The Mecca : Kingston is booming!

[Sir X]

500 sqft,1 bedroom Apt/ Condo for 180k USD

700 sqft, 2 bedroom Apt/ Condo for 260 k USD .

That's in havendale,new gated community 8 units.

There is a construction boom for gated communities,who is buying this ? The banks to rent out on the Airbnb market.

Incidentally that sqft is robbery . 2 bedroom should be at least 800 and 1 at least 600 sqft.

How does the average Jamaican benefit from this ,I have my thoughts , curious about the forumites thoughts ?

[Bricktop]

that's right...booming...& your likkle badmind self who sits in farrin slaving away for the whiteman has this outdated image of jamaicans down here suffering in backwardness...he is flabergasted at how jamaicans are able to afford condos that he can't...go mek the coffee for your white boss & stay outta black people business lil X...

[Westman]

X might be off the mark, but you are out of order.

[Sir X]

that's right...booming...& your likkle badmind self who sits in farrin slaving away for the whiteman has this outdated image of jamaicans down here suffering in backwardness...he is flabergasted at how jamaicans are able to afford condos that he can't...go mek the coffee for your white boss & stay outta black people business lil X...

Comprehension: I said the banks are buying them , what's being sold are coffins.

500 sqft is a coffin for $180 k.

Clown 🤡

[Bricktop]

okay...i take back the coffee part

[Bricktop]

[Sir X]

Exactly a coffin , for down town Brooklyn prices. The middle class can't buy that. The banks are for the Airbnb market.

Pricing the poor and middle class out of aforable housing to service a tourist market. Shows the demand for tourism in Kingston is there. That's good, opens up the service industry.( Sarcasm)

Clown 🤡.

[Bricktop]

so a 500sf comdo in farrin costs $500k & in kingston it costs $180k...what's your point?

[Sir X]

so a 500sf comdo in farrin costs $500k & in kingston it costs $180k...what's your point?

Not making a point asking questions if it's good for the banks to be financing these gated communities for Airbnb and buying them out at the same time. They project a demand but what if they are wrong ?

This is not for the middle class , 2nd 500 sqft is called a studio in NY ,doesn't matter where in NY. You guys selling that as a 1 bedroom..

Prices are based on neighborhood like anywhere and projected future value ( gentrification).

Some win some loose,seems risky for the banks,good for investors and construction workers bad for the middle class.

[Bricktop]

so what makes you think the jamaican middle class can't afford an $180k condo?

[Sir X]

so what makes you think the jamaican middle class can't afford an $180k condo?

Comprehension: The banks are financing Airbnb coffins . The few that can buy don't equate to the volume being built ,so even if the few can buy ............Yuh get it ?

They are betting on the pandemic opening up that expats/ forgein buyer market.


Seem like a bubble to me .

[Bricktop]

you think the construction boom is to take advantage of airbnb? you poor misinformed lil man

[Sir X]

you think the construction boom is to take advantage of airbnb? you poor misinformed lil man

If you have another angle sell it ,but why haven't you sold it before,why am I hearing this from investors here on the ground in Kingston.

[Bricktop]

so a guy you know bought a condo for airbnb & that means nobody in jamaica can afford them and it's the banks that are buying them...i know several developers...they have built six developments in the past two years...i assure you it's not the banks buying them & they have a no airbnb clause...all sold out...

[Sir X]

so a guy you know bought a condo for airbnb & that means nobody in jamaica can afford them and it's the banks that are buying them...i know several developers...they have built six developments in the past two years...i assure you it's not the banks buying them & they have a no airbnb clause...all sold out...

That's your story ,I spoke with several developers and am speaking with them presently. Banks can't buy outright ,they financed deals that present that option thereby hold a interest by financing.