Hip Strip

The Hip Strip (Gloucester Avenue) is Montego Bay's tourist nerve center, running along the waterfront past Doctor's Cave Beach, Margaritaville, restaurants, duty-free shops and nightlife. It is walkable, energetic and the most rental-liquid micro-market in the city, where studio and one-bedroom condos turn over reliably on short-let platforms. For investors prioritizing occupancy and nightly rate over space, the Hip Strip is unmatched: beachfront and near-beach condos run from roughly US$170,000 to US$500,000, around US$300-$420 per square foot, with gross short-let yields of 7-9% in peak years given premium tourist demand. Appreciation is steady at about 6%. Foreign buyers acquire freehold with 2% transfer tax; strata/condo management fees should be factored into net returns.

Hip Strip in Montego Bay, Saint James Parish, Jamaica