Government plans to provide land as part of plans to reduce housing costs

KINGSTON, Jamaica — Prime Minister Andrew Holness says the government will examine the possibility of providing land for housing developments, while exploring ways to reduce the cost of housing.

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

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

“For us to take it to the next level in bringing down housing prices so that the average hard-working Jamaican who contributes but cannot get benefits can benefit, we will have to dig deep into our land bank and make so that land is available,” Holness said.

“So we started thinking about that. We are a long way off and at the appropriate time we will make an announcement on how this program will be delivered,” Holness added.

Holness used the opportunity to appeal to private sector interests, emphasizing that government cannot do this alone.

“Yes, the NHT (National Housing Trust) is present in this sector of the market. The housing agency has a presence in this sector of the market, but the NHT and HAJ (Housing Agency of Jamaica) will not be able to build all the affordable and feasible housing that we need. We need the private sector to step up. this segment of the market,” Holness said.

“We need to lower prices so that bartenders, hairdressers, gardeners, mechanics – these people need homes too. Prices must be lowered. I mean, there’s so much I can do with moral suasion, but we need to get the interest rates in line, we need to move the approval and permitting process forward quickly. And we need to integrate technology because there are many new construction methodologies that can reduce costs,” Holness added.