We are starting the New Year with high hopes that this will be a great year for real estate. In the last quarter of 2015 it was announced that the National Housing Trust loan ceiling would be increased from $4.5 to $5.5 million dollars on new construction and that there would be a one percent reduction in interest rates. This combined with the completion of the North coast highway and the shortened commute from Ocho Rios to Kingston will open up many real estate possibilities. Of course, as it relates to the highway, none of this would be possible without the contribution by the Chinese Government and they must be recognized for their efforts.
Life on the coast is picking up and at Coldwell Banker we recognize this and that’s why we have just opened a second office in Montego Bay that will service the Fairview and Ironshore side of town, while the Freeport office will service Freeport and its environs. To learn more about what’s happening in Montego Bay check out the article “Dreams Do Come True” written by former Vanity Fair staffer Marc Goodman, that puts some perspective on the development and transformation of Freeport and at large, Montego Bay, throughout the years.
In closing, please use this magazine to catch up on what’s new in Jamaica. Feel free to visit our website www.cbjamaica.com or our Facebook or Instagram pages for all of the up to the minute details on properties deals in all price ranges and of course, if you are considering buying, selling or renting a property or if you would like to get some advice on your options, one of our 92 agents are just a phone call or e-mail away. We never stop moving!
Until next time, walk good!