Agree 200% the NHT is not fulfilling its original mandate of providing AFFORDABLE housing solutions to its conttributors.houses don't have to be so ridiculously expensive.why are crown lands being sold to private developers to build only expensive gated communities.
The unfortunate thing is that anything that is negatively impacting the US will also impact us in Jamaica. They have a shortage of housing and high inflation has driven those persons to look at buying property here in Jamaica. If the US housing market gets flooded with affordable housing and the interest rates come down, then perhaps that will lessen the demand for housing here in Jamaica. The NHT also needs to flood the market with low-cost housing so that locals can have a chance at owning a house and not be house-poor.
The diaspora is buying out Jamaica at a record pace I bought a lot in Mandevile 3 years ago in pandemic time for 5 mil and now the smaller lot is now going for 12 mil
I came to u,s,a in 08 house in my area was 150 000 is now half a million we has people have to grow with times because times don't wait on us spending ways have to change so we can make up the pit falls life give form good partner ship with people and God to meet the pit falls ❤❤
True. However, our case is different. Property prices are high all over because of overseas buyers artificially running up the demand, resulting in ridiculously high prices.
Airbnb Market now struggling in jamaica especially those not in the right locations. Those properties now coming back on the market as long term rentals people asking us dollers or its equivalent.
The problem of housing costs lay with the government. You can't blame the man who buys five house in one development. For example, if I go to Dunn's River, I pay a foreign price $4,000 while the local pay a smaller price $1,000.
I totally agree with you! When it comes to 1 person owning multiple Airbnb in Jamaica because there's a shortage of homes. The Government should put in place some Regulations. For example, how many short term properties and a limit on Forenign buyers. However, I have to disagree with you ,for you say the Foreigners have money. Its not money alone don't cut it. It's Access to credit and a good credit history. The struggle is real ! 🤔🙏🇯🇲🇨🇦🍀
@@homeandgardenfixandtricks6938 Glad you agreed! The Canadian Government had suspended Foreigners from purchasing investment properties for a certain period of time ; after the Real estate market went sky high. In order to give first time buyers a chance.The 🇯🇲 people should be writing letters to Parliament on important matters like this. 🤔❤️🙏🇯🇲🇨🇦🍀
As long as your rent is not more than a third... that's quite normal worldwide. it should be a quarter to a third of your salary. Property is scarce worldwide but my question to you is why would you place such large deposit on your residential home.... money is very hard to save... you could have used that money. to have purchased two additional properties and used them for rent or AirBnB, that's what everyone is doing - Acumulating money whist in debt so you can carry away enough to live on. If someone owns 5 Air BnB's, trust me, they are in heavy debt but managing their income to pay the debt
I believe that we Jamaicans that live and work abroad would like to have a home in Jamaica but they are trying to kill us with the prices. We have some much bills abroad it’s not easy. Praises for houses in the UK 🇬🇧 is another level
I know a long time friend and tell me he selling is house in Jamaica and he say 8 million but when he gives it to house real estate 22 million I how is that he was shocked I say to him the bubble is going to burst people going to be in house with half the value it a fact it's happened al over the world it just a matter of time
Can i tell you something its a perception that you have that its foreigner's buying these houses, thats not entirely true Coldbeck Manor in old halbour and oak estates in portmore. The majority buying are locals.same with Phoenix in Portmore. Foreigner's and returning residents are mostly going for the North Coast St Anne, Mobay, lucy and Negril.
The price for houses in jamaica is disgusting I'm living in UK and keep looking for a house to buy because I want to move back home, but its hard at these prices ××
It's greed from us, look at Phoenix phase 3 sold 15 mill, I saw one on the market the owner without living in it put it back at the market 29.9 mill. That's greed.
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If you think its only in jamaica this is happening, you would be shocked. This is a word wide problem.
So true but Jamaica situation is ridiculous because it price out nearly all the middle class
Agree 200% the NHT is not fulfilling its original mandate of providing AFFORDABLE housing solutions to its conttributors.houses don't have to be so ridiculously expensive.why are crown lands being sold to private developers to build only expensive gated communities.
The unfortunate thing is that anything that is negatively impacting the US will also impact us in Jamaica. They have a shortage of housing and high inflation has driven those persons to look at buying property here in Jamaica. If the US housing market gets flooded with affordable housing and the interest rates come down, then perhaps that will lessen the demand for housing here in Jamaica.
The NHT also needs to flood the market with low-cost housing so that locals can have a chance at owning a house and not be house-poor.
Yow the price range wicked in Jamaica. Sometimes u have to go in some rural areas to get something cheaper
And the problwith most rural properties they don't hqve registered up to date titles. So no lending institutions will finance such mortgage..
@@homeandgardenfixandtricks6938 that's the next problem
@@homeandgardenfixandtricks6938 Jamaica soon become like Cayman Islands where a mostly foreigners live there
The diaspora is buying out Jamaica at a record pace I bought a lot in Mandevile 3 years ago in pandemic time for 5 mil and now the smaller lot is now going for 12 mil
Ridiculous if you ask me
I came to u,s,a in 08 house in my area was 150 000 is now half a million we has people have to grow with times because times don't wait on us spending ways have to change so we can make up the pit falls life give form good partner ship with people and God to meet the pit falls ❤❤
Housing prices have skyrocketed in desired areas all across the globe.
True. However, our case is different. Property prices are high all over because of overseas buyers artificially running up the demand, resulting in ridiculously high prices.
Exactly and Jamaica too small to move go anywhere else. At least in the states you can move out of it.@@homeandgardenfixandtricks6938
Airbnb Market now struggling in jamaica especially those not in the right locations. Those properties now coming back on the market as long term rentals people asking us dollers or its equivalent.
The problem of housing costs lay with the government. You can't blame the man who buys five house in one development. For example, if I go to Dunn's River, I pay a foreign price $4,000 while the local pay a smaller price $1,000.
True
I'm not blaming anyone. I'm just pointing out what driving the demand. And I agree that government need to play a more active role.
I totally agree with you! When it comes to 1 person owning multiple Airbnb in Jamaica because there's a shortage of homes. The Government should put in place some Regulations. For example, how many short term properties and a limit on Forenign buyers. However, I have to disagree with you ,for you say the Foreigners have money. Its not money alone don't cut it. It's Access to credit and a good credit history. The struggle is real ! 🤔🙏🇯🇲🇨🇦🍀
So true, I agree fully. As I said, let the discussion continue because I alone don't have all the answers. Thanks for your input
@@homeandgardenfixandtricks6938 Glad you agreed! The Canadian Government had suspended Foreigners from purchasing investment properties for a certain period of time ; after the Real estate market went sky high. In order to give first time buyers a chance.The 🇯🇲 people should be writing letters to Parliament on important matters like this. 🤔❤️🙏🇯🇲🇨🇦🍀
Who is responsible for these prices going up?
Fully agree, its so frustrating. Can't qualify to buy and the rent too high in Kingston and St Catherine. What to do?
This is only pushing people to go squat
As long as your rent is not more than a third... that's quite normal worldwide. it should be a quarter to a third of your salary. Property is scarce worldwide but my question to you is why would you place such large deposit on your residential home.... money is very hard to save... you could have used that money. to have purchased two additional properties and used them for rent or AirBnB, that's what everyone is doing - Acumulating money whist in debt so you can carry away enough to live on. If someone owns 5 Air BnB's, trust me, they are in heavy debt but managing their income to pay the debt
The average rent is moe than a quarter of the average salaryin jamaica right now. I didn't pay alot on deposit. I only paid 5%.
I believe that we Jamaicans that live and work abroad would like to have a home in Jamaica but they are trying to kill us with the prices.
We have some much bills abroad it’s not easy.
Praises for houses in the UK 🇬🇧 is another level
I know a long time friend and tell me he selling is house in Jamaica and he say 8 million but when he gives it to house real estate 22 million I how is that he was shocked I say to him the bubble is going to burst people going to be in house with half the value it a fact it's happened al over the world it just a matter of time
Can i tell you something its a perception that you have that its foreigner's buying these houses, thats not entirely true Coldbeck Manor in old halbour and oak estates in portmore. The majority buying are locals.same with Phoenix in Portmore. Foreigner's and returning residents are mostly going for the North Coast St Anne, Mobay, lucy and Negril.
It's the same in the US. The average American can not afford to buy a house in the US. We too are priced out of the market.
The price for houses in jamaica is disgusting I'm living in UK and keep looking for a house to buy because I want to move back home, but its hard at these prices ××
Very hard I hope you get something soon
There is a housing crisis in Jamaica
There is no housing crisis in jamaica, greed is the problem everyone want type price. Developer, realtors, and the people.
You do know it's we jamaican setting and asking for those ridiculous land.
It's greed from us, look at Phoenix phase 3 sold 15 mill, I saw one on the market the owner without living in it put it back at the market 29.9 mill. That's greed.
World wide
14 million
27 mil
15 million dollars
27 million and up
Try buying a house in toronto
@@Corey49 it's crazy
30 mill
Good guess