In recent years, the Caribbean island of Jamaica has been better known for its crime problems than for its potential as an idyllic holiday home location. But renewed political stability and increased foreign investment have given Jamaica a fresh optimism.
Goldeneye on Jamaica
In recent years, the Caribbean island of Jamaica has been better known for its crime problems than for its potential as an idyllic holiday home location. But renewed political stability and increased foreign investment have given Jamaica a fresh optimism.
With improving infrastructure and record tourist numbers last year, developers are hoping that property buyers will now consider it as a realistic second home destination.
Jamaica, the third largest Caribbean island, lies nine hours away in the eastern Caribbean Sea. Its beauty is undeniable, with white sand beaches, colourful fauna and a lush mountainous landscape.
These mountains, running through the heart of the island, help protect the popular tourist areas in the north from hurricanes and, along with the high local rainfall, led Columbus to describe the country as ‘‘a land of rivers and waterfalls''.
In the 1940s and 1950s, Jamaica was a chic destination and celebrity hangout - James Bond creator Ian Fleming and playwright Noel Coward both owned homes here. The political unrest of the 1970s, when Jamaica flirted with communism, changed all that, and means that today property prices are up to 30 per cent below many other Caribbean islands.
Yet Jamaica is definitely buzzing again, with obvious signs of increased prosperity.
The airport has had a €156mill ion upgrade, and much-needed new roads are being constructed. Five thousand new hotel rooms are being added on the north coast, with Spanish money in particular pouring in.
‘‘Jamaica is back on the map for buyers," said Andrew Issa of Coldwell Banker. ‘‘The history and charm of the mountains and rivers have swept visitors away, and when they compare prices to, say, the Cayman Islands or Bermuda, they are pleasantly surprised."
The potential rental market is huge:70 per cent of Jamaica's 2.7 million annual visitors are from north America, with direct flights from many of the eastern cities of America. Most tourists stay in Montego Bay, Jamaica's second city and chief resort destination, on the north of the island. The capital, Kingston, is three hours' drive away, and not a place that many tourists would venture.
‘‘Crime was only ever serious in certain areas, particularly parts of Kingston," said Wayne Sterling of the Jamaica Tourist Board. ‘‘You need to be street-smart, the same as anywhere else in the world, but the number of crimes against tourists is very low."
Whilst many visitors confidently walk and drive around Montego Bay, all resorts are gated, with smartly-dressed guards politely but firmly checking all arrivals.
Building is about to start on Jamaica's first luxury condo development, the Palmyra Resort and Spa, on the Rose Hill Estate to the east of Montego Bay and adjacent to the new Ritz Carlton hotel. Bought by the late American philanthropist John Rollins in 1962 as a wild 7,000-acre site, Rose Hill has been successfully managed, lately by his wife Michele.
Today, it is a mixture of up market hotels, private estates with plush villas and three glorious golf courses with sea views.
The Palmyra offers 26 villas and 630 apartments in five townhouse buildings on its 16 acre beachfront site.
The Palmyra's design is big and brash, and undoubtedly aimed primarily at the American market but it fits in well at Montego Bay. The facilities at Palmyra will include a spacious E'Spa branded spa, tennis courts, pools, full concierge service and reduced rates at the three local golf courses.
‘‘The Palmyra, with its excellent spa, is a first for Jamaica," said Issa. ‘‘It's a magnificent project, and will help to make Jamaica a truly world-class destination, as well as a serious golfing centre."
Prices at the Palmyra, payable in US dollars, range from €335,500 to €1.7 million, with total completion due in late 2008. Units are all freehold with maintenance charges averaging €5,000 for an 80 square metre one-bedroom apartment.
Christopher McDonald from Bangor, Co Down first visited Jamaica six years ago, and has lived in Montego Bay for the past four months. He puts the weather and the local culture at the top of his reasons for enjoying life there.
‘‘The warmth of Jamaicans is fantastic. Family is very important here, even more so than at home," said McDonald.
‘‘Today, Jamaica is moving forward fast with improvements to the roads and general infrastructure.
"The government seems very pro-development. As for crime, I don't think the situation here is any worse than most places in the world. Jamaica is definitely getting better all the time."
Further east on the north coast, celebrities such as Harrison Ford, Johnny Depp and Kate Moss have found a favourite resort in Goldeneye, once home to Ian Fleming. All 13 of his James Bond novels were written in his colonial style house where almond trees frame the turquoise sea beyond.
Now run as a boutique hotel by Chris Blackwell, the founder of Island Records and the man who brought Bob Marley and U2 to public notice, Goldeneye is about to launch 60 low-level plantation-style villas and huts all set around an idyllic lagoon by the sea.
The site at Oracabessa will offer a natural, secluded retreat with prices from €500,000 to €2.49 million.
‘‘Both Palmyra and Goldeneye will be successful in the rental market, as they will fulfil a demand on the island for very upscale properties," said Issa.
‘‘It feels good to see Jamaica welcoming back people who want to be part of its rich traditions."
Further details on the Palmyra Resort and Spa are available from Pure International on 0044-207 3314500 and www.explorethepalmyra.com
Coldwell Banker Real Estate is at www.cbjamaica.com
Further details on Goldeneye from www.goldeneyedevelopment.com and 0044-208 7044500.
Fact file
Air Jamaica flies direct non-stop daily from London Heathrow to Montego Bay.
Fares are from around €860.
Virgin will begin flying from London to Montego Bay in June.
The rental programme at the Palmyra will operate with a 35/65 per cent split between the management company and owners
