When people talk about Jamaica’s real estate market, the conversation often swings between high optimism and lingering caution. Recently, someone mentioned that Kingston has seen a surge of apartment construction, creating what looks like an oversupply. In fact, some units have been selling for less than their original listed prices in 2024. That observation is true in pockets of Kingston, but to take that as a sign of a nationwide price collapse would be a misread of the bigger picture.
The reality is simple economics: if a product—in this case, apartments—is created faster than demand, sellers must eventually adjust prices to meet the market. Yet Jamaica’s property story is not confined to Kingston, nor can it be measured in one season of sales. Across the island, the pulse of real estate beats differently in Montego Bay, Ocho Rios, Negril, Port Antonio, Mandeville, and beyond. To understand where we are and where we’re heading, it’s important to zoom out and appreciate both the hist…
