News Archive

Real Estate Pain

April 27, 2015

Realtors® say high level of crime affecting investments. BY PATRICK FOSTER Deputy news editor fosterp@jamaicaobserver.com Tuesday, April 28, 2015 JAMAICA could attract much more high-end real estate investments from overseas if the country is able to fix its crime problem, according to Realtors Association of Jamaica (RAJ)...

No Property Tax Increases In The Upcoming Fiscal Year

February 10, 2015

Finance Minister Dr Peter Phillips. - File Finance and planning minister Dr Peter Phillips has said there will be no increase in the rates of property taxes in the upcoming fiscal year. In a statement to the House of Representatives this afternoon Phillips dismissed media reports that the tax would be increased in the 2015/2016 financial...

Mortgage Providers Face Conundrum Over Stubborn NPLs

December 7, 2014

Avia Collinder, Business Reporter Local mortgage providers who have pulled assets in the form of foreclosed properties on to their books will have to offload the properties before strict deadlines set under the pending Banking Services Act elapse. The asset bulge arising from foreclosures is a consequence of the recent financial crisis during...

HOME SWIFT HOME

December 5, 2014

Lower downpayment to make homeownership easier Daraine Luton, Senior Staff Reporter THE high downpayment required in order to purchase a home is to be drastically slashed, following the passage of an amendment to the 1960 Mortgage Insurance Act in Parliament. When signed into law by the governor general, the bill - which was passed in the House...

Timeshares Vacations Bill approved

November 28, 2014

TEF to fund first year of implementation KINGSTON, Jamaica – The Senate today approved the Timeshare Vacations Bill, facilitating the country’s entrance into the tourism timeshare market. Minister of Justice, Mark Golding said that potential investors have already shown an interest in developing timeshare vacations in Jamaica. “This...