Jamaican real estate investors press for faster government approvals

Jamaica’s real estate sector is urging faster action on government bureaucracy, warning that the country could lose investor interest if long-running delays in property-related services are not eased.

The concern was raised at the Thorpex Investor Conference, where industry stakeholders said Jamaica is competing with other regional and global markets for foreign capital at a time of shifting economic conditions. They argued that investors now place heavy weight on how quickly transactions can be completed.

One speaker said persons considering Jamaica are also assessing other destinations, and that money could move elsewhere if rival markets offer similar capital gains with smoother and quicker closings.

Stakeholders pointed to several recurring problems, including slow property transfers, extended processing times and difficulty securing documents from tax offices. One participant said a client’s Taxpayer Registration Number process required a three-hour wait at a tax office, calling that level of delay unreasonable.

The complaints come as global markets continue to adjust to supply chain pressures and tighter financing after years of economic disruption. Last week, Minister with responsibility for efficiency, innovation and digital transformation Audrey Mars announced steps intended to cut red tape and speed up public services.

The measures include broader use of electronic signatures and more online government services, with the goal of allowing Jamaicans to complete key transactions digitally instead of moving between offices, printing documents, making photocopies, and physically stamping or certifying paperwork.

While stakeholders welcomed the policy direction, they said the test will be whether investors and ordinary users see real improvements in day-to-day transactions. One conference participant said Jamaica is losing money and potential investment, and urged shorter timelines for registration, sales processing and related procedures so the country remains attractive for business.