In April of this year, the Minister of Finance and the Public Service – Audley Shaw – announced in Parliament that effective January 1, 2010, stamp duty would be reduced from 4.5% to 3%, and transfer tax from 5% to 4%. This was seen as an effort to help boost Jamaica’s ailing real estate market, [...]
Posts from ‘July, 2009’
Jamaica Real Estate Market Becoming Buyers Market?
Is Jamaica’s real estate market becoming a buyers market? According to an article in today’s Jamaica Gleaner newspaper, it is, and properties are now staying on the market longer and buyers can, in some locations, cherry pick for bargains. More here.
National Housing Trust (NHT) To Offer 40 Year Mortgages
The National Housing Trust (NHT) will reportedly lengthen the repayment period for its mortgages from 30 years to 40 years, as well as allow borrowers to carry their debt up to the age of 70. This policy shift is reportedly being rolled out now, and will increase the number of people eligible for its loans [...]