Jamaica Austerity 2013
Jamaica’s housing market ended 2013 under the weight of IMF austerity, with commercial mortgage rates holding at 11–14%, NHT benefit transfers under scrutiny, and a housing deficit of roughly 100,000 units showing little sign of narrowing. Our monthly review covers December 3, 2013 to January 2, 2014.
Jamaica’s housing market ended 2013 under the weight of IMF austerity, with commercial mortgage rates holding at 11–14%, NHT benefit transfers under scrutiny, and a housing deficit of roughly 100,000 units showing little sign of narrowing. Monthly review for December 3, 2013–January 2, 2014.
Jamaica clears its second IMF quarterly review as the fourth quarter begins, but the housing market remains locked by high rates, constrained NHT output and stagnant real incomes.
As the Bank of Jamaica begins edging its policy rate lower, Jamaica’s housing market watches for a trickle-down to commercial mortgage costs. Supply constraints persist.
With Jamaica’s first IMF quarterly review complete, housing market conditions remain constrained as NHT loan limits, high commercial rates and scarce supply test buyer resilience.
Programme’s First Full Quarter: Jamaica’s Housing Market Enters the Age of IMF Austerity — July 2013
As Jamaica completes its first full quarter under the IMF Extended Fund Facility, housing output slows and NHT faces structural pressure from Consolidated Fund transfer obligations.