Jamaica Real Estate 2022

Jamaica’s construction sector confronts its worst cost crisis in decades as Ukraine war commodity shocks combine with BOJ rate hikes now approaching 5 per cent.

The Ukraine war drives steel prices up 30% in weeks, threatening Jamaica’s construction cost crisis just as the BOJ accelerates its rate tightening cycle.

NHT reform passes Parliament in February 2022 as Russia invades Ukraine in the final days, signalling a potential commodity cost shock for Jamaica’s construction sector.

Jamaica opens 2022 with inflation at multi-year highs, BOJ tightening underway and construction costs climbing — testing property market resilience across all segments.

Jamaica’s property market closes 2021 with resilience intact, but rate hikes, rising build costs and supply shortages loom large over the new year ahead.