Rising property prices in and around Jamaica’s main urban centres are placing sustained pressure on middle-income households, raising renewed questions about whether home ownership is moving beyond the reach of the country’s working professionals. While demand for housing remains strong, the gap between average earnings and entry-level home prices has widened in key parishes, particularly Kingston and St Andrew.
Over the past decade, the cost of newly built homes in established commuting corridors has increased significantly. Units that once traded in the $15–20 million range are now frequently marketed between $40 million and $60 million in parts of the Corporate Area and expanding zones of St Catherine. At the same time, average formal-sector wages have not risen at the same pace.
For many dual-income households earning between $300,000 and $500,000 per month, the mathematics of ownership is becoming more complex. A property priced at $45 million may require a deposit of $9–13 million…
