Kingston-based real estate brokerage different Capital is introducing an innovative ‘shell apartment’ model to address Jamaica’s escalating housing affordability crisis. This approach involves delivering structurally complete residential units with unfinished interiors, allowing buyers to customize and complete their homes according to personal preferences and budgetary constraints.
According to Deputy CEO Gary Matalon, the finishing component of traditional developments represents 30-40% of construction costs, escalating to 40-50% of the final sale price after developer markups. This substantial cost burden has effectively priced many Jamaican families out of the housing market.
The shell model strategically eliminates developer margins on high-value finish items including tiles, cabinetry, plumbing fixtures, and electrical installations. Purchasers receive a completed structural shell with installed windows, external doors, electrical panel with rough wiring, and plumbing infrastructure for kitchen and bathroom areas. Homeowners then assume responsibility for floor finishes, wall and ceiling treatments, cabinetry, closets, and interior partition walls where applicable.
Matalon emphasized that this concept appeals across multiple income segments, noting that while shell units are commonly utilized in affordable housing globally due to significant savings, the higher end of the market also values customization and cost efficiency. The company is currently evaluating studio, one-bedroom, and two-bedroom configurations across various locations, with pricing ultimately dependent on land cost and density.
Although the shell model isn’t novel to the region—with strong precedents in China where over 90% of purchased houses are reportedly unfinished—Jamaican buyers have traditionally preferred turn-key solutions. However, Matalon believes current affordability challenges will stimulate demand for alternative approaches.
The company is actively pursuing land targets and anticipates providing specific project updates in the near future. different Capital also acknowledges potential applications beyond residential properties, citing Jamaica’s historical use of shell spaces in commercial real estate development.