OCTOBER 19 - NOVEMBER 19, 2020

THE WEEKLY GLEANER | OCTOBER 15 - OCTOBE R 21, 2020 | www.jamaic a-gleaner.com | I M ORTGAGE EXPERT Petal James maintains that despite the economic downturn in Jamaica due to the COVID-19 pandemic, real estate remains a strong investment conduit for Jamaicans abroad seeking to invest in the country. James, who is also chief of branches at one of Jamaica’s top three banks, said the market is buoyant for both residential and commercial investment. “Properties continue to hold value despite the climate and are even growing. Although there could be some levelling off, prices are not expected to decline,”she said, pointing out that there are several residential projects now under way in and outside of the capital, Kingston, that persons living overseas can seek to acquire. She said that although the short- term rental market has declined due to tourism and travel downturn, long-term rental remains robust. “Mortgage rates are low, and there are vast financing options available to persons, depending on their purpose and how they can finance payments,” she said. She said persons can visit the JN Bank Mortgage Centre on the JN Bank website, www.jnbank.com/ mortgage-home/jn-mortgage- centre/ , to get in contact with a representative for pre-approval. “One you’re pre-approved, we can connect you to a realtor so that you can identify a property that suits your comfort and budget,” she said, noting that persons can also opt in to receive the JN Bank eDevelopment newsletter bimonthly to see various properties on sale in Jamaica. There are also opportunities for larger investments in residential housing, James said. DEVELOPMENTAL FINANCING “Development financing is also available for those wanting to invest on a larger scale,” the JN Bank mortgage expert added, noting that the demand for high-income residential properties has not waned in Jamaica since the crisis. “From what we’ve observed in the market, it is still a good time to invest in real estate, especially residential properties,” said James. “There is a steady demand for properties right across the country, many of which are going quickly,” she said. “It’s clear that real estate continues to be one of the best investments anyone can make.” Making reference to the Jamaican Government’s recent call for lands, she said there is also opportunity for Jamaicans overseas tomake other forms of commercial real estate investments in the country. She noted that persons with arable lands in Jamaica not now in production can lease their property to theGovernment for agro investment and other projects.There is also awindow for them to invest in these projects. “There are business banking services available to assist investors with acquiring capital and other forms of necessary financing,” she highlighted, noting that the JN Group, of which JN Bank is a member, also provides access to premium financing, general insurance, fleet management, business process outsourcing, and property management through various financial and non-financial member companies. Investors can also access technology services from the JN Group’s member company, MC Systems, to include payment and payroll systems, to support business efficiency. “The opportunities in Jamaica are sound and deep, and JN Bank and our sister companies in the JN Group stand ready to support Jamaicans to ‘find a way’in their efforts to invest in the land of their birth,” James concluded. RETURN ING RESIDENTS FEATURE THE WEEKLY GLEANER | OCTOBER 19 - NOVEMBER 19, 2020 | www.jamaica-gleaner.com | 7 ‘It’s still a good time to invest in real estate in Jamaica’ JN BANK