In Jamaica, lawyers are involved in every aspect of a property sale and they generally charge legal fees amounting to 1.50 to 3 percent of the purchase price. Add to this 16.5 percent General Consumption Tax or GCT. In cases where stamp duty has to be paid, the buyer and seller share the cost. Stamp duty is approximately 4 percent of the purchase price. The registration fee, which can be paid at the National Land Agency, is around 0.50 percent of the market value of the property. The seller undertakes the transfer tax and this amounts to 5 percent of the property value. If a real estate agent is involved in the process, their fees can amount to 3 to 5 percent of the purchase price, along with 16.5 GCT.

Our guide takes you through the process of buying property in Jamaica from beginning to end, including an introduction to the real estate market, the buying process and the taxes you will need to be aware of.

Buying Real Estate Jamaica