Jamaican property sales near $100 billion in 2025, says RAJ

Jamaica's real estate market demonstrated resilience in 2025, generating close to $99.3 billion in property sales despite economic challenges following Hurricane Melissa. The Realtors Association of Jamaica (RAJ) reported that key parishes like St Andrew, St Ann, and St Catherine accounted for the majority of these sales, highlighting a dynamic market fueled by both urban demand and tourism-related investments.

Roger Allen, Second Vice-President of the RAJ and chair of the MLS Committee, described a "dual-market dynamic." He noted high-volume urban markets alongside high-value, tourism-driven parishes that yield strong returns with fewer transactions. St Andrew led nationally with J$41.17 billion from 1,727 transactions, while St Ann's J$27.36 billion was boosted by tourism, and St Catherine's J$11.71 billion reflected significant residential expansion.

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What we are seeing is a dual-market dynamic. On one hand, we have high-volume urban markets, and on the other, high-value, tourism-driven parishes generating strong returns with fewer transactions.

Despite a general trend of fewer transactions across most parishes compared to 2024, several areas, including St Catherine, Westmoreland, St Ann, and St Mary, achieved higher revenues. This indicates a rise in property values in these key markets. St Andrew, while still dominant, experienced a slight decrease in both transaction volume and revenue from the previous year. Allen emphasized the need to "unlock sustained growth across other parishes" beyond St Andrew's consistent performance.

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St Andrew’s dominance is not surprising, but the scale of its lead is significant. The Corporate Area remains the engine of real estate activity. The bigger question is how we unlock sustained growth across other parishes.

The RAJ's Multiple Listing Service (MLS) data, compiled from approximately 2,000 realtors, also reinforced the connection between infrastructure development and property appreciation. Allen stated that highway expansion and urban development projects consistently increase land values and stimulate both residential and commercial growth. Areas with improved road networks, utilities, schools, hospitals, and commercial expansion, such as Kingston, St Andrew, St Catherine, St James, and parts of Clarendon, continue to attract substantial buyer interest and investment.

Beyond property sales, the rental market contributed J$772 million between January and December 2025, with St Andrew, St Catherine, and St Ann leading in rental revenues. Westmoreland showed the highest growth rate in the rental segment, signaling increasing demand in resort and second-home markets. The RAJ's figures do not include direct sales data.

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Highway expansion and urban development projects consistently increase land values and accelerate both residential and commercial growth.