Buying Property in Jamaica - 7th Heaven Properties (2024)

Welcome to the 7th Heaven Properties guide to buying property in Jamaica, your essential companion for navigating the enchanting appeal of the island of “One Love.”

Famed for its unique culture and breathtaking landscapes, Jamaica has a vibrant property market which is a haven for buyers seeking their dream home or a rewarding investment in paradise.

Discover the beauty of this incredible island, find out why property buyers are investing in real estate in Jamaica and delve into the real estate market with a showcase of property listings and blog posts highlighting the island’s unique charm and advantages.

From the ins and outs of buying property in Jamaica to an essential overview of relevant taxes, this is your ultimate go-to resource.

• Overview - The Real Estate Market
• Why Invest?
• Latest Real Estate Listings in Jamaica
• Best Places to Buy
• Mortgages in Jamaica
• How to Get There
• More from the Blog

Overview - The Jamaica Real Estate Market

From the cool hills of the Blue Mountains to the white sands of Montego Bay, Jamaica is simply stunning. Its landscape seduces the senses and has lured Hollywood royalty for decades. Marlene Dietrich, Marilyn Monroe and Sophia Loren count among those who are known to have fallen in love with the island.

Jamaica’s idyllic beaches, crystal clear sea, cascading waterfalls and lush mountainous backdrops have made the island the destination of choice for countless weddings, honeymoons, and family vacations. In 2018 a record 2.47 million stopover visitor arrivals were welcomed by this Caribbean powerhouse located almost halfway between the Cayman Islands and the Dominican Republic.

With championship golf courses, restaurants and spas catering to those who plan on staying for longer than a vacation, there is also a well established real estate market in Jamaica. There are several prestigious gated communities with luxury homes available, including beachfront property and villas overlooking golf courses in locations including Montego Bay, Negril, Ocho Rios, Port Antonio, Runaway Bay, and St Ann.

“The island of “One Love,” Jamaica is a unique destination unlike any other in the Caribbean with a vibrant property market enjoying tremendous growth”

Can foreigners buy property in Jamaica?

Yes, foreigners can buy property in Jamaica and the Government of Jamaica welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in Jamaica and foreign buyers enjoy the same rights as Jamaican citizens.

Buying process

Buying property in Jamaica is a relatively simple process, which typically involves the following steps:

1. Begin your property search.
2. Find your perfect property and make an offer.
3. Once you have made an offer on a property and that offer has been accepted, a land survey and title search should be conducted.
4. The seller’s attorney will prepare an Agreement for Sale.
5. Upon signing you will typically need to pay a deposit of 10% to 20% and the balance will then be paid in installments.
6. Pay all required taxes and fees.

Fees & taxes

Stamp Duty

Total stamp duty amounts to JMD $5,000 which is split equally between buyer and seller – Buyer JMD $2,500; seller JMD $2,500.

Transfer Tax

There is also a Transfer Tax of 2% of the purchase price of the property, which is paid in its entirety by the seller.

See Also

Jamaica Homes: Pioneering Transformation in Jamaica's Booming Real Estate MarketHow to Retire in Jamaica: Cost of Living, Healthcare, Visas and More9 Things to Consider Before Moving to JamaicaRE/MAX head says Jamaica has an affordable housing crisis - Our Today

Registration Fee

A registration fee amounting to approximately 0.5% of the purchase price is payable to the Registrar of Titles.

This fee is also split equally between buyer and seller – Buyer 0.25%; seller 0.25%.

In the case of unregistered land, a nominal recording fee is required.

Legal Fees

We would recommend that you seek the advice of a local attorney-at-law.

To avoid conflicts of interest we would suggest you seek independent legal advice.

Fees for acting in your behalf for the property transfer, for preparation of the Agreement for Sale and for preparing and reviewing all required documents typically amount to 2% to 3% of the purchase price plus 16.5% Consumption Tax.

Property Tax

There is also a nominal property tax based on the unimproved value of the land.

Latest Real Estate Listings in Jamaica

View All Real Estate Listings in Jamaica

How long can a foreign citizen stay in Jamaica?

Citizens of the USA, Canada, UK, EU countries and many countries in CARICOM, the Commonwealth and Latin America are permitted to remain in Jamaica on holiday without a visa for up to 3 months.

How do you become a resident of Jamaica?

Individuals looking to stay longer than 3 months in Jamaica can apply to the Jamaican Passport, Immigration and Citizenship Agency (PICA) for an extension which may allow an extension up to 6 to 12 months.

Retired individuals who are financially solvent, of good character and no longer have no need for employment can apply to PICA for permanent residence in Jamaica.

How do you become a citizen of Jamaica?

Individuals who have lawfully resided in Jamaica for 5 years can apply for citizenship by naturalization.

• Miami to Jamaica 1h 40m
• Atlanta to Jamaica 2h 50m
• Dallas to Jamaica 3h 55m
• New York to Jamaica 3h 55m
• Toronto to Jamaica 4h 10m
• London to Jamaica 9h 20m

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Fast facts

• Population 2.948 million
• Capital Kingston
• Language English
• Currency Jamaican Dollar
• Time zone GMT-5 | ET