Jamaica history

Jamaica’s housing deficit hits 130,000 units by 2024, says PIOJ. NHT-backed schemes like Caymanas target low-income families. Private developers pivot…

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.

The third quarter of 2023 unfolded against a backdrop of unusual meteorological and monetary convergence: the development of a strong…

The Bank of Jamaica delivered the rate cut that the property market had been waiting for since early 2023, initiating what observers expect to be a multi-quarter easing cycle. The response was immediate and visible: buyer inquiries accelerated, pre-qualification requests increased at commercial banks, and the sentiment that had been suppressed by two years of monetary tightening began to shift toward re-engagement.

GDP grows 4.0% — the second consecutive year of recovery growth, sustaining momentum even as global conditions deteriorateInflation reaches 10.2%…

Spring 2023 delivered another quarter of tourism performance that exceeded pre-pandemic benchmarks, as the United States economy’s surprising resilience in…

Jamaica’s property market at the midpoint of 2023 presents the portrait of a sector that has settled into a high-price, moderate-volume equilibrium that serves neither the buyer seeking value nor the vendor seeking speed. Prices remain near their 2021 peak levels, transaction volumes are below their 2021 peak but stable, and a BOJ that has not yet cut rates keeps the qualifying pool for new buyers narrower than the latent demand would suggest.

The opening quarter of 2023 delivered Jamaica’s strongest winter tourism season in memory: stopover arrivals through January, February and March…

Jamaica’s agreement with the IMF on a Resilience and Sustainability Facility arrangement in early 2023, providing access to approximately US$764 million in climate-linked financing, has reinforced the sovereign credibility framework that has underwritten property market confidence since 2013. But credibility, however robust, cannot on its own solve the affordability crisis that elevated prices and sustained high borrowing costs have created in the KMA’s entry-level residential segment.

Jamaica closed 2022 on a considerably more settled economic footing than the year’s inflationary shocks had made possible six months…

Round Hill and Tryall have anchored Jamaica’s luxury market since the 1950s. Top north coast villas reached USD $5–15 million…

Jamaica’s property market closes 2022 having resisted the correction that a combination of rising mortgage rates, elevated prices, and reduced buyer capacity had made plausible. Prices across the KMA are broadly flat on the year, the BOJ’s tightening cycle has reached or is near its terminal rate, and a tourism sector that has exceeded its 2019 record provides a floor of confidence beneath the market’s cautious surface.

The third quarter of 2022 was among the most symbolically charged in Jamaica’s post-independence history. The island celebrated sixty years…

Jamaica’s residential property market has entered a holding pattern that reflects a rational response to irrational conditions: prices too high for the available buyer pool at current rates, rates too high for the qualifying income of the available buyer pool at current prices. The result is a market in stasis — not falling, not rising, but waiting for one of those two variables to move.

New Fortress Energy’s Montego Bay Bogue terminal delivered first gas to Jamaica’s north coast in the second quarter of 2022,…