Prime Minister Holness Highlights Government’s Deliberate Comprehensive Strategy for Housing Access
Prime Minister Dr. Andrew Holness has reaffirmed the Government’s strong commitment to increasing homeownership among Jamaicans through a balanced and strategic approach that targets both supply and demand.
Prime Minister Holness says the government’s approach to addressing housing and expanding options for greater access is the result of deliberate, well-thought-out, strategic action.
Speaking at the groundbreaking ceremony on Friday (July 18) for the latest National Housing Trust (NHT) scheme called the Chantilly Housing Development in Westmoreland, Prime Minister Holness emphasized that the Government is not just building houses but implementing policy to make housing more accessible and affordable. “The government has to tackle the problem from the supply side of housing, and the government has to tackle it from the demand side of housing.”
Dr. Holness noted that significant increases in public sector wages and the minimum wage have created greater effective demand for housing. “We have increased the base level of wages. Generally, as a result of the compensation review, we have increased our general wage levels. You now have more effective demand than ever before. You have more people who are now able to actually purchase a home.”
Outlining the government’s plan to increase the country’s housing stock, Dr. Holness said the Government is working to ensure more houses are built.
The Prime Minister announced that the Government surpassed its ambitious five-year target to build 70,000 houses between 2020 and 2025.
The NHT in particular has surpassed its targets.
In the meantime, in tandem with income growth, the NHT has increased loan limits and grants. Borrowers can now access up to $9 million individually and $12 million for homes priced under $14 million. This policy is designed to expand access while managing inflationary pressure.
“We have put in a trip clause in it… An incentive for developers to build homes within the 14-million-dollar band. So that more people can afford it. Again, we did that because we recognize that as we do more on the demand side, we are having an impact on price,” said Prime Minister Holness.
The Chantilly Gardens development is a key component of the Government’s broader housing strategy. Delivered through a partnership between the NHT and Drain Solutions Ltd, it will provide 120 modern units under the Guaranteed Purchase Program, featuring concrete construction, glazed windows, indoor plumbing, and other contemporary amenities.
This project reflects the Government’s commitment to delivering quality, affordable housing and creating modern communities of dignity across Jamaica.