KINGSTON, Jamaica — Prime Minister Andrew Holness has said that the government will be examining the possibility of providing lands for housing developments, as it explores ways to reduce the cost of housing.

Speaking at the grand opening of Sagicor’s New Brunswick Village housing development in St Catherine on Wednesday, Holness expressed concern about the number of housing solutions and the affordability for the average Jamaican.

Recognising the limits of moral suasion, Holness noted that his administration was actively looking at ways to stimulate interest in the area of housing development that would provide a greater number of affordable solutions.

“For us to get to the next level of bringing the prices of housing down so that the average, hardworking Jamaican who is contributing but can’t get a benefit can get a benefit, we will have to dig deep in our land bank and make lands available,” said Holness.

“So, we have started to look at that. We are very much down the wicket and at the appropriate time, we will make an announcement as to how this program will be executed,” added Holness.

Holness used the occasion to appeal to private sector interests, stressing that the government cannot do it alone.

“Yes, the NHT (National Housing Trust) is in that area of the market. The housing agency is in that area of the market, but the NHT and the HAJ (Housing Agency of Jamaica) will not be able to build all the affordable and achievable housing that we are in need of, we need the private sector to go into that segment of the market,” said Holness.

“We must get the prices down so that the bartenders, the hairdressers, the gardeners, the mechanics- those persons need houses too. We must get the prices down. I mean, there’s so much I can do with moral suasion, but we have to get the interest rates aligned, we have to get the approvals and permitting process moving quickly. And we have to integrate technology because there are many new building methodologies which can reduce costs,” added Holness.