Major parties make bold housing promises
Jamaica’s two major political parties have put forward bold promises aimed at solving the country’s housing problem.
Days after the People’s National Party (PNP) said it would implement a rent-to-own programme if it forms the government after the September 3 general election, the Jamaica Labour Party (JLP) has said it would create 10,000 housing solutions for young persons if it gets another term. According to the JLP, persons 25 to 35 would not have to pay a dollar to access the houses being promised as 100 per cent financing would be put in place. By contrast, the PNP said thousands of houses would be constructed under its rent-to-own programme.
PAY RENT
It said that individuals would pay rent for a consistent period, a portion of which would go towards the down payment, later transitioning to ownership through a mortgage. In the meantime, 70,000 housing starts are being targeted by the JLP over the next five years, and the party said 30 per cent of these would be sold to civil servants, teachers, police personnel and nurses. The JLP said that it delivered 20,000 National Housing Trust housing starts in the last administration while reducing interest rates to zero per cent for certain categories of beneficiaries.
For its part, the PNP said it would be constructing 130,000 houses over the next five years. It said that Jamaicans seeking to own their first house may be able to claim up to one year’s income tax for the purpose of a home purchase. As part of its housing programme, the PNP said 54,000 houses would go to the general public, 25,000 to youth under 35 years old, and 5,000 each to teachers, hospitality workers, nurses, public transport workers, household helpers and gardeners, security guards, public-sector workers and the police. Another 1,000 homes would be allocated to the disabled community, 3,000 to vendors, and 2,000 to soldiers.