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

KINGSTON, Jamaica – The Realtors Association of Jamaica (RAJ) says its Multiple Listing Service (MLS)  data shows that Jamaica’s real estate market remains buoyant, generating nearly $99.3 billion in property sales in 2025 despite the economic fallout triggered by the impact of Hurricane Melissa.

The parishes of St Andrew, St Ann and St Catherine accounted for the lion’s share of total property sales over the period.

The data show a market driven by a mix of urban demand and tourism-related investment, reinforcing real estate as a key pillar of Jamaica’s economic growth.

“What we are seeing is a dual-market dynamic,” said Second Vice-President of the RAJ and chair of the MLS Committee Roger Allen.

“On one hand, we have high-volume urban markets, and on the other, high-value, tourism-driven parishes generating strong returns with fewer transactions.”

2025 parish performance highlights included:

While most parishes closed fewer transactions compared to 2024, several generated higher revenues; a clear indication of rising property values in key markets.

Parishes that saw higher revenues in 2025 versus 2024 despite fewer transactions included St Catherine, Westmoreland, St Ann and St Mary.

St Andrew, while leading nationally, recorded a slight decline in both transaction volume and total revenues when compared to 2024.

“St Andrew’s dominance is not surprising, but the scale of its lead is significant,” Allen noted.

“The Corporate Area remains the engine of real estate activity. The bigger question is how we unlock sustained growth across other parishes.”

The MLS data reinforces the link between infrastructure expansion and property appreciation.

“Highway expansion and urban development projects consistently increase land values and accelerate both residential and commercial growth,” Allen explained.

Areas benefiting from improved road networks, utilities, schools, hospitals and commercial expansion, including Kingston, St Andrew, St Catherine, St James and sections of Clarendon, continue to attract strong buyer demand and investment activity.

In addition to property sales, the rental market generated J$772 million between January and December 2025.

St Andrew, St Catherine and St Ann led rental revenues, while Westmoreland recorded the highest growth rate in the rental segment, underscoring increasing demand in resort and second-home markets.

The MLS data are compiled from transaction reports submitted by approximately 2,000 registered realtors islandwide.

The figures do not include direct developer sales or private transactions outside the MLS system.

Allen emphasised the broader economic importance of the data: “Our MLS platform provides real-time visibility into pricing trends, buyer demand, inventory shortages and transaction patterns. This information is critical for identifying underserved housing markets, affordability gaps and infrastructure priorities.”

The data, Allen said, can be leveraged to guide national housing strategies and unlock growth in underrepresented parishes.