in New Kingston.
Williams highlighted the diaspora’s familiarity with Jamaica and their ability to contextualize news about the island, thus maintaining confidence in its investment potential.
Influence beyond borders
As Jamaicans abroad accumulate wealth, they increasingly seek investment opportunities in their homeland, influencing others to follow suit.
Williams emphasized the diaspora’s expansive network, which extends beyond Jamaicans, further amplifying investment interest in the country.
Favored regions and factors attracting investors
Williams pointed out a growing preference for properties along Jamaica’s north coast and northwest regions, particularly among overseas buyers.
He underscored political stability as a significant factor, citing Jamaica’s peaceful history of power transitions and its English-speaking culture as additional draws for investors.
Impact of global political climate
In an interview with Jamaica Observer, Audrey Wong, a realtor associate at Keller Williams Jamaica, noted a surge in interest from international buyers, particularly from the United States, ahead of their presidential elections.
She emphasized investors’ concerns about political stability in their own countries, making Jamaica an appealing destination for investment due to its perceived safety and potential for equity growth.
Political stability
Prime Minister Andrew Holness reaffirmed the critical role of political stability in Jamaica’s economic growth trajectory.
He emphasized Jamaica’s status as the most politically stable option in the region, reassuring investors of minimal political risk and committing to upholding peaceful democratic processes.
