Jamaica Real Estate | Renting, Owning, Financing

I sat down with Jamaica real estate extraordinaire, Margit Eder. Margit, originally from Germany, has been in the industry here in Jamaica for the past 11 years with a main focus and expertise on the Negril market. She is one of the most well versed Jamaican real estate agents I know. Her knowledge and portfolio of Negril properties are extremely diverse. Regardless of your budget, type of property you're looking for or whether you want to rent or buy Margit is the person to speak with about Negril real estate.
Our conversation in this episode is wide ranging as we talk about everything from a general overview of Jamaican real estate to who is eligible to purchase property in Jamaica all the way to the requirements necessary for a bank loan for the purposes of purchasing real estate.
There are three amendments to our conversation I would like to insert as it relates to real estate financing
You can get a loan as low as 4.25%
You can finance up to 90% of the mortgage
You can get a 2nd mortgage up to 75% financing (construction loan)
If you have any questions on anything we discussed please leave them below in the comments. Margit and I would be more than happy to answer them
0:00 Intro
2:33 Current Jamaican Real Estate Market
4:34 Foreigners Working from Abroad in Jamaica
6:03 Real Estate Demand Doubling during Covid
7:00 Cost of Rent in Negril
11:31 Buying Land in Jamaica
16:15 Cost of a Gated Community Home in Negril
21:24 The Process of Real Estate Purchase
27:17 Requirements for Purchasing Real Estate
30:58 Contact info & Closing out
Scotia Bank Mortgage Checklist:
jm.scotiabank.com/personal/bo...
Little Bay Country Club Negril Episode:
• How much does a house ...
My Socials
IG: @throp
FB: @throplife
Twitter: @throplife

[@ingababy5196]

We as Jamaicans living in the diaspora definitely NEED to go back and purchase properties in Jamaica. We can’t sit by a let none Jamaicans own everything.

[@Throp]

TOTALLY agree Ingrid

[@anngore3842]

Better run fast 'cause property is selling fast and prices are going through the roof.

[@boogsybrooks]

They have these white realtors selling everything to non black and non JA foreigners.

[@chelseaclinton2927]

Throp is such a good interviewer.

[@Throp]

Thank you so much!!!

[@kingnaldo4058]

My insatiable appetite keeps me salivating for these interviews *Throp* ..... Keep up the amazing job, my brother 👏🙏👏

[@Throp]

awesome! Thanks so much for watching

[@t-rayh8242]

Another great video Throp…..pretty much the only content I watch on social media these days. I’m a returning resident in my 30’s and I have bought/own several properties both new development and resale since 2017 here in Jamaica…..as a result, I’ve learned so much and love to share what I learn with others….if you ever need to speak with someone from the perspective of a returning resident buying real estate in Jamaica….hit me up🙂.

[@Throp]

Awesome. Thank you for watching. Can you DM on IG your contact info? @throp

[@t-rayh8242]

Hey Goodnight Throp I just did….on your Ig…talk soon 🙂

[@frankwilliams977]

I am interested

[@vintagecouture2275]

I think that would be an awesome perspective for Milennials interested in doing the same thing. Hope this interview happens.

[@vaneitaadams4790]

Goodness Throp, You are not making it easy for for me to stay in Atlanta. Are you trying to get all of us to Jamaica?! This is beyond fantastic. Love the interview and love Margit's candid honesty.

[@Roseforres]

God has really blessed me in allowing me to start my transition back to Jamaica in 2017. She is absolutely right about the real estate market. It has exploded. I was so happy to be able to travel there during covid. The freedom, food and fresh air was amazing,

[@glenfordburrell2133]

Excellent show. Full of Clarity and straight forward. Will be getting on-line immediately!

[@suebell1212]

Very informative, since I’m planning on returning to Jamaica permanently, thanks! 🇯🇲

[@chelseaclinton2927]

Thank you for believing in Jamaica. I wish you well.I will be returning too.

[@giniolamy]

Nice big up your self 💪🏾

[@giniolamy]

@@chelseaclinton2927 💯💯💯💯

[@Throp]

Thanks so much for watching!

[@17blaqsho52]

Great video. I’ve vacationed on the island twice. Have plans to return in March for a few days and possibly look at some land. This helped a ton. Bless up 🇯🇲🤙🤙

[@rocmon]

Margit is an awesome realtor, very knowledgeable and zero pressure! Blessings!

[@Throp]

Agreed!

[@margiteder8274]

Thanks so much.

[@AdrianW3D]

Amazing interview! I'm a jamaican (still have my jamaican passport) who's been living in germany for 26 years and I'm seriously concidering to buy some type of apartment in Negril since I have relatives in Orange Bay. Thanks for putting this out there. Super informative and I'll be sure to contact Margit in the near future.

[@Throp]

Absolutely! Thanks so much for watching!

[@cmorr8027]

I got lots of great information from this interview. This will be extremely helpful to someone abroad considering investment in Jamaica.

[@Throp]

Thanks so much for watching

[@shellywilks883]

Wasn't expecting this episode tonight Throp, but thank you. Have a goodnight👍

[@Throp]

You are welcome! Thank you for watching

[@berydale]

This interview was thorough. My style of detail and transparency. Thank you very much.

[@Throp]

Thank you so much. You’re very welcome

[@velissalewis5321]

I just returned back from another trip to Jamaica. I have been watching your videos since about 3 am. I love Jamaica. Thank you for your very informative videoe.

[@Throp]

WOW! Thanks so much for watching! I hope you had a good trip

[@errolpaisley9489]

Hello Throp, just want to let you know that I enjoy your show a lot , it is very informative and educational, keep up the good work.

[@Throp]

Thank you so much I appreciate the kind words. I will do my best to keep them coming

[@pashpash8770]

Very informative. Thank you and keep up the amazing work. 👏

[@Throp]

My pleasure. Thanks so much for watching

[@angelaforbes3395]

Excellent video contents. Very informative , I learned a lot, as I’m interested in purchasing a property. Keep doing what you’re doing my brother, looking forward to more video’s. Thanks again. ❤️

[@Throp]

My pleasure. Thanks so much for watching

[@noblegirl1991]

I love negril. My happy place to just hang out at the because. I think Trelawny is nice as well especially close to Falmouth

[@shermede1986]

Under contract now on a home in St Mary Galina. I'm overseas and the process is about 3 months not including getting your TRN # if your not in Jamaica, that takes about 2 months to get your # emailed to you. Jamaica National Bank is 5% interest and offers 100% financing, not sure if there still offering this but check them out. Thanks for the video Throp.

[@Saffie_Anderson]

Hey I’m under contract as well, my mortgage approval just came through 🙌🏽 I’ll be in Runaway Bay St Ann. Are you in the scheme in Galina where the houses are built custom? If so I saw them on property viewers channel, looks amazing

[@shermede1986]

@@Saffie_Anderson no it's not in a gated community

[@Throp]

Absolutely and thank you for your insight

[@d.robinson9177]

Thank you for sharing 💕

[@vaneitaadams4790]

Oh Wow. When I started watching this I had second thoughts about Margit, but my gosh. what a knowledgeable woman. Impressive.

[@margiteder8274]

Thanks!

[@tinaoneworld]

Thanks for the great interview, Margit Eder is a great realtor, she was the only one in J.A., who was able to sell my house located in the hills of Westmoreland, big up Margit!

[@Throp]

awesome! Thank you for watching

[@margiteder8274]

Thanks so much, Tina! It was great working with you!

[@pgardener-c5709]

Great information especially related to deposits, interest rates and having to get financing in Jamaica if required.

[@Throp]

awesome Thanks so much for watching

[@lorrainesmall5448]

Thank you very informative, I'm interested in long term rentals for snow birding so this was great!

[@Throp]

Awesome. Thanks for watching

[@shamayahu]

Thanks great show..✌🏿🙏🏿

[@Throp]

Thanks so much!

[@theamazingmg6947]

Thanks so much for sharing this interesting video ❤

[@Throp]

Thank you for watching!

[@Odaine29]

Very informative.

[@Throp]

Glad it was helpful! Thank you for watching

[@Fabziy]

Good vlog mate

[@Throp]

Thanks so much

[@Saffie_Anderson]

Thanks for this, I’m under contract and just had my mortgage approved so on my to coming home. But let me tell you of the stress, my Wray and nephew got me through it. 🙌🏽🤣🙏🏼

[@wide-eyedwonderer4524]

Really? I actually haven't had any stress so far. Just anxiety because the process is taking a while.

[@Saffie_Anderson]

@@wide-eyedwonderer4524 maybe because I’m not in the country at present, I’m used to more streamlined process. Jamaica is just unnecessary in their processes and comms are poor

[@wide-eyedwonderer4524]

@@Saffie_Anderson Oh. That makes sense. I am using VMBS to secure a mortgage. I don't even have to go to an office to submit documents. They have a good online platform and once I got in contact with an officer, I haven't had to go back in branch. We really have to work on the customer here.

[@Throp]

ahaha good ol Wray

[@millicentwatson1824]

Thank you for your information

[@Throp]

Absolutely!

[@CenterPointConstruction]

I am building in the hills and the view is very breath taking

[@Throp]

awesome. Good for you

[@jessicahenry8612]

Great information

[@Throp]

Thanks so much for watching!

[@fitzroyjackson4294]

I like 👍 good information

[@Throp]

Thank you for watching

[@hutchinsonjohnson2909]

Love you video brother ❤ nice

[@Throp]

Thanks so much

[@eileenwatt8283]

I wish they would have gated communities in the hills. Being away from the beach is healthier. The sea water destroys appliances and home fixtures. I imagine it's doing the same to someone skin who lives in beach properties. Luscious hills where fruits and vegetables are grown are great.

[@Throp]

I know all too well what sea air does to appliances. Thank you for watching

[@jessicahenry8612]

Thanks again for the content. Can you also do interviews relating to the health sector and how older people/ those with health issues can get their meds shipped to Jamaic. Thanks

[@eileenwatt8283]

Try Irie. She's a Ukrainian living in Jamaica who does excellent videos on Jamaica. Your question would be something she would explore and vlog on.

[@t-rayh8242]

Also most medications overseas are available here in Jamaica. You can also purchase private insurance here….Sagicor offers some great options

[@Throp]

Great suggestion

[@simmertrish2833]

Does anyone know the best online site to view land/house for sale in Jamaica?

[@lisamariechinking6079]

🔥🔥🔥🔥🔥

[@ingababy5196]

When I move back to Jamaica I definitely want to live in a place where everything is easily accessible. What can I say I’m spoiled after living in the US for over 30 years 🤷🏾‍♀️🤷🏾‍♀️🤷🏾‍♀️🤷🏾‍♀️

[@Throp]

I think this is a fair request/expectation

[@PLUTO-du7xx]

Can you show the other properties that aren’t ocean front please.

[@Throp]

Absolutely. I'll have one out in a few weeks

[@muzikmanc]

Is Pointe Village not a hotel anymore? Used to go there a lot as a child.

[@Throp]

No not for many years. They're all privately owned apartments now

[@scopes9040]

Very informative as I’m interested in rental in Negril. As I’m a lone traveller security is paramount and I would like options of best places and price foe a 3 month stay

[@t-rayh8242]

As someone living in Jamaica for the last 2 yrs now and have bought real estate here….if you are concern about security….one of the more suitable options may be gated communities

[@scopes9040]

@@t-rayh8242 thanks for your response.

[@Throp]

Thanks so much for watching!

[@marolgrant1939]

Thorp is the best.

[@synolve]

Are there credit checks in Jamaica 🇯🇲 like in the US with credit bureaus or is it that you just need to have the requirements that were mentioned in the video and that serves as the “credit check”? Is there a fee for the surveys and other services that are done once the deal is accepted by the seller?

[@Throp]

Great questions. Jamaica does not have as robust a credit scoring system as the US. Loans are largely based on your income. If you have Jamaican assets such as land or property there are opportunities to borrow against them. Yes there is a fee for the survey as well as having a valuation done on the property. Both will be the responsibility of the buyer. These are completed before the deal is closed. These are requirements from any lending institution.

[@rawminimalist9043]

@@Throp if you know, can I use my military retirement as a source of income. Im looking to buy land and build to my standard but, not opposed to purchasing a fixer upper.

[@margiteder8274]

If you need financing you have to provide a recent survey and evaluation. Costs depend on the size of the property and is borne by the purchaser. If you are a cash purchaser you don't need any of that but it is recommended to do a boundary check. Also done by a surveyor. We don't do a credit check when we see your name on the bank statement, the banks will do if you need financing.

[@markyg7734]

Throp, great programming. Will there be any gated development in the hills?

[@Throp]

Thanks so much. Where do you mean when you say the hills?

[@markyg7734]

@@Throp During the conversation there were mentions of the hills, this gave me the impression that there is hill terrain in the same area that could be a more affordable option to the seaside development.

[@careymould6544]

Throp where is nagris contact info I am thinking i would like purchasine of thise cliff side littlebay counteyclub units

[@trevorbolton4437]

If it takes so long to get titles then what happens if the funds are not there at the end of the deal or the proof of funds now becomes way less or different than what was first presented.

[@t-rayh8242]

Not necessarily you will loose. I bought several properties in Jamaica and it depends on what you negotiate in the sales agreement….most sellers and developers will agree to refunding you your deposit minus an admin fee

[@Throp]

Thanks for this

[@althealongman4548]

I really need an apartment for sale. In the 12 million range. Any advice?

[@Throp]

I'd say contact Margit. Best person to ask. 876-290-1581 [e-mail]

[@sharonmcfarlane1289]

Is there an age requirement for Seniors seeking a mortgage to complete the purchase of a home in Jamaica after you have made your down payment?

[@margiteder8274]

You can get a loan up to 70 years.

[@yvonneh5334]

@@margiteder8274 That's wonderful to hear! About 7 years ago, banks in Jamaica would not give me a mortgage loan because of my age (over 50 years old). To qualify, I needed a younger person to cosign. Posted interest rates in those days were 8.5 - 11%. Now mortgage rates are as low as 5%. Great!

[@viragravesande6920]

If you have cash to buy land you only need a lawyer, then get you TRN get planning drawn up and start building once the parish council give the go ahead

[@t-rayh8242]

For persons not familiar with the buying process in Jamaica….it’s definitely advantageous to source the help of a good realtor…even if you are buying cash.

[@Throp]

Thanks so much for watching!

[@maddie9077]

Great video ,,, but $1700 in rent? that is New York prices

[@Throp]

Yeah. It’s getting up there down here. But it’s till early days. It’s Bedstuy 10 years ago right now

[@giniolamy]

I want to move to Jamaica 🇯🇲 asap 🙏🏾🙏🏾🙏🏾

[@Throp]

I hope you make it happen

[@giniolamy]

@@Throp i hope so 🙏🏾🙏🏾

[@CenterPointConstruction]

It's a beautiful place

[@lisamariechinking6079]

🥰🥰🥰🥰🥰

[@Throp]

I'm glad you like it Lisa

[@frankwilliams977]

I am interested. I live in the UK. I was born in the UK but my parents were born in Jamaica. I am full time employed I own my house here in England. Please help me purchase a property in Jamaica. Thank you

[@margiteder8274]

Let me know which location you are looking for, size of land/house and what your budget is.

[@Tourlou0409]

So Throp, you need to get a lil Jamaican accent too like her! lol

[@Throp]

ahaha you don't want to hear my Jamaican accent

[@Tourlou0409]

@@Throp lolol

[@boogsybrooks]

@@Throp Youre helping to over run Jamaica with non Jamaican foreigners. Well done.

[@suzettetyree8911]

Would you provide her contact information? Looking to purchase in the Negril area.

[@t-rayh8242]

Contact info was given at the end of the video

[@Throp]

876-290-1581 [e-mail]

[@jahmallajaima]

Do you have an email i can write to you at? If you dont want to put you email here i can put mine here. Id like to ask you some things and had some thoughts , ideas on somethings you could do videos on. My memory not good so i dont remember if i mentioned i live in Hawaii and if youve ever wanted to come here , ill show you around. Aloha. 🌋

[@Throp]

Thank you son much for the offer! I’ve never been. But you can shoot me a DM on Instagram @throp

[@maxinelilly8358]

To be an AUTHENTIC JAMAICAN requires more than owning a house on the island. No space for animals + no space for crops = FAMINE!! People unuh wake uuup!!!

[@northside3701]

German people worship Jamaica, she even has an accent lol

[@Throp]

ahaha thanks for watching

[@racquelh9823]

I could hear the mixture of accents

[@denwill1648]

@@racquelh9823 yeah the accent comes from being their for years, not worship. Perhaps you are not aware of the germam businesses in JA that does not allow local Jamadians in. They want what we got don't confuse that with love for us.

[@margiteder8274]

@@denwill1648 Which business would that be? You are welcome to work with me.