Jamaica housing market 2023

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.

November 2023: Year-end transaction activity builds, Kingston apartment demand intensifies, and VM Group reports 25% jump in diaspora mortgage originations.

October 2023: Luxury transactions surge while commercial mortgage costs keep middle-income buyers under pressure; NHT GPP pipeline advances.

September 2023: BOJ holds at 7% as inflation eases, but commercial mortgage rates keep affordability tight for buyers outside the NHT system.

August 2023: NHT delivers Majesty Gardens Phase 1A keys as its private-sector pivot accelerates; BOJ holds at 7% amid easing inflation pressure.

Jamaica’s housing market opens the second half of 2023 with a defining shift: young professionals driving NHT loan uptake as BOJ holds rates at 7%.