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National Housing Trust To Build 12000 Houses
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 [...]
Continue reading...Sagicor Pauses Five Real Estate Development Projects
14. September 2009
The downturn in Jamaica’s real estate market, is reportedly one of the reasons behind Sagicor Life pausing five real estate development projects that would have delivered dozens of new homes to the market. The projects are: Seymour Lands development – a plan to build 32 two-bedroom apartments and 23 three-bedroom townhouses on a 4.25 acre [...]
Continue reading...Two New Housing Developments Coming To St. Ann
11. September 2009
Plans are reportedly well under way for the construction of two multimillion-dollar housing developments in St. Ann. One is to be located along the White River and the other on approximately 300 acres of idle land at Britton Ville near Claremont. Both housing developments will be reportedly undertaken by St. Ann businessman Dani Gonzalez, who [...]
Continue reading...The NHT Announces Initiatives To Make It Easier To Own A Home
10. September 2009
At a press conference yesterday at the National Housing Trust (NHT) head office in New Kingston, NHT Chairman Howard Mitchell announced five new initiatives that are aimed at making it easier for Jamaicans to own a home. The initiatives are: Short-term lease arrangement – NHT contributors who are hard-pressed for cash, may enter into a [...]
Continue reading...New Re/Max Franchise Opens In Kingston
31. August 2009
A new franchise, for the international renown Re/Max real estate brand, has been opened at the Winchester Business Centre on Hope Road in Kingston. Its directors are Newton Johnson, David Dixon, Nadia Dixon, Richard Oliver and Faith Downie. This new Re/Max Jamaica franchise, which has 10 agents, is said to be optimistic about foreign interest [...]
Continue reading...Trafalgar Council Objects To Proposed Strata Act Amendment
24. August 2009
The Trafalgar Council, which represents the interests of residents in Seymour Lands, New Kingston, Trafalgar Park and adjoining areas in the capital, has expressed its objection to the proposed amendment to the Registration (Strata Titles) Act of 1969 that was tabled in Parliament on July 22, and is calling for community consultations to take place [...]
Continue reading...Mortgagors: What Happens To Your Contributions Refund?
12. August 2009
“How am I going to manage my payments this month? School fees are due and I still have to pay for Papa’s surgery,” Sasha spoke aloud. “I know. I won’t pay my NHT mortgage this month. My refunds can take care of that and give me some room to breathe.” Not quite so! Perhaps you [...]
Continue reading...Houses Made From Shipping Containers
6. August 2009
Kingston Logistics Centre Limited (KLC) has partnered with Mod Space Limited to provide reasonably priced homes that are created by transforming regular 20-foot and 40-foot shipping containers into high-quality steel-framed accommodations. These high-quality steel-framed structures can be modified to be conducive to an individual’s particular need, and can be used not only for homes, but [...]
Continue reading...Stamp Duty & Transfer Tax Cuts Brought Forward
29. July 2009
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, [...]
Continue reading...National Housing Trust (NHT) To Offer 40 Year Mortgages
24. July 2009
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 [...]
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16. September 2009
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