We note with interest a few recent announcements in the media of new real estate offerings.

Firstly, Melam Estate, a 3 bedroom townhome community is being developed by Robert Marsden in upper St. Andrew, with a starting price of US$675,000.00. Peter Matalon is developing a 28 single-family townhouse community in the upscale Manor Park/Waterworks area. These high end homes will start at US$495,000. That's J$35m at todays exchange rates. He promises no escalation, and the units are to be completed in 2010. That price may not be so bad in our high inflation economy, but they require a 30% deposit on signing. 

Dewdrop Homes also announced their latest development, an environmentally friendly community, Les Grande'ur Country Club, which will feature the use of alternative energy sources in the form of solar and wind power. The 3 bedroom townhouse will cost J$30M.  The NHDC also announced a rebranding and a return to it's mission to provide low income housing, with a new major project in Luana, St Elizabeth.

 Then there is the hurricane proof, fire proof Caribbean Tropical Igloo Home, dome-style homes from 1 to 5 bedrooms priced very attractively.  We have to also mention a reminder ad from New Era Homes that there are still two phases of Caribbean Estates 2 & 3 bedroom units left, plus a few townhouses are still available. These units, while attractive, have however seen huge escalation and the 2 bedroom house now starts at J$8.69m.

The Jamaican real estate market is showing signs of a major slowdown however ...  how quickly will this inventory move?