A Position Paper With respect to The Proposed Licensing of the sale of land in Tobago by Tobago Hotel Tourism Association Trinidad Hotels Restaurants & Tourism Association Tobago Chamber of Commerce Trinidad Chamber of Commerce Association of Real Estate Agents (March 2007) An ad hoc committee was formed comprising both the Trinidad and the Tobago Chambers of Commerce, the Trinidad Hotels Restaurants... [Read more]

Finding a property that meets your requirements can be quite frustrating. Finding one that meets your requirements, within your price range which also meets the lender’s requirements for adequate security, is indeed a challenge! Purchasing real estate can sometimes be a very complex process – especially if it becomes necessary to borrow to assist with the purchase. To alleviate much of... [Read more]

AREA welcomes the Government’s much needed adjustment to the Stamp Duty regulations. Previously the threshold for exemption from Duty was $450,000 but with the dramatic increase in house values, this threshold was far too low to be effective in giving relief even at the low end of the property market. The new threshold has been raised to $850,000 which will make a significant difference to closing costs,... [Read more]

The Foreign Investment Act of 1990 allows a foreigner or a foreign company or non-resident to purchase up to one acre of residential land and/or up to five acres of commercial land in Trinidad & Tobago, without applying for a license. It is very difficult to locate land along the beach frontage in either island unless one is buying with development opportunity in mind. Most real estate along our... [Read more]

The Association of Real Estate Agents, AREA, was officially launched in 1990. This was finally accomplished after more than 10 years and numerous unsuccessful attempts to create an Association of Agents who were working on a full time basis within the Real Estate Industry. As far back as the mid- to late-1950’s, a number of attempts were made to establish some sort of co-operation between people... [Read more]

Real estate prices in Trinidad have increased substantially since the recession of the 1980’s. With the opening up of the economy the Trinbagonian entrepreneur is more confident in the economy and has taken full advantage of the tax benefits implemented in recent years. There has also been an influx of foreign investment that have come to Trinidad mainly in the petrochemical industry. These investors... [Read more]

Adapted from a presentation by Leslie J Mohammed Managing Director First Citizens Mortgage and Trust Co. Real estate agents often say that renters only have rent receipts to show for all their years of tenancy. It has also been said that renters are simply too busy or lazy to bother with home repair and maintenance. The home owner must grit his teeth and prepare for a lot of tap repairing, lawn cutting... [Read more]

The year has opened with the global economy in turmoil and recession a reality for nearly every nation. But what does this mean for the Trinabgonian real estate sector and what other factors are at play that will influence the price of property, and the status of the market, going forward? AREA’s President Richard Saunders, Dawn Glaisher of Seajade Investments and Republic Bank Senior Economist... [Read more]