Experts: Buyers likely to get good real estate deals amid COVID-19

“There has never been a better time in the recent history of real estate (in Jamaica) that so many factors are in favour of the buyer, said Jerome Jarrett, client partnership manager at JMMB Bank.

He is urging persons in the market to purchase residential properties to take advantage of the opportunities that may arise, as a result of the COVID-19 pandemic.

“We realise that folks still want to get back on track with their goals in 2020 – home ownership being one such,” added Jarrett.

In explaining further, the JMMB banker said, “Recently, the government announced a reduction in NHT (National Housing Trust) rates – making it one of the lowest rates it has ever been; … we also saw a lowering of stamp duty and transfer tax rates (last year); coupled with more affordable terms of financing, due to the highly competitive space right now.”

Jarrett anticipates that buyers will also be able to get good deals on real estate, as there is likely to be an increase in the supply of more developments, coming on the market.

Jarrett was sharing nuggets alongside co-presenter, Howard Johnson Jnr., realtor and CEO of Howard Johnson Realty, during a recent JMMB Goal Getter Live webinar hosted by the company, across its social media platforms, to assist clients and the wider public, to navigate the COVID-19 crisis. Read more

Source: Loop Jamaica