Saturday, April 7, 2012

Property in Jamaica | Jamaican Real Estate Investment

Property in Jamaica | Jamaican Real Estate Investment: "Jamaica’s economy is showing signs of recovery, but its housing market has yet to reflect this. Property sales are more or less at a standstill, while the number of domestic rentals has soared. Jamaica’s real estate market has struggled for the last few years, thanks to weak economic growth, high inflation, and high crime rates. In 2009, property prices fell as foreign demand weakened and many overpriced properties underwent a price correction. Sales volumes dropped as well. “The Jamaican housing market has been flat or in decline in the upper end of the market for 2010 relative to 2009,” says Edwin Wint, President of the Realtors Association of Jamaica. “The lower middle income market segment is still active, but the rate of increase is diminishing.”"


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