Prime Minister Holness unveils big housing reforms: Bigger NHT loans, lower deposits, and more

Jamaica’s Prime Minister Andrew Holness, in his 2025/2026 Budget Presentation, outlined significant adjustments to the National Housing Trust (NHT) aimed at increasing affordability and accessibility for Jamaican homebuyers.

The announcement comes amid growing concerns among Jamaicans, particularly young people, about the rising cost of homeownership and the challenges of entering the housing market.

NHT loan limit increases effective July 1, 2025

The NHT will be increasing individual loan limits from $7.5 million to $9 million. For two co-applicants, the limit will rise from $15 million to $17 million, while three co-applicants will now have access to $23 million, up from $21 million. Additionally, for units priced at $14 million or less, individuals will be able to borrow up to $12 million.

“Each time we increase the loan limit, we notice an increase in the price of houses. It is the most frustrating thing, and yes, it is a matter of economics. So, what we have done is to give a greater loan limit for houses that are at the affordable price point,” the Prime Minister explained.

Further, the wait time for home improvement loans will be reduced from 10 years to seven years, while the loan limit will be increased from $3.5 million to $5 million.