NEW CRU MAKING NAME FOR
& REIC IN CARIBBEAN
You may think having a
career in the Caribbean would be all fun in the sun- yet it’s not.
Just like Vancouver, Toronto, Halifax or Montreal it requires hard
work and determination to establish an individual's career.
Jasmine Eddy is one of those individuals.
Eddy was born in the Parish of St. George’s, St. Kitts in March 1971
as the second of three children. She cites her mother as a major
influence in her life – staying at home to successfully raise three
At the age of 17, she left school and took a job as a sales clerk at a
record and book shop. However, she did not wish to settle and within
two years was working with the Development Bank of St. Kitts and
“The banking industry was never my first thought in terms of a career.
However, just like anything else, it started as innocently as a job
opportunity. And I soon developed a passion in this arena, and
craved more exposure in the Financial and Real Estate Industry.” Eddy
still employed at the bank, Eddy continued to receive education at
local schools and colleges before enrolling at the University of West
Indies where she earned a BSc with honours in Business Administration
during the fall of 2007.
With her degree behind her, Eddy continues to strive for education.
She currently is pursuing her MBA in Business Administration with a
specialty in Finance at the Heriot Watt University in Edinburgh.
It is her passion for Education that drew interest in the Real Estate
Institute of Canada and resulted with successfully earning her CRU
designation June 2007.
“Earning my CRU and
becoming a member of the Real Estate Institute of Canada was due to
the fact that I realized that my future job prospects would be
radiating. This designation allows me a future on my own as a
Certified Residential Underwriter.”
While earning degrees and designations, Eddy continued climbing the
ranks at the bank she started at close to 18 years ago. Today she
holds the position of Senior Loans Officer, a roll she savors.
“The most satisfying aspect of my job is being able to look at
projects and determine whether or not they would require additional
financing, refurbishing or demolishing and re-constructing.”
When asked about homes sales in St. Kitts & Nevis and how they compare
to North America, cost is one factor that doesn’t appear to vary as
one may have expected it to do so.
“Real estate prices in St. Kitts & Nevis are quite
reasonable in comparison to the price of oceanfront property on the
U.S. coastline, or on other similar Caribbean islands. While the
minimum investment is likely to be approximately $250,000 (US), you should expect to spend at
least $300,000 (US) for a quality-built single-family home in a
well-tended residential estate. For an additional $100,000 (US) you
can purchase a substantial villa with its own swimming pool.”
If someone considers
buying property in the islands they should keep in mind the extra
costs that can quickly add up. “In addition to the initial purchasing
costs, you should budget about another 9% to cover real-estate
transfer taxes, conveyance fees and title insurance. Furnishing your
home will also be an additional expense. However, all furniture and
fittings can be imported duty-free, and while there are no personal
taxes in St. Kitts & Nevis, there is an annual 5% tax on the rental
value of property based on an assessment of its annual rental value.
This tax rarely exceeds US$1,000/year, and if you do rent out the
property, your actual rental income is tax-free.”
Eddy strongly urges anyone who is interested in purchasing real estate
in the islands to consult a specialist.
“The circumstances are
always different in each scenario and not all real estate in St. Kitts
& Nevis is considered as a qualifying investment for purposes of
acquiring economic citizenship."
The most popular aspect of the real estate market in the Caribbean at
the moment is condo sales, according to Eddy. The outlook of the
industry also looks good for the islands. “The pace of change in new
homes will be much faster over the next 10 years than in recent years,
and buyers can expect that all homes will be significantly "greener"
and more resource efficient than today.”
With a promising outlook like that, Eddy should continue to be busy in
her career for quite some time.
Top of the Page
The National Staff would like
to wish you and your family a very Happy Holiday Season. We say
thank you to all of our
members for helping turn 2007 into such a positive year. We look forward
to making 2008 an even better
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2008 Annual Meeting and IREM Leadership Conference are scheduled for May
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details about this
fabulous event become available.
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Calgary Real Estate Board 2008
Conference and Trade Show
Wednesday January 16, 2008
The Calgary Roundup Centre
Century 21 Kickoff 2008
Monday February 4,
The Toronto Congress Centre
February 13 & 14, 2008
Vancouver Convention & Exhibition Centre
Ontario Real Estate Association
2008 Leadership Conference
Thursday February 28,
The Sheraton Centre Hotel
Be sure to visit the REIC booth at each
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