KINGSTON, JAMAICA – June 30, 2025 — From the rising cost of borrowing in the United States to geopolitical instability in Europe and a growing trend of remote work around the globe, the international climate is doing more than just shifting financial markets. It’s quietly—but significantly—reshaping how real estate is priced, perceived, and purchased in Jamaica.
What does this mean for sellers in Montego Bay or buyers in Mandeville? That the value of Jamaican property is no longer determined solely by what’s happening on the island — but by the tectonic shifts happening across oceans.
And in a market like Jamaica, where real estate has always carried emotional, cultural, and generational weight, this new reality is forcing both sellers and agents to recalibrate.
“We’re not just selling homes anymore. We’re pricing against inflation, migration, currency shifts, and lifestyle evolution,” says Dean Jones, Realtor Associate at Coldwell Banker Jamaica Realty and founder of Jamaica Homes.
“Every global tremor now touches our local terrain.”
US Mortgage Rates and Currency Play: The Diaspora’s Double-Edged Sword
In the United States, mortgage rates remain stubbornly high. As of June 2025, the average 30-year fixed mortgage rate hovers near 7.2%, slowing home sales and chilling buyer enthusiasm in key US cities like Atlanta, New York, and Miami — all strongholds of the Jamaican diaspora.
But while this influx of foreign currency is helping to buoy Jamaican prices, it comes with consequences. Sellers are increasingly tempted to overprice properties, assuming diaspora buyers will pay anything for a sea view and a mango tree.
Yet, buyers are cautious.
“Diaspora buyers are price-conscious. They’re comparing what JMD 50 million can buy in Jamaica versus in Panama, Costa Rica, or even parts of Georgia,” Jones explains.
“Assuming they’ll bite without due diligence is a dangerous illusion.”
AI, Remote Work and the Rise of the ‘Global Digital Nomad’
One of the most unexpected trends boosting Jamaican property interest is the global pivot toward remote work and location-independent lifestyles. Fueled by AI productivity tools and a shift in corporate flexibility, 2025 has seen an uptick in professionals choosing to live in warmer, slower, and more culturally rich places — like Jamaica.
Google’s latest Remote Lifestyle Survey (May 2025) found that 1 in 4 North Americans aged 28–45 are actively exploring living abroad within the next two years. Jamaica ranks in the top 10 destinations for its climate, language accessibility, and affordability (relative to North America).
“It’s no longer a luxury mindset; it’s a practical one,” says Jones.
“A tech worker from Toronto can now live in Treasure Beach, work for a US firm, and still enjoy high quality of life — for half the cost.”
This demand has led to increased competition in once-sleepy pockets like Portland and South Manchester. And while this boosts prices in those areas, it also skews seller expectations across the board — even in less popular zones where demand hasn’t followed.
Jamaican Pricing Caught Between Aspirations and Inflation
Back home, inflation has hit Jamaicans hard. From the cost of building materials to basic household expenses, the local cost of living continues to rise, squeezing both renters and first-time buyers.
And that has direct implications on pricing.
Local buyers are either retreating or borrowing more — often at higher rates. So while international demand pushes prices upward in some areas, local market activity is slowing. It’s a double-speed market: hot in expat-heavy regions, cool where average Jamaicans live and work.
This disconnect creates what economists call “phantom value” — where prices rise on paper but listings stagnate due to affordability mismatches.
“A house in St. Catherine might list for $50 0r 60 million JMD, but sit for months because locals can’t afford it, and foreigners aren’t interested,” explains Jones.
“Sellers then blame agents, but often it’s the pricing — not the marketing — that’s off.”
Lessons from the Past: History Repeats with a Global Twist
Jamaica has seen pricing mismatches before. In the early 2000s, during the foreign investment boom tied to hotel and villa development, prices in areas like Negril and Runaway Bay spiked. Locals were priced out. Then, after the 2008 global crash, many of those same properties lost value overnight.
Now in 2025, a similar cycle threatens — but this time, the drivers are remote mobility, global economic instability, and digital wealth.
“We must remember the lessons of 2008,” Jones cautions.
“When pricing outpaces real, sustained demand, correction always follows.”
Geopolitics, Gold, and Global Currencies: How World Events Shape Jamaican Pricing
Far beyond Jamaica’s shores, events are shaping our market in unseen ways:
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The ongoing conflict in Eastern Europe continues to destabilize oil prices, which in turn raises shipping and material costs — including for Jamaican construction.
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The US dollar remains strong, making Jamaican property attractive to foreign buyers — but vulnerable to sudden currency shifts.
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Gold and crypto volatility has led wealth managers to advise clients to “buy real estate in emerging markets” — again fuelling short-term demand that may not sustain long-term pricing.
This influx of capital has led some sellers to believe that their house in Clarendon should fetch $40 million JMD — simply because someone else’s did in MoBay.
But Jamaica’s property pricing doesn’t rise evenly. Like rainfall in a drought, it falls in pockets.
The Role of Agents in This Climate: Beyond Sales, Into Stewardship
In this increasingly complex market, Jamaican real estate agents must be more than salespeople. They must be interpreters of the world, helping sellers price based not just on square footage — but on geopolitics, migration data, currency strength, and historical patterns.
“Pricing a home in 2025 is like playing jazz — you need to know the rhythm of the world before you can set your own tempo,” says Dean Jones.
He notes that many sellers ignore the big picture. They still believe pricing is emotional. But emotion doesn’t close deals. Evidence does.
Three Things Jamaican Sellers Must Do Right Now
1. Price with Currency Sensitivity
Understand how the USD–JMD exchange rate affects buyer perception. Just because your price looks good in JMD doesn’t mean it feels fair in USD.
2. Differentiate Between Local and Foreign Markets
If your house is in a primarily local area, pricing like it’s a North Coast villa will backfire.
3. Work With Agents Who Watch the World
Choose an agent who understands not just property, but policy. Who can explain why Silicon Valley layoffs might impact a buyer from Kingston 6.
The Bottom Line: Pricing Jamaican Homes Today Requires Global Eyes and Local Wisdom
In this new era, Jamaica is not just a destination — it’s a strategic investment choice for thousands of global citizens. But with that opportunity comes risk: mispricing based on emotion, assumption, or hearsay.
For sellers, it’s no longer enough to “feel” what a home is worth. It must be positioned — in the world, in the market, and in the moment.
“You price to meet people where they are — not where you wish they were,” Dean Jones concludes.
“And in a world this fluid, we must price like we’re part of it — because we are.”
Thinking of selling your home in 2025?
👉 Connect with Dean Jones today for a pricing strategy grounded in global insight and local truth.
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Please note: Jamaica Homes is not authorized to offer financial advice. The information provided is not financial advice and should not be relied upon for financial decisions. Consult a regulated mortgage adviser for guidance.