Jamaican property sales near $100 billion in 2025, says RAJ
KINGSTON, Jamaica – The Realtors Association of Jamaica (RAJ) says its Multiple Listing Service (MLS) data shows that Jamaica’s real estate market remains buoyant, generating nearly $99.3 billion in property sales in 2025 despite the economic fallout triggered by the impact of Hurricane Melissa. The parishes of St Andrew, St Ann and St Catherine accounted for the lion’s share of total property sales over the period. The data show a market driven by a mix of urban demand and tourism-related investment, reinforcing real estate as a key pillar of Jamaica’s economic growth. “What we are seeing is a dual-market dynamic,” said Second Vice-President of the RAJ and chair of the MLS Committee Roger Allen. “On one hand, we have high-volume urban markets, and on the other, high-value, tourism-driven parishes generating strong returns with fewer transactions.” 2025 parish performance highlights included: — St Andrew: J$41.17B from 1,727 transactions (highest revenue and volume nationally). — St Ann: J$27.36B, fuelled by strong tourism-related demand. — St Catherine: J$11.71B from 700 transactions, reflecting major residential expansion. — Westmoreland: J$6.86B from just 52 high-value transactions. — St Mary: J$3.40B, reflecting growing investor interest. — Manchester: J$2.36B, supported by steady residential activity. — St Thomas: J$96.2M, the weakest-performing parish in 2025. While most parishes closed fewer transactions compared to 2024, several generated higher revenues; a clear indication of rising property values in key markets. Parishes that saw higher revenues in 2025 versus 2024 despite fewer transactions included St Catherine, Westmoreland, St Ann and St Mary. St Andrew, while leading nationally, recorded a slight decline in both transaction volume and total revenues when compared to 2024. “St Andrew’s dominance is not surprising, but the scale of its lead is significant,” Allen noted. “The Corporate Area remains the engine of real estate activity. The bigger question is how we unlock sustained growth across other parishes.” The MLS data reinforces the link between infrastructure expansion and property appreciation. “Highway expansion and urban development projects consistently increase land values and accelerate both residential and commercial growth,” Allen explained. Areas benefiting from improved road networks, utilities, schools, hospitals and commercial expansion, including Kingston, St Andrew, St Catherine, St James and sections of Clarendon, continue to attract strong buyer demand and investment activity. In addition to property sales, the rental market generated J$772 million between January and December 2025. St Andrew, St Catherine and St Ann led rental revenues, while Westmoreland recorded the highest growth rate in the rental segment, underscoring increasing demand in resort and second-home markets. The MLS data are compiled from transaction reports submitted by approximately 2,000 registered realtors islandwide. The figures do not include direct developer sales or private transactions outside the MLS system. Allen emphasised the broader economic importance of the data: “Our MLS platform provides real-time visibility into pricing trends, buyer demand, inventory shortages and transaction patterns. This information is critical for identifying underserved housing markets, affordability gaps and infrastructure priorities.” The data, Allen said, can be leveraged to guide national housing strategies and unlock growth in underrepresented parishes.
Realtors Association launches first NAR ‘GREEN Designation’ course in English-speaking Caribbean
KINGSTON, Jamaica — The Realtors Association of Jamaica (RAJ), in collaboration with the United States-based National Association of Realtors (NAR), has launched the first GREEN Designation course in the English-speaking Caribbean, marking a pivotal milestone in the evolution of the Jamaican real estate sector. The announcement was made during a high-level green sustainability panel discussion hosted at the Terra Nova All Suite Hotel, bringing together influential voices across real estate, development and finance. The GREEN Designation programme will be delivered as a two-day training course starting in June. It is designed for realtors and non-realtors across Jamaica and will equip participants with the tools and global standards required to meet rising demand for sustainable, energy-efficient development. However, only realtors will earn the GREEN Designation title. “Launching the course is the perfect way to celebrate the RAJ’s 60th anniversary. It’s our gift back to the industry, a commitment that says we’ve been here for 60 years, and we are building for the next 60 and beyond,” said Gabrielle Gilpin-Hudson, president of the RAJ. “We have Jamaicanised the original course through our partnership with NAR, and we’ve trained a local expert who is certified to localise and teach the curriculum.” The timing of the GREEN Designation is significant, following Hurricane Melissa’s devastation across western Jamaica and a wave of residential and commercial development reshaping the island’s landscape. As rebuilding and growth accelerate, the RAJ is placing sustainability and long-term environmental responsibility at the centre of the real estate sector. “Jamaican realtors are committed to ongoing education; we have the largest number of Certified International Property Specialist (CIPS) designation holders in any one association per member in the world,” announced Gilpin-Hudson. “By earning the GREEN Designation, our members will gain specialised knowledge and access to a network of resources that will help them grow their business and become the trusted go-to realtors for clients who prioritise sustainability and high-performance home features.” The panel discussion is the first in a series of sustainability events and activations during the association’s 60th anniversary, setting the tone for sustained industry engagement on the future of development in Jamaica. Included in the planning is a tree planting ceremony in April, the GREEN Designation course in June, which culminates in a guided tour of a purpose-built sustainable property, and a Green Financing Summit. The panel discussion facilitated critical dialogue around climate risk, energy efficiency, sustainable construction practices, artificial intelligence, data, and the policy direction required to support responsible growth. Dr Rochelle Channer Miller, senior lecturer at the University of Technology and president of the Association of Land Economy and Valuation Surveying (ALEVS), pointed out that real estate buyers are more discerning and are using artificial intelligence (AI) and engaging with more information to make buying decisions a multi-generational legacy. Board Chairman of the Jamaica Developers Association Ltd, Dayton Wood highlighted that in reviewing the impact of Hurricane Melissa and looking ahead, a sustainable Jamaican means adhering to the building codes, which comes down to education and enforcement. Deputy Chief Executive Officer (CEO) of the Spatial Planning Division at the National Environment and Planning Agency (NEPA), Gregory Bennett, noted that from a planning and environmental perspective, there are key details realtors can identify and communicate to clients. These include site appraisal, zoning policies, development standards and guidelines, geotechnical and resilience issues, as well as areas designated as environmentally sensitive, such as flood-prone zones, coastal areas and no-build zones. Latoya Williams, the assistant vice president of lending solutions and business services at the Mortgage and Lending Centre – VM Building Society, noted that financing plays a critical role in shaping what gets built, how it is built and who has access. And, over time, that shapes entire communities. “As a financial institution with a long legacy in supporting homeownership, we recognise that we have both an opportunity and a responsibility to support the transition towards more sustainable development practices,” said Williams. “That means encouraging energy-efficient housing solutions, supporting developments that consider environmental impact and working with our partners to ensure that sustainability is not just seen as a premium but a standard.” Against a backdrop of mounting climate risk, RAJ’s green initiatives carry a broader national significance. “Sustainability must be embedded into every stage of development, from planning to execution,” Gilpin-Hudson stated. “The future of our country depends on decisions that prioritise resilience and environmental responsibility, and the RAJ is happy to work with the local stakeholders to get the job done.”
Realtors Weathering The Storm
BEFORE Hurricane Melissa, realtors had just under 1,000 MLS-listed properties for rent or sale in the areas worst affected by the storm. Now, as many scramble to restore their homes and places of business, they must also assess if deals have been undone and they’ll have to nudge clients back to the bargaining table. “Immediately after the storm we told our members to go and check on [the Multiple Listing System (MLS) properties] because they may need to be taken off the market temporarily, they may need to be revalued — those kinds of things. The pictures might have to be updated, because we require listings to have accurate information. If the property is damaged and you have pictures of a place that is in perfect condition on the website, that listing is now in breach. We issued a call for everybody to update the listings,” president of the Realtors Association of Jamaica Gabrielle Gilpin-Hudson told the Jamaica Observer’s Real Estate on the Rock last week. We had quite a few listings that were already under contract or under offer. Ones that were under offer, you might have to have some renegotiation because the property has been damaged or destroyed,” she noted. Then there is the added challenge, the RAJ president and attorney explained, of the high demand for loss adjustors “There are a number of properties that are in the middle of being transacted — basically the transactions are paused, waiting on somebody to assess the damage, and waiting on the insurance process to take place,” said Gilpin-Hudson. She explained that in circumstances like these it’s not as simple as getting a new valuation done, and the process is different for insured versus uninsured property. Real estate is commission-based, so with some transactions in limbo at a time of year that is traditionally slow, some realtors are feeling the pinch — especially those whose places of residence or business have been battered by Hurricane Melissa. “We have received reports of significant operational disruption from members in western parishes — property damage, loss of income, limited client activity, and in some cases total interruption of business operations,” Gilpin-Hudson told the Sunday Observer. The RAJ has been providing support for members through a variety of channels. The association’s president said chapter representatives and the RAJ secretariat have checked on members to assess individual needs; and the RAJ has set up an internal Hurricane Melissa Relief Task Force to determine how best to support members, based on data collected from its Hurricane Melissa Impact Survey. The RAJ is also making a concerted effort to be part of the country’s effort to rebuild. “We are advocating with key stakeholders to ensure that the real estate sector is included in national recovery conversations. We have provided educational resources and support for navigating post-disaster market shifts, including mental health support, valuation concerns, insurance issues, and client communication,” explained Gilpin-Hudson. The RAJ has also played a crucial role in providing the National Association of Realtors (NAR) in the US, of which the local group is an affiliate member, with factual information on the impact the storm has had on Jamaica’s real estate market. Gilpin-Hudson was invited to give a report during this year’s NAR conference held in Houston, Texas in mid-November. In the early days after the storm the RAJ took a decision to channel funds they would have normally spent to attend the event into helping its members recover. “When we told NAR about this, the leadership team, they were very, very concerned for us. They extended their support and they said, ‘Listen, come and we will contribute to the cost of your trip because we need you here more than ever. We want you to share with the conference what is happening in Jamaica.’ They allowed me to go on a panel and speak about some of the damage, and we were able to meet with one of their arms — which is called the Realtors Relief Foundation — and we were able to discuss with them how they can raise money and support our relief initiatives in Jamaica, in partnership with the RAJ,” said Gilpin-Hudson. She added that NAR President Kevin Sears, who has visited Jamaica in the past, pledged that the NAR would provide support. “We are expecting them to give us some assistance for our members and assist in general rebuilding efforts. We’ve established a page with AFJ [American Friends of Jamaica], and I think also Food For the Poor, to do some of that work,” Gilpin-Hudson told the Sunday Observer. And even as the RAJ galvanises to respond to the crisis there is recognition that Hurricane Melissa has a silver lining. “This is an opportunity for us to rebuild some of those affected areas better. A lot of the infrastructure in those areas is very old, and it needed more maintenance; the storm really showed that up. It is a good opportunity for us to see improvements in that infrastructure. And, from a long-term perspective, better infrastructure generally translates to increased demand and better prices,” said Gilpin-Hudson. “Once properties are appropriately priced…I think these properties will sell, and they will continue to sell. The only thing is that we do see sometimes where owners are very sentimental about their properties — they have an idea of value in their head that is not necessarily in line with the markets — so we definitely encourage persons that want to sell to be realistic about what they’re asking for,” she added.
Realtors Association urges property owners to list spaces for rental
The Realtors Association of Jamaica is urging property owners to list their vacant homes, apartments, warehouses and investment properties for both short and long-term rental and leases. This in order to help deal with housing and storage shortage caused by Hurricane Melissa, which damaged or destroyed 116,000 homes. President of the Association, Gabrielle Gilpin-Hudson, says its members stand ready to provide professional and efficient support to property owners in the preparation, listing and renting of their properties as well as to assist businesses and families in identifying suitable spaces for housing and the storage of goods.
RAJ calls for challenges in real estate sector to be addressed
The Realtors Association of Jamaica (RAJ) has continued to advocate for a number of issues within the local real estate industry to be remedied, especially as its members seek to operate on a level playing field. In outlining issues which cut across overdue policy reforms and other compliance matters, the challenges, if adequately addressed, the association believes will auger well for transparency, efficiency, and growth within the real estate sector. The once-booming real estate sector, which enjoyed consecutive periods of growth during the COVID-19 pandemic, has in the last few years witnessed back-to-back downturns as output slowed, due mainly to unstable market conditions. Speaking with the Jamaica Observer recently, RAJ president, Newton Johnson, said the challenges, which largely calls for stricter enforcement, could push some “rogue” operators in the space into conformity. With issues surrounding approval processes and long wait times for transaction processing remaining among the strongest pain points, he called on bodies such as the municipal authorities to step up their monitoring and oversight so as to have improved service delivery in the respective areas. Pointing to delays with a number of other state agencies, including Tax Administration Jamaica (TAJ), National Land Agency (NLA), National Housing Trust (NHT), and some mortgage providers, Johnson stressed the need for legal engineering to modernise a number of the current legislative frameworks, particularly those which concern the Transfer Tax and Stamp Duty Acts as well as Residential Tenancies Act. “These are issues that we have been facing for a number of years, a lot of which has to do with policy, and we are of the opinion that while much of them may not be a quick fix, they can all be addressed. To this end we have been meeting successively with the relevant stakeholders to see how best we can come up with solutions,” Johnson told theBusiness Observer. “We continue to advocate in having the issues fixed, as unlike most workers, our pay is based on commission, so the longer it takes to have an approval sorted and for a property to be sold that will negatively affect our members. What we have found is that too much of the processes in this sector are taking way too long, as gone are the days when a transaction could be processed in about 90 days maximum. Instead, what we are looking at now is anywhere between 120-180 days, up to even a year, which is untenable,” he added. In seeking to have a permanent seat on the Real Estate Board, the body likewise believes it can, through further collaboration with this stakeholder grouping, enhance policies that will lead to an overall betterment of the sector. Further bemoaning what he described as a type of disproportionality, Johnson said developers were also not being held to the same level of scrutiny as realtors, who, by nature of their profession, have to comply with all the stipulated regulations. “We understand and appreciate the need for full regulatory compliance, but what we want is a level playing field where other players in the sector will be held to the same level of account. We all operate under the [Real Estate (Dealers and Developers) Act], which means the same rules should apply for all parties concerned. “For years we have been advocating to the policymakers, and to date nothing much has been done, and we want to see a change where that is concerned. As an association, the RAJ adheres to international best practices, as all our dealings have to be above board and anything otherwise will be dealt with according to our by-laws. Through our organisation we have already established that it cannot be a free-for-all, and so we want to ensure that there is equity across the sector,” the president noted. The RAJ, which is a body made up of some 1,600 members, represents the interest of local real estate professionals and affiliates dedicated to the industry’s growth. The entity, as a support network, offers members educational resources, legislative advocacy, and professional standards enforcement. Despite the challenges, the RAJ president, in expressing optimism for the future growth of the sector, said that much of its progress continues to rest on how much further the interest rate will be brought down. “There still remains a vibrant market in certain spectrums, whether for commercial or residential purposes, but the real issue affecting higher levels of output right now concerns the interest rate. It has started to come down, but if we can adjust it further, I think we will see even more activity in the market, as most people are waiting to buy property but are currently in a wait-and-see mode. The slowing down of the market has impacted us to some extent, but amid the challenges, the industry, I think, remains very vibrant, as there is a lot that is going on now and we are very optimistic in terms of where the market is headed. “If we can, however, move forward in solving the outlined issues, the industry, I think, will be in a much better place. Things will also become even much better if the policymakers can get more people to toe the line where a number of these issues are concerned,” Johnson stated.
