Jangle, A who did a predict

[Assasin]

The real estate bust in Jamaica in short order?

[Jangle]

You mean the forum bright guy?


Real estate market projected to hit US$93 billion this year




“Participants will learn how to discover and evaluate portfolio-building opportunities, gather insights and strategies, and acquire tips to help them succeed in the vast, challenging and exciting world of real estate,” the release said.

Despite the effects of the recent COVID-19 pandemic, Jamaica’s real estate market has remained one of the most stable sectors and continues to prove that a sure way to secure wealth and financial stability is by owning property.

With savings providing less than one per cent return per annum, and low yields being offered by other financial instruments, real estate provides a more secure and higher return on investment. Average rental yields in Jamaica typically start at six per cent and can easily surpass that, in addition to the continuous appreciation of housing values.
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“As inflation eats away at savings and income, in the Jamaican context, investors look to assets that will preserve the value of their money. One such asset is real estate, as property prices tend to move up along with other prices,” said Kirlew.

According to the release, “the value of the real estate market is projected to reach US$93.95 billion in 2024. Residential real estate dominates the market with a projected market volume of US$76.73 billion in 2024. The value is expected to show an annual growth rate of 4.00 per cent, resulting in a market volume of US$109.90 billion by 2028. In global comparison, most real estate value will be generated in China (US$135.70 trillion in 2024).”

Kirlew pointed to the growth in tourist arrivals in Jamaica and the influx in expatriates, arguing that both factors aid in sustaining the substantial demand for Jamaican real estate.

“ It is no wonder short-term rentals are the main go-to for real estate investors these days, and with tourism levels now surpassing pre-pandemic levels, real estate investors are sure to realise an increase in their bookings,” Kirlew said.

The 2019 Travelers Choice Awards listed Jamaica as one of the top 25 destinations in the world. Many of those guests, the release said, want to expand their horizons and rent Airbnb properties rather than being cooped up in a hotel room, and the returns show.

Airbnb bookings increased by 55 per cent in 2021, from $193 million in 2020 to $300 million in 2021, with Kingston properties earning US$2.4 million from Airbnb services in 2017 alone.

“Holding real estate in Jamaica can yield almost 60 per cent in revenue in any period over five years. This figure is evident, based on the recent appreciation of Jamaican real estate. Purchasing property in Jamaica is, therefore, one of the most profitable long-term investment options,” Kirlew said.

Jamaica is conducive to growth and in 2014 was named the number one Caribbean country to do business and to invest by Forbes.


https://www.jamaicaobserver.com/2024...-billion-year/

[Sir X]

JA real real estate market is a ponzi scheme . The MLS is a racket . No history of sales in the areas, just inflated market values, based on personal speculation as in the above case. They keep plugging projections , based on what valuations ? .

Over seas arrivals ? Can i get a list of the volume of last years sales ? .

[Jangle]

Supply vs Demand = Value.

Kirlew pointed to the growth in tourist arrivals in Jamaica and the influx in expatriates, arguing that both factors aid in sustaining the substantial demand for Jamaican real estate.

“ It is no wonder short-term rentals are the main go-to for real estate investors these days, and with tourism levels now surpassing pre-pandemic levels, real estate investors are sure to realise an increase in their bookings,” Kirlew said.

[Sir X]

There is something on every state MLS , that is public knowledge in the USA , that list the history of the sale price of any and every property . This gives you a point of valuation , not that it is , but it could be less or more than the current value, further it gives you time of when the last property was sold in an area . E. g sold in last month, 6 months or year or years . Those two are the main variables that are used to give you a valuation of a property. The later especially because it hints at the pace ( how fast they are being sold) .

I say main because a property might be condemned or in foreclosure. Again that would show on the mls. The Jamaican MLS doesnt have this. What they have is press releases from government officials supported by industry realtor insiders selling ponzi schemes.

Jangle knows this. The only reason he is pushing this narrative can only be seen as political. I showed Jangle a property somewhere in matches lane for 500KUSD.Rundown piece of crap in gunman country . They must be selling the neighborhood , not the house , based on future projections no doubt Where, How did they get that valuation ?

[Assasin]

So you want tell me the US real estate is not in a bubble too? Within the last 4 years the price of property in many states doubled and this is with high interest rate too. As Jangle posted that what is sustaining the real estate market is people returning, tourist and others loving and either going there part time or full time. The demand for Jamaica property has grown big time. What kind of explanation is that? There are many houses sold in 2013 etc for 60 and 70 thousand that is now selling for 300 thousand today.

[Sir X]

Clarification. : More clarification ,You can also see the change in prices when listed on the American MLS . e. g First listing price $ 350k, today , tomorrow $375 k , next week $300 , etc etc.

To be fair to the jamaican market what drives it or use to drive it , is migration out of the island . where as individuals would sell or hold for it to be sold at their speculative price. Based on that exodous prices would rise or fall. What i find is the older generation would hold out until they get their price. This explains the empty houses in what we call decent neighborhoods . People migrate holding out for their prices , most end up dying overseas , or just forget about their properties as a dream of return.

This new migration into the islands ( visitors) cannot support the volume being built , in my opinion, not every visitor is buying property, most come for vacation.

Brick and I had conflicted arguments on a development , where a gleaner article stated 50% of the units were sold . Brick leaned on one developer who said , they have buyers lined up?. I dont see the personal income and volume of people in the middle class that can support the volume of units to be sold. I dont.

Troubling to me ! You have a finished project and you have buyers lined up , after the property being completed for a year , not sold ?????. In this bustling real estate market ??????.


How many more developers have buyers lined up , and when can we see , the listing price history ? . a) When did you list the property for sale , b) How much did you list it for , c) Did the list price go up or down , and d) How long has it been listed on the market ? .

All those questions are not answered by the Jamaican ponzi scheme MLS.

[Assasin]

You couldn't make this up.

Most property now for people who migrated is held until they die and it is inherited or capture?

Where do the people who migrate to Jamaica and don't buy a property? I assume it is in someone else's property and that drive up the demand for rental property which is owned by someone.

I guess you and Brick can argue about 1 development. Last time I check, most Jamaicans still buy or borrow to build a two room and later add to it. Fact is there is a lot of development that is coming on stream.
1) Hotels are been build
2)They and the government are now seeing the importance of also build houses for workers in the industry to buy. Hotels will make a little profit but benefit from getting more workers.
3)NHT backed schemes are still been build at the same rate or faster.
4)People live overseas still want a piece of Jamaica and that continue to be one of the main factor in driving up prices, whether for apartment or land.

[Sir X]

Cognitive dissonance at its best. All of that is to say what , the real estate market is booming . .

Gimmie a break , i spoon fed you what data is lacking , comparative to the US MLS , which gives you an indication of the current US market . The article on the Jamaican real estate landscape gives you dates from 2024,2021,2017 and 2014 based on press releases. It literally states " the release says and according to the release " .... lol.

[Assasin]

Gimmie a break , i spoon fed you what data is lacking , comparative to the US MLS , which gives you an indication of the current US market . The article on the Jamaican real estate landscape gives you dates from 2024,2021,2017 and 2014 based on press releases. It literally states " the release says and according to the release " .... lol.

While this maybe true, it doesn't affect the the real estate market very much. If you go to the record office or get a lawyer to do this, they can find out a lot about the property.

This doesn't stop people from buying and some of those prices maybe not worth the paper because of inflation and the devaluation of the dollar over the years.