There has been a decline in the number of persons borrowing funds to purchase real estate in Jamaica.
According to the 2014 Economic & Social Survey of Jamaica, tabled on Tuesday in the House of Representatives, the number of mortgages disbursed during the year fell 22 per cent to 13,428.
All mortgage lenders, except life insurance companies, recorded declines in loans.
The largest decline was recorded by credit unions, which issued 5,525 loans, a 28 per cent slippage from the previous year.
The report also shows a decline in residential construction last year.
Housing starts during the year fell 29.8 percent to a little over two thousand units.
This was primarily associated with a reduction in the number of starts by the Housing Association of Jamaica, from 938 to 99 units.
There was also an 8% decline in the number of starts by the National Housing Trust, which totaled 1,548 units.
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