$7M got you this in 2007, now its $20M | Tour of The Caribbean Estates, Portmore
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- čas přidán 16. 07. 2022
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Great video, love the idea but please remember in 2007, $7mil was a lot of money for a house... In 2007 the NHT loan limit per applicant was $1.5mil. Therefore, two applicants combining their benefits would only get $3mil and would have to find $4mil to cover the balance...
And even that 4mil gives you a mortgage of nearly 80,000 per month. How many ordinary Jamaicans could afford that?
Thats true. So for each step of the way, things are basically the same. So u cant really fairly compare the prices now to the prices then
I stayed in Caribbean Estates last year when I came to Jamaica for a funeral. When my American friends saw pictures, they remarked that it looked like Florida!!
People should also take into consideration of inflation, so if you bought for 7M in 2007, it cost USD $101,390 (2007)
Now in 2022 that same 20M would cost you USD132,047.19. HOWVER That same $101,390 USD (in 2007) would be worth $144,895.74 in 2022. Stay woke yall!!! Inflation inflation inflation.
Beware of nominal confusion. ITS NOT THAT THE PRICE IS INCREASING. ITS THAT OUR PURCHASING POWER IS DECREASING. GIVING THE ILLUSION OF PRICE INCREASE
& not to take away from your video, I think real estate and investing is important however we need to be aware of these things
You are not factoring casflow which can be infinite return
Yes, this is true. Also supply and demand. Even though a person maynot be able to afford it there are a 100 more who can. Hence why here in the Uk London the outskirts of London were more affordable than London itself as London is a hotspot location being the capital also for work but with easy to commutes to London the outskirts have now gone up even faster than some London boroughs. Hence why places like ocho rios has seen higher increase in growth. Seeking homes is lovely but people need not forsake to seek YaH our God first. Him first before all. Then everything else after. 🙏🏾❤️
Your analysis is spot on.👍🏾
You are so correct I like this post... You can't just use an amount to justify affordability in current days
@@jak50cent Yes cashflow can be infinite, but they specifically said that is 3x return on our money BASED ON EQUITY and that is just false. You actually would've lost 10K in equity but if you were renting throughout that entire time and made over 10K then, ONLY then, have you made profit.
Plus many people buy their homes to live in, not too profit.
If you can identify a house that selling for $20mil now please contact me because the last time I checked they're selling for 27-30 millions and I'm speaking of the two bedrooms.
Colbeck Manor Vista: $20m plus 10% escalation.
Caribbean Estate to be exact
You mean 30mil up as of today and that house has no improvement to it in Caribbean Estate.
You can still find houses I'm Portmore for under 20Mil but not gated communites
@@marciabuchanan-blair776 If you are quick when they pop up you can get a 2bed 1bath 675 square feet in Pheonix Park Village for 17mil.
Portmore definitely has grown since I lived there. It's nice to see the progress.🇯🇲
Always a lovely community. Peaceful. Love it
Always great information thank you fam
Great video. The community is peaceful.
Love love your content bless up🙏🏽💕
Thanks for the tour
Welcome!
I would buy a piece of land in the country side and build my little house cheaper and plants my garden prices to ridiculous
Nuff respect to your channel blessings to you and your beautiful family ❤️❤️👍
Right! All that money just to have neighbors north, south, west and east!!
Good Job guys. Bless up
One of my favorite community , would like to live there
nice video, love it
You guys is so right ✅️
That’s great returns, buy and hold is the best long term safe investment
That community looks great and was definitely well planned. My issue with most of the newer ones is that the amenities they have was too small or not enough for the entire community. Eg. saw one that was advertised to be about 450 (? I question that amount) homes and only had one recreation area, so one tennis court, one basket ball court, one gym and a swimming pool that was a decent size fir someone's backyard... at least if it is one pool... make it Olympic size.
Thanks for another great vlog Delpratts 👍🏼
The reality is most times people don't even use the amenities onless an event I planned. They stay in their house and play with their phones. I see it everyday
@Delroy Campbell that's exactly what I was going to say, we want the amenities but don't use them and when we don't have adequate amenities we complain...I see many communities where the amenities are just there as eye candy
Love your content bless up from Cali
🙌🏾🙏🏾🙌🏾🙏🏾
Love the video
Thanks for showing me this community have family living there but never being.
I love ❤️ it
Airbnb much safer than hotel now because people loosing there life in big hotels now, when u go to Airbnb is ur immediate family around u so u are much more comfortable last time I go to a 5 star hotel in Jamaica I loose my money out of my room and when I went to the front desk I did not get any justice.
Play area need some attention
That’s true
Lol😂
Taking inflation into account the value hasn’t really gone up.
Wow crazy🤔
Portmore country club next .....
Are there any available houses in Phoenix Park?
Hi family happy Sunday
Development started in 2005 at 4.6 millions and houses are going between 20 millions to 25millions now. Yes 2005 was the year to grab these houses but remembered too nht money was only 3 millions that one person could borrow if qualify.
Bear in mind the 1 usd was 66 Jmd in 2007
The First set of houses where selling for 4 million dollars then after it went up to 7 million
The first cluster was finished probably around 2003 then the second cluster finished 2005 . I know the second cluster sold for about 4.5mil and that depended on the lot size.
It's good the value increased. It keeps crime out.
I wonder how much is the maintenance fee per month?
Is this a similar set up as Country Club near by.
Yes similar
The houses actually started at 4.5 million
The price two bedrooms going for is 28 - 30 million
Wow
🇯🇲🇺🇸💯💪🙏👍👏🇯🇲
Any house for sale here?
The issue is most of the homes are now being priced in USD and there's a 0% chance payng $300-500k usd for a 2 bedroom is going for 1 million 10 years from now, if anything it reduces in value. Basically, make sure not to buy overpriced property just because your realtor tells you a lie that real estate always goes up no matter what.
These prices in JA are crazy. You can buy 3 homes on another island for that
@@nesq4104 agreed!
My wife's sister has one with an additional 2 bedrooms 2 bathroom apartment. It's on the market for $38,000,000.00.
She lives overseas now.
Good day how much bedrooms the apartment hss please)?
The original 2 bedrooms 2 bathrooms apartment and the aforementioned addition.
Hi is this still available
20M?????? when you find one for that price give me the link. they are selling for 40m
They do pop up for that price from time to time but you have to be lucky
@@TheDelprattFamily true
From 7 million to 20 million inflation all over next 20 years 50 million jamaican 🇯🇲 dollars
Nice. But not the north coast
Don't forget newly opened price mart and 100 man police station
Hello guys
I might be the only one, but I don't like gated communities.i fell caged in and don't like cookie cutter type houses,but to each his own.
What's the maintenance fee like??
Not sure about Caribbean Estates but a similar community done by the same developer in Caynanas Estate is $7,500.00JMD monthly.
It's about 5,500 now but the price increase annually.
It used to be the cream of the crop in Portmore.
Not anymore!
It has changed badly! My sister-in-law is selling a 4 bedroom 4 bathroom one for J$38,000,000.00
How has it changed?
@@shelly-annrennie5378 I would like to know how it has changed as well. Everytime I visit Caribbean Estate it looks the same,it is well kept and really quiet.. One thing that I have noticed is that there are more children around, back in the early days you would have to search hard to see a child playing outside.
If it is no longer " the cream of the crop" why should I take it off her hands ( buy it) for J 38 - J 40 million??
@@karleinegraham446 Go to Waterford, Gregory Park, Southborough, or Cumberland, etc. then, they have some for J$5,000,000.00 - $8,000,000.00. You probably can afford those areas.
explain y it isnt cream of the crop now
No pool ? That play area need fix up.
Why would you have a pool in a children's play area?
Rip off. Estate
The play ground need landscaping it’s too dusty
𝓟Ř𝔬𝓂𝔬𝐒ϻ ☀️
A house in Caribbean Estate is now selling for 30mil. This unit has no improvement.
For a unit like this, you will need a new kitchen for sure. Just trying for you guys to get the picture of a well-done regular 2-bedroom home in this community. See one such unit MLS-58592