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.
Posts under ‘Trends’
Mortgage Rates Jump In 2009 Quarter 1
The Bank of Jamaica (BOJ) recently published its Quarterly Monetary Policy Report for the three months ending March 31, 2009, and it indicates that the weighted average lending rate on mortgages jumped from 7.57% at the end of December 2008, to 9.64% for the quarter ending March 31, 2009.
Not a good sign for Jamaica’s real [...]
Inner-City Homeowners Said To Be Struggling
A number of individuals who have benefited from the Inner-City Housing Project (ICHP) are reportedly complaining Jamaica’s on-going financial / economic crisis is making it difficult for them to meet their monthly mortgage obligations at the National Housing Trust (NHT).
Data from the NHT shows the following:
As at December 2008, the ICHP compliance rate was 60%
The [...]