The Realtors Association of Jamaica reports that there has been an increase in real estate transactions since the August 1, 2009 reduction in stamp duty and transfer tax.  President of the Association, Edwin Wint, , says most of the new transactions involved residential properties, and noted that "Some owners who might have been deferring their sale have moved it forward given the revision. Several leading brokers have indicated that they've seen an (increase) in the number of properties coming on the market since the reduction in the taxes." Mr. Wint indicated that determining the exact increase in the market will take another three months.

In the mean time, it certainly seems as if realtors remain optimistic about the real estate market. In August, La Maison Property Services expanded into the Montego Bay market, to meet what it says is the demand for high-level professional services as real estate developments climb in the western end of the country, and we also saw the the re-opening of a local Re/Max franchise, Re/Max - Elite.