Potential threats in Jamaica’s housing sector to be addressed by government

Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator Pearnel Charles Jr., says the Government is committed to addressing potential threats to the housing sector.

Senator Pearnel Charles Jr.

Addressing the Realtors Association of Jamaica (RAJ) International Conference and Expo 2019, which was held at the Hilton Rose Hall Resort and Spa in Montego Bay, St James, on December 5, Charles said that several legislative and policy measures are being implemented to provide an enabling environment for investors in the housing sector.

“The new housing policy implementation plan was tabled in the Houses of Parliament.”

— Charles

“Earlier this year, the new housing policy implementation plan was tabled in the Houses of Parliament. It seeks to provide [a] very clear pathway for building our way out of current housing issues and also addresses the key areas, such as ensuring that when we build we are building houses that are more affordable, acknowledging the need for social housing, building with the contemplation that we have to erase squatting, and providing a comprehensive governance framework,” the Minister said.

He added that the Ministry is in the advanced stages of a squatter survey, “and we are utilising geospatial mapping and other mechanisms to assist in the development of the key frameworks for the policy and legislation to benefit you (realtors),” he said.

Charles also told the realtors that the Government was also taking steps to amend some legislation that govern the sector, highlighting that the Real Estate and Developers Act, which recently went to Cabinet, “will also be amended to, among other things, ensure that the real estate developers and dealers are held to the right standard, and so there is need for accountability in the operations”.