ALL-inclusive Villa Negril Jamaica- We now can start to build your private Paradise
We are proud and excited to share the news. As committed earlier we are building the premier all-inclusive Villa Negril, Jamaica aligned with our vision of eco-sustainable tourism. This was always our dream and a long sought vision. Gosh! Making this come true is still giving us many sleepless nights . It cost us many drops of sweat and a lot of nerves. It is hard work too (and we totally believe it’s worth that). We knew from the very beginning that making our dream come true won’t be easy. We knew even if you have all it takes, you still need time. A lot of time.
The clock ticks slowly in Jamaica, it’s the essence of Jamaican life in general. Jamaicans usually have not a lot of resources. But everybody got a lot of time at their disposal and they know how to make best of it. Do you remember? We had secured the land for our very first all-inclusive Villa Negril Jamaica Project exactly almost one year ago. In this post, we share our long journey – just to receive the land title and to start building the very first ALL-inclusive Villa Negril Jamaica that will promote eco-sustainable tourism.
The first step: Real Estate Agent and the land
Our Real Estate Agent – the owner and seller of the land – was very friendly, we loved doing business with him. A sympathetic guy, very much down to earth. Still, Negotiating the price was quite a job. Financing this land sounded very easy. At least this is what the Real Estate Agent told us, we dreamt it would be a cake walk. But we can tell you – the reality wasn’t that rosy, at the end, it felt that we should not have even tried to go to a local bank.
Mortgage loans in Jamaica
Foreign banks do not finance projects in Jamaica. So you need help from a local bank. Getting first information and offers from them is very time-consuming. Some banks have really weak customer service infrastructure. Some could not find the responsible sales representative. Some did not even bother to reply.
Just to make you aware – after sending the banks tons of papers. All papers, even non-formal documents had to be in English. Bad news if you come from a none-English speaking Country. Even as a customer, it is your responsibility to serve local Jamaican banks with translated documents and all notarized as well.
Finally, we’ve received two offers. One from NCB (National Commercial Bank Jamaica Ltd.) and one from JNBS (Jamaica National). Jamaica National was cheaper than NCB. But “cheap” is absolutely the wrong word. A mortgage loan in Jamaica is very expensive (compared to any developed country bank loan). Of course, you should not compare different economies but as we were used to Swiss mortgage loan rates of actually 0,7%, the JN offer was 9,5% for private and 20% for a company loan. In our case, this meant that the loan would double our investments. It took us a 1-minute decision, not to go for a mortgage loan. We simply decided to get the money in cash, from our private account.
Getting the Land Title process
This will bring us back to Real Estate Agent promises. After signing tons of papers, twice at the Notary, we were told that transferring the title will only take a few days. It took much more that, Three months in our case.
The very positive aspect of a Jamaican Land Title is, it is 100% secure and yes, the National Land Agency of Jamaica is one of the most developed, globally. You can even watch the transfer process online. eLandJamaica gives you a great overview of properties that you can buy. Documents can be tracked online and everybody, really everybody can buy land, without any restriction. The only thing you need is a Jamaican Taxpayer Registration Number (TRN). You can get this easily within a few hours in the nearby tax office in your parish. The land tax rate in Jamaica is very low. Property prices are increasing annually. So, investing in Jamaican Real Estate is a not just a smart but also a safe investment.
Finally – We’ve received our Land Title
Yes, dude we got it! (time to celebrate) Last week we finally received our Land title (August 2016) . The project – ALL-inclusive Villa Negril Jamaica – is ready to get started. We are proud to show you our property and our first design ideas. A customer survey held last year we came to know that 90% of our clients loved the concept and the complete Idea. You can give us your valuable feedback and tell us how you feel about it. We are always happy to hear from you.
So here it is, the concept of the premier ALL-inclusive Villa Negril Jamaica:
The Design Blueprints
Right side elevation plan.
Tropical gardens to enjoy yourselves at Negril Estate.
Before we can start the Construction
We have our own in-house architect. But you need a parish council approval. But this you can only get if you work with a registered Jamaican architect. We are trying to find the right partner through Jamaica’s Architects Registration Board . We hope to find the right partner to go ahead within this coming weeks.
Follow us on our journey, share your views. We will keep you updated on every single step on our way, building your premier ALL-inclusive Villa Negril Jamaica. Register to our Newsletter or claim the blog post subscription below, to get future updates.
And of course… We still need a lot of money to realize your private paradise. If you like to support us, then please make a donation here.