Have Property Prices Fallen in Jamaica After Hurricane Melissa?
Description
The podcast sources, both articles published by the real estate platform Jamaica Homes, offer a detailed analysis of the complex impact of Hurricane Melissa on the Jamaican property market. They conclude that rather than resulting in a universal crash, the catastrophic storm forced a reallocation of value based on geographical risk and structural integrity. Prices are predicted to soften significantly for older, weaker homes and in low-lying coastal areas and floodplains, especially in the hard-hit southwestern parishes, due to increased climate-risk awareness and tightening insurance terms. Conversely, the demand for safer, higher-ground communities and well-established urban centres like Kingston is expected to remain firm or even increase. The overall narrative suggests that the hurricane serves as an audit of building practices, permanently changing how buyers, especially those in the diaspora, evaluate the resilience and long-term bankability of a property.
United States
