Business
Housing market in Jamaica recovers
Tuesday, October 23, 2012
High rental yields
In 2011, the rent for four-bedroom houses rose by 4.8% to J$276,542 (US$3,210) from a year earlier, according to the UN International Civil Service Commission. The previous year’s growth was 9.3 percent, to J$274,706 (US$3,063).
“While sales are not at the same pace they were in the days of the investment schemes, they are picking up and prices are holding. Apartments continue to be a good investment with rental rates of US$2,000 to US$2,500,” says Issa.
Rental yields on apartments are strong, ranging from 9.34 percent to 10.08 percent, based on Global Property Guide research in December 2011.
Source: Global Property Guide
Continue Reading