|
Real estate grosses $50b
Real estate news By Susan Gordon
Friday | January 25, 2008
Jamaica's real estate market recorded transactions valued at about $50 billion last year, according to realtor Deborah Cumming addressing an investment conference on Wednesday. Cumming, the managing director of Century 21/Heave-Ho Properties, Jamaica, said real estate remained a sellers market throughout 2007.
She attributed some of its buoyancy to the slight decrease in mortgage rates, people having access to more disposable income helped by a slight decrease in the value of the currency and a number of housing completions which had to be on hold in 2006 due to the shortage in cement during that year.
Her estimate of what the market generated, she said, was based on figures from the Titles Office, but was by no means an exhaustive list since it represented only concluded transactions for that year.
Send tips or a Letter to the Editor to editor@updatere.com
|
