Three months after renting a property, you realise that your landlord is unscrupulous. What did you do wrong? You may not have heeded the warning signs. As with any other matter relating to property, careful thought must be placed in deciding from whom to rent or lease. While it is more prudent to rent through an established agency, it is also recommended that prospective tenants “interview” landlords before entering into contracts.

Read more: http://www.jamaicaobserver.com/business/Red-flags-to-note-when-renting

The changing dynamics of Jamaica's residential real estate market is today reflected in a diverse housing stock. Apartments and townhouses now dot a landscape once dominated by conventional detatched homes. But what exactly are the advantages of buying into these developments? Arguably, the clearest advantage of investing in apartments and townhouses it that most of them are strata-managed or have citizen associations. The stipulations of strata managed developments have proven, by the reckoning of some realtors, to be one of the key allures.

Read more: http://www.jamaicaobserver.com/business/The-benefits-of-buying-into-apartments--townhouses_13362384

The growing need for affordable housing solutions has spurred many developments islandwide, but without proper financial planning, homeownership will remain out of reach for many persons. With the increased numbers of qualified buyers, bolstering your chances of homeownership simply comes down to wise financial decisions. That's the warning from Jamaican lending institutions in the face of forecasts for even tougher financial times.

Read more: http://www.jamaicaobserver.com/business/Boost-your-chances-of-owning-a-home_13318475

WEALTH Magazine Home Sweet Home is the most recent addition to the Wealth Magazine family. The show promises to provide 13 fulfilling episodes with useful information on buying a home in Jamaica, using local resources and professional assistance to make more informed decisions about real estate. The aim is to build the confidence of those who may have felt doubtful about owning their own property one day and help those that seek additional information. Low-income, middle- income, high-income and luxury properties will have a chance to be stars as the episodes continue.

Minister Without Portfolio for Transport, Works and Housing (Housing) Hon Dr Morais Guy states that he considers the Wealth Magazine Home Sweet Home television show as part of the partnership to better inform potential homeowners on what the real estate of the Jamaica has to offer.

Read more at http://www.jamaicaobserver.com/business/Properties-take-centre-stage-on-TV-show_13018618

The Real Estate Board and Strata Commission are on a mission to have the law governing the use of purchasers' deposits amended as a way of ensuring that home investors enjoy greater protection. "Cabinet has approved the amendment and we have completed three drafts of the bill; the fourth is being worked on as we speak," said Sandra Watson, the board's chief executive officer. "It has to be approved by Cabinet before we can provide any other details. Primarily, it will ensure that developers are more accountable, especially regarding depositors' deposits," noted Watson.

The issue of inadequate investor protection came to national attention recently after the Real Estate Board and several home investors expressed concerns about the millions of dollars collected by the developers of the stalled Palmyra Resort and Spa scheme in Montego Bay, St James.

 Read more at http://jamaica-gleaner.com/gleaner/20120912/news/news2.html

The Prime Minister of Jamaica has instructed the National Housing Trust (NHT) to be more aggressive in providing affordable housing solutions for all contributors. Mrs. Simpson-Miller, in a recent meeting with the members of the NHT Board implored them to pay special attention to young professionals, many of whom she said were unable to afford some of the houses now being built by the Trust.

She also reminded Board members of the raft of NHT-related promises she made in her budget presentation earlier this year, saying that she was looking for all these promises to become reality within the specified timeframe.

Read more: http://www.jamaicaobserver.com/latestnews/PM-urges-NHT-to-facilitate-young-professionals--disabled

Chairman of the National Housing Trust (NHT), Easton Douglas, says there is not enough supply of housing in Jamaica in either the low- or middle-income categories to fill current demand. Real estate agents and dealers agree with him, one of whom has dubbed the lack of housing inventory a "housing crisis" driven by expensive land, while wondering if the capital city Kingston should start building up instead of out.

Read more at http://jamaica-gleaner.com/gleaner/20120715/business/business1.html

Prime Minister of Jamaica Portia Simpson Miller recently announced that mortgage rates within the three-five per cent range would be cut for three years to a range of one-three per cent. The NHT will also receive a two-year waiver from GCT and other taxes, the PM said. Realtor Andrew Issa who heads Coldwell Banker Jamaica says in order to increase market supply in response to excess demand, the savings projected from a two-year tax holiday granted to the National Housing Trust (NHT) should be reinvested into the development of homes capped at J$7 million in price.

Read more at http://jamaica-gleaner.com/gleaner/20120617/business/business2.html