Jamaica, home of James Bond's creator, has new properties 30 percent cheaper than it's neighbors.
Licence to Chill
What do playwright Noel Coward and Bond creator Ian Fleming have in common? Both fell under the spell of the beautiful Caribbean Island of Jamaica and bought houses there during its glamorous heydays in the Forties and Fifties. The island has waited a long time to reclaim its reputation as a chic destination but, after a period when it received more coverage for its crime figures than its natural beauty, the future does seem brighter.
The airport at Montego Bay has been upgraded to the tune of £105 million. Smooth highways are replacing potholed roads. The first female prime minister has been peacefully inaugurated. Hotel and resorts are being built along the coast - Spanish money in particular is pouring into the country and many visitors confidently drive and walk around the city. "Crime was only ever serious in certain areas, particularly, around Kingston," says Wayne Sterling of the Jamaica Tourist Board. "Crimes against tourists are very low." The country acknowledges it drug problem and with Scotland Yard's help, is addressin it.
Jamaica, the third largest Caribbean islands sits below Cuba in the Caribbean Sea. A lush tropical island, where colorful hibiscus and bougainvillea flourish, it is described by Christopher Columbus as "a land od rivers and waterfalls". Montego Bay, on the northern shore, is three hours from Kingston and is protected from potential hurricanes by the belt of mountains that runs the length of the country.
Agents on Jamaica quote property at around 3o per cent cheaper than other Caribbean islands and say now is the time to buy. "Jamaica s back on the map," says Andrew Issa of Coldwell Banker. "It can finally be considered a true golf destination and is building its first international condominium development, The Palmyra, with a first class spa."
The Palmyra lies 15 minutes from Montego Bay airport, on a 16-acre site next to the new Ritz Carlton hotel. Upon completion, in late 2008, it will have 16 villas and 630 condos housed in five 12 storey buildings. Prices will range from £232,000to £1.15 million for a one to four-bedroom, fully furnished accommodation of 860 sq ft to 3,593 sq ft. All will have sea view.
The site was part of the 5,000 acre Rose Hall Estate, owned by former Miss USA Michele Rollins and her late husband John. The Rollins have managed the estate carefully and improved local infrastructure as well as piloting charity projects for orphaned children. Rose Hal now has three sea-view golf courses, including the Half Moon course, and the residents at the Palmyra will have preferred rates and access. The Palmyra will have an E'SPA-branded spa, gymnasium, three swimming pools, restaurants and 24 hour security and concierge service, al aimed at enticing the wealthy US rental market - 70 per cent of Jamaica's 2.7 million visitors last year came from North America. "This will be a landmark development for Jamaica," says Michele Rollins. "Golfers will love it, a national convention center is under construction and the beach location is wonderful. The best sell for Jamaica is to get people here to experience it."
Maintenance charges at The Palmyra will average £3,500 per year for 860 sq ft apartment. This includes golf access and all property taxes.
For further details of the Palmyra, contact PURE International (020 7331 4500; www.pureintl.com), visit www.explorethepalmyra.com or log on to Coldwell Banker Estate Agency at www.cbjamaica.com.
