KINGSTON, Jamaica — Prime Minister Andrew Holness on Tuesday made an appeal to home developers to keep the price of housing within an affordable range for Jamaicans seeking to acquire homes.

“We notice each time we increase the loan limit, developers increase the price. I don’t believe in price control; I believe in a transparent market. The market will self-regulate, but the market works when there is an option for supply so that I don’t have to go to a high price. We are working to expand the supply. I am appealing to the developers — keep the prices as they are. We have managed to keep inflation down; come on, man, have some conscience,” Holness said.

“What we are trying to do is help you so that more people can purchase the housing stock that you have, but what we have also done is to create an incentive that assists those borrowers who are trying to acquire housing in the affordable and low-income segment of the market,” he added.

He noted that a person building in the low-income segment of the market can borrow a total sum of $12 million from the National Housing Trust (NHT).

The prime minister, who made the appeal during his keynote address at the Nitram of Waterloo Apartments ribbon-cutting ceremony, said the government is supporting Jamaicans seeking to acquire homes.

“As of July 1st 2025, the NHT loan limit will be raised from $7.5 million to $9 million, so if you want one of these, you are well on your way, and if you are co-owning, you can now access $17 million, and if three persons co-make it, then you can get $23 million, so you are well on your way to acquiring one of these lovely units here,” Holness stressed.

He added that where the cost of the housing solution is $14 million or less, the borrower will be able to access $12 million, subject to affordability.