Jamaica’s pandemic property boom opened doors for some buyers and created expensive commitments for others. Years later, the real measure of homeownership may be less about rising prices than the lives people can afford to lead.
Across the Caribbean, property markets are moving at very different speeds. Yet from Kingston to Bridgetown, Georgetown to Nassau, one problem increasingly unites buyers: the amount paid for a house is not necessarily what that house will ultimately cost.
A new national rental database will make landlords and properties easier to identify. Jamaica already requires rented premises to be registered, but the information remains far less visible.
Jamaica cannot persuade more homeowners to insure their properties while policyholders wait nearly a year for claims to be settled
Jamaica’s churches possess land, history and influence. The question is whether those assets are being protected and used to meet the country’s urgent needs.
Property Market
Jamaicans are spending millions buying apartments without always knowing the financial condition of the buildings they are entering. Behind the security gates lies an…
A St Ann’s Bay court has ordered the Urban Development Corporation not to block public access to Little Dunn’s River while a lawsuit over customary rights is heard. The corporation says it will comply but its lawyers plan to challenge the ruling.
Falmouth’s Mayor has urged Trelawny residents to stop backyard burials over water and drainage risks. Graves on private land can also affect valuations, sales and access to mortgages.
Insurers have paid J$54.35 billion on Hurricane Melissa claims, but only about a fifth of the property money has reached homeowners. The figures show how thinly Jamaica’s housing stock was insured when the storm struck.
Mortgages & Money
KINGSTON, Jamaica — When Bank of Jamaica raises interest rates, a familiar fear quickly follows: mortgages are about to become…
RENTING
There is an uncomfortable truth about Jamaica’s property market. If you are looking for a house or apartment renting for J$250,000 or J$300,000 a month, there…
