Real Estate in Trinidad and Tobago for Emigrants

Real Estate in Trinidad and Tobago for Emigrants

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The southern islands, Trinidad and Tobago, are approximately 10 kilometers from the coastline of Venezuela. Buying a real estate in this country attracts many potential owners.


The main reasons for the demand are the proximity of the islands to South America, the hot tropical climate throughout the year, as well as the rich flora. In addition, due to the tax reform, which was carried out in the country in early 2010, investors increased interest in real estate in the commercial sector, and, consequently, increased demand for it.


Sale and purchase of real estate


Foreigners wishing to buy property in Trinidad and Tobago should take into account that in this country, like in many other countries of the West Indies, you need to get a certain license, which is related to land ownership rights.


How much time and money it takes to get the desired document depends mainly on the type of real estate you are buying.


You also need to understand that if the property is located in areas of particular value to the state, for example, in protected areas with unique flora and fauna, then additional funds and time will be needed to purchase it. You can also check to get the idea what kind of apartments and houses local people sell.


Rental Property


The authorities of Trinidad and Tobago today are trying to make the country more attractive for tourists, and therefore they are developing the tourism business industry  by investing in the hotel sector. Such a state policy rather negatively affects the private sector associated with rental housing. Thus, the rental market at this stage is at a rather low level of development.


However, the monthly cost of renting the living space may be approximately 1000-1200 euros.


Purchase of apartments


The offer of apartments in Trinidad and Tobago is quite large and diverse, mainly due to the large area of ​​the islands. Therefore, those who want to buy an apartment will have a large selection. If a potential buyer has time to buy an apartment, i.e. there is no need to do it urgently, it is possible to find options worth a little more than 100 thousand euros. Naturally, this does not apply to elite housing in the state capital, for which prices will be much higher.


Buying houses


The private sector in Trinidad and Tobago is located mainly in the northern part of the islands, as close as possible to the coast. In this sector, those who wish can also choose from a huge number of options, which differ in a wide price range: from small houses to luxury villas with a large adjacent territory. Prices for private houses will be about two times higher than the prices for apartments.


The main thing to remember when buying property on the territory of the islands, study the new rules with a particular to the tax rate, which now depends on both the type of property being purchased and its location.


Enthusiast and freelance writer.
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