And a sympathetic minister of water and housing, Danny Buchanan says "it is work in progress" as far as the government is concerned.
"I am aware that within the legal system as well as the regulatory system every effort is being made to enhance and improve the time frame within which transactions can be completed," Buchanan told querying journalists late Thursday.

"It is work in progress so let us look and see how quickly we have the improvements which we require," the minister, who was the guest speaker at the launch of JN Real Estate's Signature Homes and Properties, added.

He was responding to complaints in prepared speeches by Earl Jarrett, general manager of Jamaica National Building Society (JNBS) - parent company of JN Real Estate - and Jacqueline Peat-Smith, general manager of the subsidiary.

Both argued that convoluted processes were having the effect of stifling real estate business and slowing the growth of a sector with huge potential, especially given the robust demand for accommodation by returning residents.

They called for "quick turn around" as property transactions go the torturous route of the sales agent, the purchaser's and vendor's attorney, the valuer, the surveyor, the financial institution, the attorney of the financial institution, and the title's office.

"Over the past year 55 per cent of sales transactions that we completed were (with) our overseas clients. It is regrettable that possibly an equal number of these transactions fell through. The main reason being the relatively slow pace of the transaction," said Peat-Smith.

According to Jarrett: "If you are purchasing a house for, let's say, $6 million, the attendant costs of lawyer's fees, transfer fees, stamp duty and so on, can run you into an additional $500,000 - $700,000, and the process of transferring the property can take up to five or six months."

Jamaica, Jarrett argued, needs to move to a situation where "transferring land is as simple as transferring a motor car from one owner to the other. This would undoubtedly create an explosion in transactions and vibrancy and dynamism in the marketplace."

Responding to reporters' questions immediately after the launching ceremony held at the Island Hardware, just outside Mandeville, Buchanan said, "I am in favour of any process which reduces bureaucracy and which enhances service delivery. I believe that the comments (by the JN executives) are timely."

He suggested that some of the changes being considered by his ministry to speed up the process would not require the passing of new laws.

"Much of this won't require legislation. Much of this will require changes in systems and improvements in systems and administrative arrangements which can make it possible for things to go faster ." Buchanan said.  "Where there is the need for administrative action that will be forthcoming," he added.

Speakers at Thursday's launch said Signature Homes and Properties will target middle to upper income brackets - not least returning residents - with prime real estate which reflects their personal style and tastes.

Said Peat-Smith: "We observe in the market an increasing trend for this market segment to have distinctive living and working spaces, some even going as far as to naming their properties. Signature Homes and Properties is our response to this emerging development."

Demand, especially from people returning home from Britain wanting to build primarily in St James, St Ann, St Thomas, St Catherine, Manchester, St Mary and St Elizabeth, was far outstripping supply she said.

Peat-Smith said her office currently gets about 10 calls daily from overseas involving people seeking homes. But only about two of those calls were being taken to a conclusion as a "successful transaction".

"In the interest of our purchasers we need to bring a spirit of partnering with all our industry players and you the community leaders, in collectively identifying properties which can be sold to these purchasers knowing that through this initiative, the neighbourhood, the community and the country will benefit," she said.

Underlining the importance of the returning residents to the real estate sector and to Jamaica's south central region, Buchanan in his address cited figures showing that for the five-year period ending November 2004, " these individuals have constructed 5,033 homes with Manchester, Clarendon and St Elizabeth accounting for 41 per cent of this figure". In the same period returning residents bought 2,600 homes in Kingston and St Andrew, Buchanan added.