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

Пікірлер: 142

  • @ingababy5196
    @ingababy51962 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    TOTALLY agree Ingrid

  • @anngore3842

    @anngore3842

    2 жыл бұрын

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

  • @boogsybrooks

    @boogsybrooks

    2 жыл бұрын

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

  • @chelseaclinton2927
    @chelseaclinton29272 жыл бұрын

    Throp is such a good interviewer.

  • @Throp

    @Throp

    2 жыл бұрын

    Thank you so much!!!

  • @kingnaldo4058
    @kingnaldo40582 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    awesome! Thanks so much for watching

  • @t-rayh8242
    @t-rayh82422 жыл бұрын

    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

    @Throp

    2 жыл бұрын

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

  • @t-rayh8242

    @t-rayh8242

    2 жыл бұрын

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

  • @frankwilliams977

    @frankwilliams977

    2 жыл бұрын

    I am interested

  • @vintagecouture2275

    @vintagecouture2275

    2 жыл бұрын

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

  • @vaneitaadams4790
    @vaneitaadams47902 жыл бұрын

    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
    @Roseforres2 жыл бұрын

    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,

  • @suebell1212
    @suebell12122 жыл бұрын

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

  • @chelseaclinton2927

    @chelseaclinton2927

    2 жыл бұрын

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

  • @giniolamy

    @giniolamy

    2 жыл бұрын

    Nice big up your self 💪🏾

  • @giniolamy

    @giniolamy

    2 жыл бұрын

    @@chelseaclinton2927 💯💯💯💯

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much for watching!

  • @AdrianW3D
    @AdrianW3D2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    Absolutely! Thanks so much for watching!

  • @cmorr8027
    @cmorr80272 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much for watching

  • @glenfordburrell2133
    @glenfordburrell21332 жыл бұрын

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

  • @rocmon
    @rocmon2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Agreed!

  • @margiteder8274

    @margiteder8274

    2 жыл бұрын

    Thanks so much.

  • @errolpaisley9489
    @errolpaisley94892 жыл бұрын

    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

    @Throp

    2 жыл бұрын

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

  • @17blaqsho52
    @17blaqsho522 жыл бұрын

    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 🇯🇲🤙🤙

  • @shellywilks883
    @shellywilks8832 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    You are welcome! Thank you for watching

  • @berydale
    @berydale2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Thank you so much. You’re very welcome

  • @pashpash8770
    @pashpash87702 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    My pleasure. Thanks so much for watching

  • @shermede1986
    @shermede19862 жыл бұрын

    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

    @Saffie_Anderson

    2 жыл бұрын

    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

    @shermede1986

    2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Absolutely and thank you for your insight

  • @d.robinson9177

    @d.robinson9177

    2 жыл бұрын

    Thank you for sharing 💕

  • @velissalewis5321
    @velissalewis5321 Жыл бұрын

    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

    @Throp

    Жыл бұрын

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

  • @angelaforbes3395
    @angelaforbes33952 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    My pleasure. Thanks so much for watching

  • @noblegirl1991
    @noblegirl19912 жыл бұрын

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

  • @tinaoneworld
    @tinaoneworld2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    awesome! Thank you for watching

  • @margiteder8274

    @margiteder8274

    2 жыл бұрын

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

  • @vaneitaadams4790
    @vaneitaadams47902 жыл бұрын

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

  • @margiteder8274

    @margiteder8274

    2 жыл бұрын

    Thanks!

  • @lorrainesmall5448
    @lorrainesmall54482 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Awesome. Thanks for watching

  • @shamayahu
    @shamayahu2 жыл бұрын

    Thanks great show..✌🏿🙏🏿

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much!

  • @pgardener-c5709
    @pgardener-c57092 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    awesome Thanks so much for watching

  • @theamazingmg6947
    @theamazingmg69472 жыл бұрын

    Thanks so much for sharing this interesting video ❤

  • @Throp

    @Throp

    2 жыл бұрын

    Thank you for watching!

  • @Saffie_Anderson
    @Saffie_Anderson2 жыл бұрын

    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

    @wide-eyedwonderer4524

    2 жыл бұрын

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

  • @Saffie_Anderson

    @Saffie_Anderson

    2 жыл бұрын

    @@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

    @wide-eyedwonderer4524

    2 жыл бұрын

    @@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

    @Throp

    2 жыл бұрын

    ahaha good ol Wray

  • @Odaine29
    @Odaine292 жыл бұрын

    Very informative.

  • @Throp

    @Throp

    2 жыл бұрын

    Glad it was helpful! Thank you for watching

  • @Fabziy
    @Fabziy2 жыл бұрын

    Good vlog mate

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much

  • @eileenwatt8283
    @eileenwatt82832 жыл бұрын

    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

    @Throp

    2 жыл бұрын

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

  • @millicentwatson1824
    @millicentwatson18242 жыл бұрын

    Thank you for your information

  • @Throp

    @Throp

    2 жыл бұрын

    Absolutely!

  • @CenterPointConstruction
    @CenterPointConstruction2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    awesome. Good for you

  • @jessicahenry8612
    @jessicahenry86122 жыл бұрын

    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

    @eileenwatt8283

    2 жыл бұрын

    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

    @t-rayh8242

    2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    Great suggestion

  • @hutchinsonjohnson2909
    @hutchinsonjohnson29092 жыл бұрын

    Love you video brother ❤ nice

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much

  • @jessicahenry8612
    @jessicahenry86122 жыл бұрын

    Great information

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much for watching!

  • @fitzroyjackson4294
    @fitzroyjackson42942 жыл бұрын

    I like 👍 good information

  • @Throp

    @Throp

    2 жыл бұрын

    Thank you for watching

  • @lisamariechinking6079
    @lisamariechinking60792 жыл бұрын

    🔥🔥🔥🔥🔥

  • @PLUTO-du7xx
    @PLUTO-du7xx2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

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

  • @ingababy5196
    @ingababy51962 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    I think this is a fair request/expectation

  • @muzikmanc
    @muzikmanc2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

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

  • @markyg7734
    @markyg77342 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

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

  • @markyg7734

    @markyg7734

    2 жыл бұрын

    @@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.

  • @marolgrant1939
    @marolgrant19392 жыл бұрын

    Thorp is the best.

  • @simmertrish2833
    @simmertrish28332 жыл бұрын

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

  • @scopes9040
    @scopes90402 жыл бұрын

    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

    @t-rayh8242

    2 жыл бұрын

    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

    @scopes9040

    2 жыл бұрын

    @@t-rayh8242 thanks for your response.

  • @Throp

    @Throp

    2 жыл бұрын

    Thanks so much for watching!

  • @synolve
    @synolve2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    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

    @rawminimalist9043

    2 жыл бұрын

    @@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

    @margiteder8274

    2 жыл бұрын

    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.

  • @viragravesande6920
    @viragravesande69202 жыл бұрын

    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

    @t-rayh8242

    2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    Thanks so much for watching!

  • @giniolamy
    @giniolamy2 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    I hope you make it happen

  • @giniolamy

    @giniolamy

    2 жыл бұрын

    @@Throp i hope so 🙏🏾🙏🏾

  • @CenterPointConstruction

    @CenterPointConstruction

    2 жыл бұрын

    It's a beautiful place

  • @trevorbolton4437
    @trevorbolton44372 жыл бұрын

    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

    @t-rayh8242

    2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

    Thanks for this

  • @frankwilliams977
    @frankwilliams9772 жыл бұрын

    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

    @margiteder8274

    2 жыл бұрын

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

  • @Tourlou0409
    @Tourlou04092 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    ahaha you don't want to hear my Jamaican accent

  • @Tourlou0409

    @Tourlou0409

    2 жыл бұрын

    @@Throp lolol

  • @boogsybrooks

    @boogsybrooks

    2 жыл бұрын

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

  • @maddie9077
    @maddie90772 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

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

  • @careymould6544
    @careymould65445 ай бұрын

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

  • @lisamariechinking6079
    @lisamariechinking60792 жыл бұрын

    🥰🥰🥰🥰🥰

  • @Throp

    @Throp

    2 жыл бұрын

    I'm glad you like it Lisa

  • @althealongman4548
    @althealongman45482 жыл бұрын

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

  • @Throp

    @Throp

    2 жыл бұрын

    I'd say contact Margit. Best person to ask. 876-290-1581 margit@vlarealtors.com

  • @sharonmcfarlane1289
    @sharonmcfarlane12892 жыл бұрын

    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

    @margiteder8274

    2 жыл бұрын

    You can get a loan up to 70 years.

  • @yvonneh5334

    @yvonneh5334

    2 жыл бұрын

    @@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!

  • @suzettetyree8911
    @suzettetyree89112 жыл бұрын

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

  • @t-rayh8242

    @t-rayh8242

    2 жыл бұрын

    Contact info was given at the end of the video

  • @Throp

    @Throp

    2 жыл бұрын

    876-290-1581 margit@vlarealtors.com

  • @jahmallajaima
    @jahmallajaima2 жыл бұрын

    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

    @Throp

    2 жыл бұрын

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

  • @maxinelilly8358
    @maxinelilly83582 жыл бұрын

    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
    @northside37012 жыл бұрын

    German people worship Jamaica, she even has an accent lol

  • @Throp

    @Throp

    2 жыл бұрын

    ahaha thanks for watching

  • @racquelh9823

    @racquelh9823

    2 жыл бұрын

    I could hear the mixture of accents

  • @denwill1648

    @denwill1648

    2 жыл бұрын

    @@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

    @margiteder8274

    2 жыл бұрын

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