Latest News

Gov't developing regulatory framework to address inadequate housing

Wednesday, October 10, 2018

Print this page Email A Friend!

KINGSTON, Jamaica — Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw says the Government is in the process of developing a comprehensive regulatory framework for the housing sector in order to meet the annual demand for houses, which currently stands at 15,000.

He was speaking at the Real Estate Board's 30th Anniversary Banquet & Awards Ceremony, held at the Spanish Court Hotel in New Kingston on October 6, where he represented Prime Minister Andrew Holness.

Shaw stated that among the initiatives to be undertaken to address this situation are the development of a National Housing Policy and Implementation Plan; revision of the Rent Restriction Act; and undertaking of a National Squatting Survey.

“We have been unable to satisfy this demand over the years and this has caused prices to rapidly escalate, pushing the ability to attain the goal of homeownership from the grasp of many,” Shaw was quoted as saying in a release from his ministry.

Referring to the Business and Consumer Confidence Survey for the first and second quarters of 2018, Shaw noted that only 7 per cent of consumers anticipated buying a home soon.

“We must find a way to make it easier for the working class, tax-paying citizens of this country to earn their homes within a reasonable time, thereby strengthening their growth and that of the country,” the minister said.

He cited the importance of the private sector and government in looking at the factors that need to be developed or strengthened to ensure that the market remains favourable and attractive for investors, developers, dealers and purchasers, the release said.

Fourteen individuals were recognised for over 10 years of faithful and dedicated service to the Real Estate Board, including Chief Executive Officer Sandra Garrick, who served for 30 years.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon