My partner has inherited land in Montego Bay jamaica??

Question

it was worth 700,000 jamaican dollars in 1977 but havnt got a clue what its worth now- would anyone have a clue on costs of building a 3 bed house out there? thanks

Answer 1

what size is the land? real estate is big business here in jamaica, especially in montego-bay. to build three bedroom house would probably cost you $50,000 us dollars/$3million jamaican. You guys probably need to have that land valuated by an authorised quantiy surveyor. You can look one up in the jamaica yellow pages online.

Answer 2

At Cozumel your greatest threats are: sun burn, and misplacing your money. Seriously most of what you hear is Mexican media irresponsible news coverage Yes there are nasty things happening but crime rates are not that high For what I know Is that the killings contrast in both countries are as follow Jamaica 70 per 100 000 people Mexico 10 per 100 000 people Still Jamaica is safe as long as you stay in the resorts. For Mexico I can tell you, you could travel around and be quite safe. Of that number of killings just gave you about 93% are gang members due to the fight between rival gangs. Some places like the state of Yucatan for what I have heard it has a crime rate similar to Switzerland Yucatan is a neighboring state to Quintanta Roo where Cozumel or Cancun are. Cozumel is an island. By the way; Mexico is quite a large country so violence is quite far from where you are going is far away I know this I´m living in the northern region of Mexico (where the violence is allegedly taking place) the only news I have heard was a Hollywood producer killing his own wife

Answer 3

Jamaican fatty implies that the Jamaican dollar is trading at 60 to one, so the land may not be worth much more than $10,000 US........

if you are going to try and be an absentee owner, getting a reliable honest contractor is going to be hard.....

and if you aren't Jamaican nationals here's the big thing.....remember Jamaica is an independent country..they have laws and rules about foreigners owning and building land...better check REAL carefully before putting money into anything...I'm going through something similar as an American building in Antigua.....

Answer 4

Oh how I would LOVE to own a small piece myself......rent it out if you don't plan to live there or as someone said sell....you can build a bit at a time as they do and you don;t need to worry about any insulation..good for you! Enjoy your piece of the Island...........

Answer 5

Make sure it is solidly built as the area is prone to hurricanes

Answer 6

Sell it, take the money and run the hell as far away as you can