Low Cash Input, Excellent Returns

OUR RATING

A good opportunity to get into the buy to let market with a low cash input & good rental market

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Wellington Moor

This project offers an excellent opportunity for our clients to invest and diversify into an alternative market within the Caribbean. The developer has built these properties specifically to meet the demands of the local market and to provide excellent quality studio accommodation that is in short supply.

The properties are located within a short distance of the hospital and university and these units have been rented to a mixture of young professionals, overseas students, retirees and companies; the apartments can also appeal to the second home market, but this is not the target market for the development.

This gated development of just 30 studio apartments has 24 hour security and enjoys manicured gardens with a communal swimming pool and gazebo. Each apartment has its own parking space, in addition to the visitors parking available.

The developer has completed other projects in the area and there is a contract in place with the developer to manage the complex, including the gardening and cleaning services. A rental service is also available to assist in the sourcing and screening of tenants, in addition to the collection of rental payments and remittance of funds to the investor. All units have been successfully rented as they have been completed.

These properties have been built to satisfy the demand in the local market and there are few alternatives to or competition for the accommodation provided by the project; monthly rental levels of between $800 and $1000 per month are achievable. This provides investors with an approximate rental yield of 8%, with the rents being paid in US dollars.

Finance is also available for the project, with mortgages available of up to 80% LTV, subject to status, through the Jamaica National Building Society, which  has a branch in  the UK.