Jamaica real estate “reviving”

The Jamaica real estate market is reviving, according to the country's national building society, after interest grew at a recent property show in Florida.

The event, which was held at the end of last month, had 400 attendees and "received an overwhelming response" from Jamaicans living in the state, reports South Florida Caribbean News .

Speaking at the event, Wanica Purkiss of the Jamaica National Building Society explained that interest rates are now at a 30-year low, with developers "exploring reduced construction costs" and the government reducing transfer tax and stamp duty to entice buyers.

One representative said it was a positive sign for the Jamaican market that "many persons wanted to learn more about the availability, cost, location and types of housing and property investment opportunities that exist in Jamaica."