NASSAU, BAHAMAS — Arawak Homes President Franon Wilson suggests that the government consider rezoning certain single-family lots to multi-family lots to help address the capital’s housing crisis.
Housing scarcity has been a national concern for some time, and the Minister of Housing, Keith Bell, confirmed earlier this year that there is a shortage of some 12,000 homes.
Wilson said he believes that the numbers far surpass that.
He encouraged potential homebuyers to consider a mortgage, noting that the bank is offering special loan deals until January 2025. However, he acknowledged that high living costs remain a challenge for many, and Clearing Banks Association President Gowon Bowe added that moving from renting to homeownership isn’t always a straightforward switch.
