President of the Realtors Association of Jamaica, Newton Johnson, says he expects the sector to recover if the commercial banks respond to the Bank of Jamaica's rate reductions by lowering their mortgage rates.
His expectation follows the Statistical Institute of Jamaica's report that the real estate sector declined by 3.2 per cent during the third quarter of last year.
Mr. Johnson is confident a recovery of the sector will be driven by the demand being exhibited by Jamaicans living and working overseas.
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