Advertorial: The Jamaica National Group
Speaking to a roomful of nationals and friends of Jamaica, Carlton Earl Samuels, chief development financing officer of The Jamaica National Group, says Jamaicans in the Diaspora should prepare to increase their investment in the country’s economy, noting that it is now experiencing steady growth.
Pointing out that the fundamentals of the Jamaican economy are strengthening, Mr. Samuels said inflation is low, measuring 2.4 per cent in 2018, according to the Statistical Institute of Jamaica, while the Consumer Price Index pegs inflation at 4.2 per cent for June 2019.
He was one of the keynote speakers at JN Bank’s “Home Ownership Made Possible Forum,” held at the Hilton Garden Inn in Toronto, an event offering up-to-date information about real-estate investment opportunities in Jamaica.
Mr. Samuels also pointed to the fact that policy interest rates are low at 0.75 per cent up to June 2019, pushing banks and other financial institutions to lower their offer on credit making loans, including mortgages, cheaper for borrowers.
“Jamaica is on a very good path; however, you can assist to catalyze that pace of development and success by investing in the country, not only through remittances, but through business, the stock market and real estate,” he advised.
He noted that The JN Group was, therefore, well positioned to assist potential investors to navigate this emerging Jamaican economy, given the company’s wide areas of expertise and offerings.
In supporting Mr. Samuels’ call, Petal James, Head, Mobile Banking JN Bank, encouraged Jamaicans living in Canada to consider real estate in Jamaica as one of their key investment options.
“Acquiring real estate in Jamaica is a very powerful way to build wealth,” Miss James said. “Many persons do not realize that borrowing to purchase a house is a powerful way to build wealth, given that over the next 20 years a house would have appreciated significantly in value, and the loan value would be significantly reduced.”
She noted that with a major reduction in transfer tax and stamp duties, as well as low interest rates spread across the private and public sectors, increased mortgage options and the financing funds available to potential mortgagors. Consequently, many stakeholders would agree that there has never been a better time to invest in the real-estate market.
“The real estate sector in Jamaica is booming. Property values have increased, and the market is ripe with extensive opportunities,” she stated.
“There are opportunities, not merely for you to purchase a home for owner occupancy, particularly if you are planning to retire in Jamaica; but there are also other areas for investment within the sector.”
Ms. James stated some persons do not purchase only for long-term rental, but to enter the emerging, lucrative home-sharing market, which has become popular largely via the Airbnb platform.
She said the opportunities for investment and wealth creation are endless, and that the JN Group was ready to assist persons who wanted to navigate the market.
For more info. visit www.jngroup.com, www.jnbank.com.