Oil crashes below US$70/barrel after OPEC holds production. Jamaica stands to be a major beneficiary as construction costs, electricity bills and inflation all face downward pressure.
OPEC’s November 2014 decision to hold production as oil falls below US$85/barrel marks a potential turning point for Jamaica’s energy-heavy construction and housing costs.
IMF fiscal adjustment squeezes Jamaica’s housing budget as oil prices slide lower in September 2014, offering early signs of relief for construction costs and household energy bills.
Jamaica’s housing sector faces stiff headwinds as commercial mortgage rates hold above 10%, buyers lean on NHT, and IMF fiscal discipline constrains public investment.
