Realty Check

Monday Exchange BY JULIAN RICHARDSON Assistant Business Co-ordinator richardsonj@jamaicaobserver.com Wednesday, July 07, 2010 Jamaica Hotel and Tourist Association (JHTA) President Wayne Cummings says the move by Government to tighten the supervision of strata properties will help facilitate Jamaica’s transition into the timeshare market. The Registration (Strata Titles) (Amendment) Regulations, approved in the House of Representatives [...]

Experts talk realty at Mayberry forum Sunday, April 04, 2010 Every good decision is made with wise advise, and as the global recession shows signs of easing, one of the questions on the lips of the prudent investor is “should I consider real estate going forward?” That is where wise advise can come in very [...]

The Air Jamaica building, corporate head-quarters for the national carrier, is on the market for sale, as the airline counts down to a final agreement with prospective buyer Caribbean Airlines of Trinidad. Sale of the five-storey 32,802-square foot building, located on Harbour Street and overlooking the Kingston waterfront, was expected.

The Multiple Listing System (MLS) may be familiar to those of you from the USA and Canada, but may be a bit of a mystery to those from elsewhere. The basic idea of the MLS is that all the (RAJ) Member firms have agreed to share their property listings and work together on all MLS [...]

BY Alicia Dunkley Observer staff reporter dunkleya@jamaicaobserver.com The Government yesterday made another attempt to stimulate Jamaica’s flagging real estate market by moving the original January 1, 2010 implementation date for the further reduction in stamp duty and transfer tax fees to August 1 this year. In May of 2008, the administration announced that Stamp Duty [...]

WASHINGTON, May 14, 2009 Citizens of other countries represent an important segment of the U.S. home buying market, and now new special visa categories that allow foreign nationals to gain U.S. residency can help facilitate that process. By using these visa categories correctly, Realtors® will be able to help many more buyers from overseas purchase [...]

Tuesday, May 19, 2009 THE Bank of Jamaica (BOJ) yesterday launched its latest denomination – a $5,000 note featuring the image of former prime minister Hugh Shearer which it says will become legal tender in September. According to BOJ Governor Derick Latibeaudiere, the new bill became necessary in response to international benchmarks as well as [...]

Government plans to sell off just under $10 billion in assets held by the Urban Development Corporation (UDC) this fiscal year, including the sale of stake in a number of hotels. According to the Jamaica Public Bodies Estimates of Revenue and Expenditure for the year ending March 31, 2010, the UDC is expecting to generate [...]

As countries worldwide face declining real estate sales, a growing number are easing restrictions that prevent foreign ownership of property. For instance, Beijing suspended a one-year residency requirement for foreign nationals who want to buy a home. In March, the Cayman Islands lowered transfer taxes from 7.5 percent to 5 percent on waterfront properties, and [...]