Real estate industry bolstered by improved technology

 

Improved technology is expected to positively impact the local real estate industry.

 

Roger Williams, Interim CEO of Spectrum Group which owns RE/MAX Elite Realty, says these improved processes could boost real estate output. 

 

"A lot of developments now are using more contemporary building systems. What does that translate to? It translates to faster, more efficient, more consistent quality in our developments. And so the speed to get to market with a building is shorter; as I said, the consistency of quality is better, and ultimately that helps to fuel demand in the sector." 

 

However, Mr. Williams said while the sector grows, there is still a gap, especially for consumers in the low to middle income bracket. 

 

"A lot of working Jamaicans really find it hard to find the property that they can afford, where they want to live, when they want to buy. And this is something that is not a new problem. It's a problem or it's a challenge, I should say, that we've been grappling with for decades. Of course, there are institutions like the NHT and banks and other financial institutions that are helping to provide solutions to help to bridge that gap, but it remains a challenge," he acknowledged.