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Hurricane Melissa, a shrinking economy, global conflict, and a housing crisis have transformed Jamaica's real estate market. The result is neither boom nor bust, but something far more complicated.
For much of the past decade, Jamaica’s property market seemed almost unstoppable. New apartment towers rose across Kingston. Resort developments expanded along the north coast. Housing schemes stretched into former cane fields. Returning residents bought homes. Diaspora investors purchased retirement properties. Short-term rentals transformed entire neighbourhoods.
For years, the story was simple.
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