A review of the Jamaica real estate market conditions.
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Jamaica real estate market conditions

Demand and supply affects the real estate market in any and every economy. The trend setters of the market have to look out for what the consumer wants and deduce how much they would like to pay or is willing to pay for said real estates at a specific point in time. From this we see that the real estate market is the same like the labor market or any other one out there.

Whenever there is a change in the equilibrium, for example and increase in supply per say, buyers will then develop. The excess supply will allow for the buyers to get properties at a reasonably lower price.
At this time some builders may stop building due the drop in prices.

However, if there is a demand increases a seller’s market will be created instead. Sellers can now negotiate a higher pricing for their property and will make a sale as buyers are basically competing for the limited space that is available. Buildings will then resume trying and satisfy the increase in demand.

There are a few indicators that one can look out for to see what is going on in the market and know what is best to do.
• Locations, numbers, prices and house types that have been sold.
• Supply of existing houses that have not been sold inclusive of Jamaican apartments.
• Finally, occupancy or vacancy ratios available

Houses that have been sold – In Jamaica, the amount of houses sold may not be readily available. As a result you would have to check in with statutory agencies, and or real brokerages to get all of that information.

Supply of existing houses – Unlike the US, Jamaica does not have any mobile houses and therefore relocation is not a method through which the supply and demand can be brought to equilibrium. Due to this when there is a change in the equilibrium it has to be fixed by either constructing houses to cover the increase in demand or stop construction to counter the decrease in demand.

Vacancy or Occupancy ratios – this reflects the market similarly to unsold houses. Therefore if there was to be an increase in the occupancy rate then that means a surplus of apartment space is needed. This is more likely looking at space for rent, or short period stay. So if there is a 3 percent vacancy rate, it means that 97 percent is occupied and that is a good housing market.

Jamaica Real Estate Articles

Before Buying Jamaica Real Estate
After Buying Jamaica Real Estate
How To Add On To Jamaica Real Estate
Selling your real estate in Jamaica
FSBO and Pricing your Jamaican Property
Sale vs. Rental and Capital Gains 
Investing In Jamaica Real Estate
How To Flip Jamaican Real Estate
Purchasing real estate in Jamaica with No Money Down
Financing Jamaica real estate purchases
How to negotiate when buying real estate
Renting Jamaican Real Estate
How to increase the value of your real estate
Getting more from your Jamaica real estate
Leasing real estate in Jamaica
Understanding Jamaica real estate mortgage loans
Choosing A Jamaica real estate property manager
Understanding property and real estate insurance in Jamaica
FSBO your Jamaica real estate
Re-investing in real estate
Investing in Jamaican apartments
Rudiments of Jamaican property title
Understanding Jamaica real estate foreclosures
Jamaican Recipes
Trinidad Map, Trinidad Flag And Trinidad News
Jamaican Food

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