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]

From inflation rates to closing costs, there are many factors which impact on an individual’s decision, or ability, to purchase real estate in Trinidad and Tobago. Here, in discussion with AREA’s President Richard Saunders, Republic Bank’s senior economist Dr Ronald Ramkissoon, Town Planner Paul De Gannes and real estate broker Dawn Glaisher from Tobago’s Seajade Investments we take a look... [Read more]

De-personalise For a lot of people, selling their home is an understandably emotional topic. But it is imperative sellers distance themselves from their sentimental attachment and view their homes as what they are, products to be sold. Disassociate yourself from your home and take the mental decision to let go of your emotions towards it. After all, the house will soon no longer be yours and you... [Read more]

Whether buying or selling, choosing the right real estate agent is one of the most important decisions you will make during the conveyancing process. In an industry which has seen a doubling of agent numbers over the last five years, the initial choice can seem a broad and daunting one. So what are some of the key factors to consider in the search for a reliable and trustworthy agent on whom you... [Read more]