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New Benefits For National Housing Trust Mortgagors
Speaking yesterday, during his contribution to the 2010/2011 Budget debate at Gordon House in Kingston, Prime Minister Bruce Golding announced a number of new and improved benefits for National Housing Trust (NHT) mortgagors. The new benefits, he said, come against the background of the prevailing harsh economic climate facing Jamaica, and become effective on May [...]
Continue reading...Condominiums To Be Built On Beach-Front Property In St. Mary
14. April 2010
Treboeth Developers, a United Kingdom-based company, will reportedly be investing approximately US$11 million in the construction of 32 condominiums on a beachfront property in Tower Isle, St. Mary. The development will be called Whispering Seas, and construction is scheduled to start in September, 2010. So far, the development has reportedly got the nod from several [...]
Continue reading...Government Announces Property Tax Hike
31. March 2010
While speaking in Parliament yesterday, Finance Minister Audley Shaw announced a whopping hike in Jamaica’s property tax rates effective tomorrow, April 1. The increase will see the flat rate (applicable to property with unimproved value up to $300,000) move from $600 to $1,000. Rates in respect of property with unimproved values exceeding $300,000 will attract [...]
Continue reading...Parliament Approves New Strata Fees
22. March 2010
Parliament has approved new regulations to the Registration (Strata Titles) Act, which provide for an initial registration fee per strata lot of $400-$500, and an annual registration fee of up to $12,000. The Strata Act was signed into law by Governor General Sir Patrick Allen in December 2009, but the regulations were passed in the [...]
Continue reading...$3b Country Club To Be Built In Negril
20. November 2009
Developer Robert Cartade is reportedly scoping out the market before finalizing plans for what is estimated to be a $3-billion country club estate development in Negril, with homes targeted at hotel executives, professionals and foreign buyers. Cartade and Andrew Girod have reportedly established a subsidiary operation – Selective Homes Negril Limited – to manage the [...]
Continue reading...Longville Phase III & Bushy Park Schemes Coming To Clarendon
8. November 2009
Six years after the National Housing Trust (NHT) developed and sold houses and serviced lots at Phase II in the Longville Park Scheme in Clarendon, residents of that parish are eagerly anticipating the development of Phase III. Work on this phase is to end in May 2011. When complete, Longville Phase 3 will provide an [...]
Continue reading...Jamaica’s Real Estate Market – Where Do We Go From Here
5. November 2009
All of us in Jamaica, especially those of us in the real estate industry are very well aware of the international financial crisis. This, as you may recall, began in the United States in their real estate industry with the collapse of the sub-prime mortgages and then spread like wildfire to the economies of Europe [...]
Continue reading...Several National Housing Trust (NHT) Projects Paused
16. October 2009
Jamaica’s National Housing Trust (NHT) has said that it has paused five housing development projects valued at J$1.3 billion. Why? Difficult topography and infrastructure constraints made the developments too costly. The projects are at Eltham Farm in St. Catherine, Rosemount 5 in St. James, Ridge Estate in St. Ann, Granville in Trelawny, and Cousins Cove [...]
Continue reading...Licensed Real Estate Dealers In Jamaica
26. September 2009
When engaging in a real estate transaction here in Jamaica, always ensure that you’re dealing with a licensed real estate dealer. At any given time, you can see an updated list of real estate dealers here in Jamaica, who are licensed under the Real Estate (Dealers & Developers) Act, by visiting the website of the [...]
Continue reading...National Housing Trust To Build 12000 Houses
16. September 2009
THE National Housing Trust (NHT) will reportedly start construction on 12,000 houses over the next 18 months in six parishes. The total cost will be in the region of J$29 billion. “We think that this is perhaps not the most fantastic initiative undertaken by the Trust but it certainly is an ambitious programme. The challenge [...]
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21. April 2010
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