Month: December 2023

The Jamaica Diaspora Annual Roundup for 2023: the generative AI revolution reshapes economies and workforces across diaspora host countries; the Israel-Gaza war erupts in October and tests international solidarity frameworks; Jamaica’s economy delivers its strongest growth in years; the reparations campaign continues to gain momentum; and remittances remain above US$3.3 billion as cost-of-living pressures ease.

Jamaica closes 2023 as a year of transition rather than transformation: the BOJ’s easing cycle has begun, the property market has responded with improved volumes and the first price upticks since the 2021 peak, and the tourism sector has again delivered above expectations. The question entering 2024 is not whether recovery is underway — it is — but at what pace and in whose favour it will run.

Construction materials theft is one of the most consistently reported forms of property crime in Jamaica, affecting self-build projects, contractor-managed developments, and building supply yards alike. Cement, steel rebar, lumber, roofing materials, plumbing fittings, and electrical wiring are all targets, and the financial impact on individual homebuilders can be severe enough to halt construction entirely.

The NHT has lifted its Housing Microfinance Loan ceiling to almost $2 million and widened eligibility, strengthening a small but vital bridge to ownership for lower-income Jamaicans.

This tale epitomizes resilience, redemption, and the unwavering strength found in community. Picture the devastation of watching your dreams crumble…

Kingston, Jamaica — 19 December 2023 A $2.1-billion residential tower broke ground in Bournemouth Gardens, Kingston 2, on Wednesday, adding…

In an exciting move for Kingston’s real estate landscape, Sherbourne Limited has officially broken ground for its much-anticipated residential project,…

Kingston, Jamaica — 15 December 2023 The National Housing Trust has raised the ceiling on its Housing Microfinance Loan programme…

The UK Leasehold and Freehold Reform Bill cleared its second reading in Parliament, opening a formal debate on ground rent caps, service charge transparency, and the future of property ownership for millions of flat owners. The governance questions it raises are increasingly relevant for Jamaica’s growing condominium and apartment sector.

Property markets globally corrected unevenly through 2023 and 2024, with quality locations proving resilient while secondary markets softened. Jamaica’s own internal differentiation, visible in Kingston’s apartment segment, carries important lessons for buyers, sellers and investors.

Living near top-rated schools has long been considered a key factor in determining the value of residential real estate, not…

Strata owners in Jamaica pay maintenance contributions to their strata corporation to fund the upkeep of common areas, building insurance, security, and shared services. When the strata corporation is mismanaged — through poor governance, lack of financial transparency, or outright misappropriation by officers — the shared property deteriorates and individual unit owners bear the cost.

There are stories that begin not with a blueprint, nor a plot of land, but with a feeling.A pull.A longing…

Publication date: 5 December 2023 | Covering: November 2023 Monthly Briefing BOJ holds overnight rate at 7.00 per cent; December…

December 2023: Jamaica closes the year with a gated community boom and Kingston apartment surge as BOJ holds at 7% and NHT private pipeline matures.