Is there a healthy rental market in the area?
Yes. A rental guarantee is provided through McMullen’s who will manage, promote, maintain and act as letting agents for the site. Occupancy rates for similar properties in the area run at an annualised rate of 80%. This is an exceptional rate for both high and low season. Additionally tourist numbers are rising. There was a 22% rise in tourist spend for the last year figures are available.

What rental income should I expect to receive for my property?
A 3 year rental guarantee is provided. Following the completion of the rental guarantee period McMullen’s conservatively estimate that a 7% rental guarantee will be the norm for all properties in the development. A unique rental pool is also available whereby overall rental revenues are pooled equally among all participating properties.

What type of property is available?
All properties are 1030 sq ft fully furnished 2 bed apartments with balconies and sea views in a 2 up / 2 down block.

How many phases of construction are there and when are they due for completion?
Phase 1 comprising 16 apartments will be completed Oct – Dec 2008. All 3 phases will be completed by October 2009.

Are there furniture packs available?
An extensive quality furniture pack in keeping with this boutique resort is available and included in the purchase price.

Are the kitchen appliances included?
All white goods are included in the purchase price. McMullen’s will ensure that the property is fully kitted out to a high standard to meet the tourist demand for the area.

Is there satellite TV and internet access?
Yes.

How secure is my property?
Onsite security is provided and the cost is included in the annual maintenance agreement.

What is the maintenance fee?
There is a fee of USD$1,500 per annum for the maintenance and upkeep of the common areas of the McMullen’s Village development. This figure also covers onsite security.

Is air conditioning provided? Air conditioning is provided as standard. Are there parking spaces? There are ample parking spaces within the development. Is the apartment freehold? Yes. Can I buy more than one unit? Yes.

As a non-resident, are there any restrictions on home ownership?
None. Non residents are very welcome in Jamaica.

What is the Capital Gains Tax?
There is no Capital Gains Tax in Jamaica and there are No restrictions regarding the repatriation / movement of profits. Advice is available regarding country of origin tax implications.

Are investors welcome?
Investors are very welcome in Jamaica. PriceWaterhouseCoppers recently commented that “The Jamaican Government and people welcome investors. The country’s deregulated economy and free market orientation, make it an inviting and dynamic choice for investors”. (www.pwc.com)

Can I get independent legal advice?
McMullen’s have already agreed a deal with an independent legal adviser based in Jamaica to deal with our customers legal queries and have arranged a discount for clients should they avail of this service. The cost of this legal advice is included in the purchase price. Alternatively we can recommend legal advisers in Jamaica whom you may wish to deal with. The cost of independent legal advice is not included in the purchase price.

Is it possible to finance the purchase?
Yes. McMullen’s have arrangements in place with an International Financial Group who can provide mortgages to clients who wish to take out a mortgage against their Jamaican property. There is no need therefore to take out a mortgage in your home country against existing property.

Rental fees
McMullen’s will maintain, clean, market and let your property on a weekly basis thus maximising the return on your investment. A set fee will be charged for this service and is separate to the annual communal maintenance fee.

What is the reservation process?
Once you have chosen your unit a deposit of $5,000 is paid. Usually 4-6 weeks later, upon signing of contracts the balance of 30% of the purchase price is required upon contract signing. The remaining 70% of the purchase price is due at completion of the property.

What currency are the payments made in? All transactions are in US dollars (USD$). Because of the historical weakness of the US dollar against European currencies such as the EURO(EUR€) and STERLING (STG£) it is to the benefit of investors to purchase property in US dollars. How do I make payments? Payments can be made by electronic transfer from your usual bank. Because McMullen’s have offices in the UK, Ireland and Jamaica you can always make your own arrangements with us locally.

Who is the Management Company and do they have a track record?
The Management company is McMullen Properties, led by Anthony McMullen. They have many years property experience in Ireland and abroad. They also have offices in the UK and Jamaica. McMullen’s partners in the Cousins Cove development include Letterstone (www.letterstone.com) and IRTP Holding Ltd (www.irtpholdings.com). Both Letterstone and IRTP have extensive property development experience in projects as diverse as Slovakia, Bulgaria, Croatia, Hungary, Germany and throughout the Caribbean.

Should I wish to take a holiday in the Caribbean can I, and will it affect my rental income?
Our rental guarantee includes a 2 week high season holiday at a time of your choosing. Jamaica has a summer which lasts 11 months so you have plenty of choice when you want to visit. You can of course take a longer holiday but this will reduce your rental return accordingly.

What are the benefits of buying off plan?
The biggest benefit of buying off plan with McMullen’s versus other properties is that we have already started construction and will complete some of the first phase apartments in 2008. Therefore the normal benefits listed below still apply without the concerns some investors have, through previous experience of delays to the development, or in some cases where the development never goes ahead. For an update on the developments progress please visit www.mcmullensvillage.com.

Where is Cousins Cove? Cousins Cove is located between the world famous Montego Bay and the luxury beach resort of Negril. The development is approx. 50 minutes drive from the Sangster International airport in Montego Bay and only 10 minutes from Negril. How do I get there? Direct flights are available with BA, Air Jamaica and Virgin Atlantic all fly direct from the UK to Jamaica, primarily to Montego B ay International Airport. UK Tour Operators such as First Choice, Thomson and Thomas Cook have regular charter flights to Jamaica. European tourists also have the option of flying through Amsterdam or alternatively through the many US hubs serving Jamaica such as New York, Chicago and Atlanta. Some of the US Airlines serving Jamaica include, Delta, US, United and American.

Entry requirements
All US, UK, Irish and most EU citizens do not require a visa to holiday in Jamaica. Passports are the only requirement.

Are there any well known brand names on the island?
The world famous Sandals is probably best known but there is an abundance of exclusive resorts from Ritz Carlton to the soon to be developed ‘Goldeneye’ resort, to the Tyrall Golf Tennis and Beach resort (Johnny Walker Gold Classic). Other global hotel groups, such as Iberostar, Bahia, RIU and AM Resorts which would be familiar to those who have holidayed in Spain are all present in Jamaica. In addition the worlds biggest and most luxurious cruise lines visit or are based in Jamaica such as Princess Cruises, Royal Caribbean and Aida Cruises to name just 3.

Local Language Jamaica is the largest English speaking island in the Caribbean. Jamaican Legal System The law is conducted in English and Jamaican law is based on UK law. Currency The official currency is the Jamaican dollar. The United States dollar is widely accepted. Government Jamaica has a stable constitutional parliamentary democracy.

Time Zone
Jamaica is on Eastern Standard Time (EST), 5 hours behind Greenwich Mean Time (GMT). Jamaica does not observe daylight savings time as Summer lasts approx. 11 months of the year.