Looking for a more affordable apartment

The corporate area in Jamaica has the densest working population. Most workers would prefer to live close to work, property prices preclude many, from living within the urban area of Kingston and St Andrew.

The result is the rapidly growing residential areas in St Catherine, the neighbouring parish, as Jamaicans seek affordable housing close to Kingston. St Andrew has some of the most expensive residential real estate in Jamaica. The reduction in readily available open spaces, has driven up the value of land and the selling prices of new units. While the cost of money has declined from very high levels, a few years ago, it is still high, compared with other countries within the Caribbean. Higher interest cost like higher land cost helps in driving the price of houses up and makes them less affordable to purchasers. As the prices climb and income levels remain pressured, many developers have reduced inputs cost, more often by downsizing lots or units. Units can be altered by square footage and high between ceiling and floor. Often, they utilize less expenses fittings, which the owner may change out, some later point in the future.
As more units are built in what is considered the preferred residential areas, there is a trend that has seen units being built some distant from the main areas.
IC Insider visited one such complex recently. El Gabriel is locate on Lindsay Crescent, just off Dunrobin Avenue and comprises 18 units 1 and 2 bedroom and penthouse units, priced between $10.4 million to $13.7 million.
The complex is gated, units are floored with porcelain tiles and have granite counter tops. The sizes are, 1 bedroom units 531 square feet, 2 bedroom – 816 square feet and penthouses 769 square feet.
The selling price per square foot works out at $19,585 for the 1 bedroom and $16,409 for the 2 bedroom units.