From Grand Market and Nine-Night to rice and peas on Sundays and soup on Saturday afternoons, traditions bring us together and shape our identity. However, alongside these existing traditions, there is still room to start new ones, especially the ones focused on breaking barriers and building wealth. Investing in real estate is one of the most impactful steps you can take to break the cycle of intergenerational poverty. It is a tradition worth creating and passing down. For many Jamaicans, homeownership remains a top symbol of independence and financial success. More than just a roof over your head, owning real estate provides emotional security, financial stability, and serves as a long-term financial asset that can transform your family’s future.

The desire to own property isn’t unique to Jamaicans; it’s a universal aspiration. In March 2022, a survey published by leading financial services company, Bankrate, revealed that 74 per cent of Americans ranked homeownership as the number one measure of prosperity, even more important than a career (60 per cent) or a college education (35 per cent). Meanwhile, the Associated Press in the US and World Report earlier this year indicated that the homeownership rate in China is about 90 per cent, much higher than in many Western countries, with many urban Chinese families tending to buy multiple properties as investments. Furthermore, homeownership is also a deeply rooted part of most European countries, with up to 96 per cent of their young people taught that it’s important and a good investment, according to Statistica.com. This global perspective highlights a common truth: owning real estate is more than just a milestone—it’s a pathway to financial stability and generational wealth. So, why not create a new tradition for your family?

Sadly, for many Jamaicans, home ownership remains a distant dream. Adverse economic conditions, rising cost of living and lack of affordable housing prevent many from saving enough to even consider purchasing a home. This perpetuates the cycle of lack, creating financial instability across generations. Inflation has pushed property prices further out of reach of the average person’s budget, making it increasingly difficult for aspiring homeowners to secure affordable home financing to enter the market. Even those who manage to save enough for a deposit face intense competition for properties, particularly in the middle-income bracket, where demand often exceeds the supply of affordable homes. This often means that the dream of homeownership is delayed, leaving many feelings discouraged and uncertain about their ability to achieve this goal. If not that, then they find that their price bracket doesn’t align with the area they wish to live in. Despite these obstacles, real estate remains an effective way to start a new family tradition centred on investing and building lasting wealth. By leveraging the right strategies, such as investing in real estate funds or starting small, individuals can lay the foundation, establish this tradition and break barriers to wealth creation.

Strategies for Building Wealth Through Real Estate

Though cost is a factor, one of the biggest barriers to home ownership in Jamaica is the lack of a concrete plan. However, with proper planning, homeownership can become a reality. It is also important to start early to build wealth through real estate. Property values in Jamaica tend to appreciate rapidly, making real estate one of the most reliable investments. Yet, many people pass up viable opportunities, holding out for their “dream” home — one they sadly can’t afford right now. Consider starting small and entering the market where you can, as waiting oftentimes increases the cost of ownership. Buy a property in an ‘up-and-coming’ location, if you cannot afford your desired location. It will appreciate and you can sell it later to buy in your desired location. This will help you to establish a strong foundation for long-term financial growth.

What if Traditional Property Investment Isn’t an Option For You Right Now?

While home ownership is an asset to building wealth, as Taneisha Mullings-Smith – Senior Wealth Advisor, NCB Capital Markets Limited highlighted at the recently held ‘Using Real Estate to Build Wealth’ webinar, not everyone has the capital to purchase and manage individual properties for investment. High initial costs, ongoing maintenance, or tenant management can make direct property ownership overwhelming.

An alternative wealth-creation strategy is investing in Real Estate Funds. They offer a lower minimum investment entry point into the market, growth potential, and consistent income stream from dividend and capital gains on the initial investment amount due to real estate’s appreciating value. These funds pool money from multiple investors to purchase and manage properties, giving you a share of the returns without the need for direct property ownership. One such option is the NCB CAP Real Estate Fund, which allows you to start your real estate investment journey with as little as J$20,000. Through the “Season for More” promotion, you can begin building your wealth before the year ends and take steps toward financial security and legacy creation.

This approach not only provides a practical way to begin building wealth but can also help you accumulate the funds needed to eventually purchase your property. By reinvesting dividends and capital gains, you can grow your capital over time, making the goal of wealth creation and home ownership more attainable.

Bottom Line

Overall, building a new tradition of wealth through real estate begins with taking the first step early. The sooner you invest, the more time your property or the properties in your fund have to appreciate in value. And the good news? You don’t need millions to begin — start with what you have and gradually build your portfolio over time. Treat real estate investing like any other financial goal by developing a strategic roadmap that outlines each step towards property ownership, whether it’s through direct property acquisition or funds. Real estate funds, like NCB CAP Real Estate Fund, provide an excellent starting point with lower capital requirements, making property investment more accessible. With careful planning, you can create a financial legacy that helps future generations navigate challenges, such as the rising cost of living or limited housing options.

Ready to take the first step to building new family traditions with real estate ownership? Speak with an NCB Capital Markets wealth advisor today to find out more about the real estate fund and to design an investment plan tailored to your goals. Investing in real estate isn’t just about owning property — it’s about laying the foundation for generational wealth and financial security.

Kimberley Martin – Assistant Vice-President, Corporate Solutions, NCB Capital Markets Limited