When someone says cheap houses for sale what they actually mean is “affordable housing”
Jamaica has to follow very strict building codes and as such developers are bound by law to build very strong homes which can withstand hurricanes and earthquakes. Also, because of flooding homes must be built on suitable land which tends to be more prime real estate.
The factors involved in building tend to cause home prices to escalate. The government has been making efforts to provide affordable housing however the demand is extremely high and far outpaces the supply.
In Jamaica cheap houses tend to be regarded as homes priced under ten million Jamaican Dollars for two bedrooms. Based on current construction costs to achieve this price range developers have to build the units very small or on very small parcels of land to ensure that they maximize their investments.
Jamaican real estate values tend to trend upwards despite the world market. A main driver of this is our huge diaspora members which continue to return home after their retirement. This ensures a steady demand for the limited supply.
My advice to anyone searching for cheap homes in Jamaica is to find a reputable realtor from the Realtors Association of Jamaica or your local Keller Williams Jamaica agent. They can enter you into the automated system so that you can be notified of new listings availability.
