Minister of Water and Housing Dr Horace Chang. - file

Young professionals are calling on the Ministry of Water and Housing to provide more affordable housing for that cohort.

Junior Rose of the Young Professionals of Jamaica said the housing gap for young Jamaicans was very high with many of them priced out of affording a home.

"According to our data, we have over 150,000 young professionals in Jamaica, and while the National Housing Trust (NHT) offers $3.5 million, and that is doubled for two applicants, the market sells houses far above the amount of $7 million, especially on the open market," Rose said.

His call comes on the heels of Minister of Water and Housing Dr Horace Chang's vow that the erection of 10,000 government-backed houses over the next few years would be specifically geared at low-paid socio-economic groups. Chang made the announcement during a ceremony where the Housing Agency of Jamaica (HAJ), a wholly owned government arm, broke ground for the construction of 64 one- and two-bedroom houses.

Rose said the income of most young professionals in today's job market made it difficult for them to go to lending institutions to secure loans as it would be hard for them to service these.

Rose pointed out that young professionals have other bills to face, such as student loans, which make it harder for them.

Rose recommended that the government look at alternative measures aimed at affordable housing for them such as allowing a group of individuals to come together to purchase land in targeted areas. He was also asking the Government to provide incentives to developers in terms of tax breaks, cheaper duties for importing building materials and longer repayment periods for young persons.

New measures

Chang told The Gleaner that the Government had been looking at certain measures to make housing more affordable.

He said it was now easier for young persons to apply for loans. He also pointed out that the NHT had lengthened the years for repayment of loans to 40 years up from 30 and said people could now carry their debt until the age of 70.

Chang, however, said finding a suitable location for housing developments was one of the ministry's biggest challenges, but the Government had been looking at several areas in Kingston, St Andrew and St Catherine.