ST JAMES, Jamaica-Opposition Leader Mark Golding has charged stakeholders in the real estate sector to embrace sustainable building practices and promote energy efficiency to benefit the environment and reduce long term operating costs for homeowners.

“lt is important that while maintaining an efficient cost structure, the quality and craftsmanship in all aspects of development, from construction materials and techniques to architectural design and finishing touches are also maintained.  This will ensure that you earn the trust and confidence of buyers while securing your investment and buyers’ investments as well,” Golding said.

“Too often we hear homeowners in new developments complaining about the quality of homes which they have spent their hard-earned money on. Additionally, I encourage you to create developments that prioritise accessibility and inclusivity for people of all ages, abilities, and backgrounds,” he added.

Golding’s remarks were read by Senator Janice Allen at the Realtors Association of Jamaica’s International Real Estate Conference and Home Owners Expo held at the Montego Bay Convention Centre last week.

The expo was held under the theme: “Future of Investments in Real Estate: Destination Jamaica”.

Noting that the real estate market in Jamaica is dynamic, posing both opportunities and challenges, Golding argued that “over the past decade, we have witnessed a concerning trend of declining homeownership rates, particularly in urban centres where the cost of housing has skyrocketed, placing the dream of homeownership out of reach for many hardworking individuals and families”.

He said data from the 2022 Voluntary National Review Report of the 2030 Agenda and the SDGs, shows that in 2019 over 100,000 fewer Jamaicans rented or lived in their own home than in 2007. The report also showed that 30 per cent of households were either living rent free with owners’ consent, what Jamaicans would call “kotching”, or they were occupying premises without the legal owner’s consent which represented an increase of over 10 per cent in comparison to the preceding decade.

“Shelter is not merely a commodity; it is a fundamental human right. In the Jamaican historical and socio-economic context, it requires a proactive approach by the State in collaboration with private entities to provide sustainable and affordable housing for our people,” Golding said.

“As we navigate this landscape, we must ensure that the interests of all stakeholders are balanced. We must also remain vigilant to safeguard our environment as well as agricultural lands, preserving the natural bounty that sustains us,” he added.