Ocho Rios real estate in Jamaica is popularly known as Ochie. Translated into English it means eight rivers. This town is located on the popular north coast of the island in the parish of St Ann. Houses for sale in Ocho Rios Jamaica provides a perfect opportunity for investors to find accommodations for rent or for resale. This is bolstered by the recent spate of foreclosed properties that have recently become available in the town. Jamaica property is now well known for this recent aspect where auctions and fire sales have become extremely popular.
Property for sale Ocho Rios can be found using several methods, you can find a Jamaica real estate agent, you can find listings online, you can get a copy of the local newspaper, and you can contact Jamaican real estate lawyers or travel the country side looking for ‘FSBO’ signs on properties. We strongly recommend that you use the first option of using a Jamaican realtor. However many people wonder where are the best places to find homes for sale Ocho Rios. There are clearly some better locations in the town to find whether you are looking to rent or purchase.
These are Shaw Park, Buckfield, Columbus Heights, James Avenue, Great Pond, Bonham Spring, New Hope, Upton, Pineapple Place, Marvin’s Park, Eltham and Mansfield Heights. It is important to note that you have both Old Buckfield and New Buckfield which was created when the highway was constructed and split the single community. Houses for sale in Ocho Rios Jamaica are typically rare commodities because of their residual value. Over the last decade Jamaican property has escalated more than 70% in value and as a result properties in this town have become very expensive to both purchase and maintain.
As an investor you would know that property insurance is fundamental and you don’t want to scrimp on that. A fire or hurricane can quickly destroy your investment and leave you with nothing. So this is definitely a major consideration. Apartments in Ocho Rios tend to be on the more expensive side because of the fact that most owners prefer short term rentals. Anything over 3 months (90 days) will yield about USD$6,000. This is common place as a method of attracting revenue as most people that use these short term rentals are expats (expatriates) or tourists coming to the island for just a short while.
An ordinary Jamaican national would be better off finding some other accommodations outside of the major town to live in. One such popular place is Lime Hall or Priory on the outskirts of the town. Ocho Rios homes are commonly found on the following
Main Street (St.)
Methven Road (Rd.)
Milford Road (Rd.)
Dacosta Drive (Dr.)
Graham Street (St.)
Evelyn Street (St.)
James Avenue (Ave.)
Bucksfield Drive (Dr.)
Perth Road (Rd.)
Pineapple Street (St.)
Eden Bower Road (Rd.)
These are all typical locations that you would find houses for sale in Ocho Rios Jamaica. Jamaica real estate in this town is again considered of very high value because crime rates are very low and earning potential in the form of rental income remains very high.