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Trinidad and Tobago – Buying Property

Legal Restrictions on Property Ownership by Foreign Nationals in Trinidad and Tobago

Foreign nationals can buy and own property in Trinidad and Tobago without restrictions. There are no restrictions on foreign ownership, but all property transactions are subject to stamp duty and transfer taxes, which are paid by the buyer.

Average Property Prices in Trinidad and Tobago

The average price for property in Trinidad and Tobago is around TTD 3 million (approximately USD 450,000), but prices vary greatly depending on the location, size and type of property. The prices are highest in Port of Spain, Trinidad and the surrounding areas, with lower prices in Tobago.

Popular Locations to Buy Property in Trinidad and Tobago

Port of Spain, Trinidad is the most popular location for buying property, as it is the capital and largest city in the country. Other popular locations include Maraval, St. James, and Woodbrook.


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New Upcoming Areas in Trinidad and Tobago

The new, upcoming areas in Trinidad and Tobago that are attracting attention from property buyers include Chaguanas, Couva, and Point Fortin. These areas offer affordable prices, good transport links, and growing communities.

Trends in the Property Market in Trinidad and Tobago

The property market in Trinidad and Tobago has been growing steadily in recent years, with increased interest from foreign investors. There is a growing demand for luxury properties, especially in the form of villas and apartments, as well as an increasing demand for rental properties.

Is Buying Property a Good Investment in Trinidad and Tobago?

Buying property in Trinidad and Tobago can be a good investment, as the market is growing and prices are expected to rise in the future. However, it is important to do thorough research and consider factors such as location, price, and the condition of the property before making a decision.

Common Property Types in Trinidad and Tobago

The most common property types in Trinidad and Tobago include apartments, townhouses, detached houses, villas, and land. Apartments are the most popular type of property, especially for rental purposes, while detached houses and villas are popular for those looking to own their own home. Land is also popular for those looking to build their own home or for investment purposes.

Typical House Buying Procedure in Trinidad and Tobago

  1. Surveys/Inspections: Before making an offer on a property, it is recommended to have a building inspection and survey done on the property. This will help to identify any potential issues with the property and will be beneficial in negotiating the price.

  2. Making an Offer: Once the surveys and inspections have been done, the next step is to make an offer on the property. The offer should be in writing and include details such as the purchase price, closing date and any contingencies that need to be met.

  3. Notary: A notary is required to process the sale and purchase of a property in Trinidad and Tobago. They will ensure that all legal documents are in order, and that the title to the property is clear.

  4. Exchange of Contracts: Once the offer has been accepted, and all the legal documents are in order, the contracts can be exchanged. This is a legally binding agreement between the buyer and the seller, and it marks the point at which the buyer becomes legally committed to purchasing the property.

  5. Closing: After the contracts have been exchanged, the final step is the closing. This is when the property is transferred from the seller to the buyer, and the buyer pays the purchase price.

Finding a Reputable Lawyer in Trinidad and Tobago

  1. Professional Organizations: It is recommended to find a lawyer who is a member of the Law Association of Trinidad and Tobago. This organization sets standards for lawyers in Trinidad and Tobago and ensures that they are held to the highest ethical standards.

  2. Cost: Lawyers in Trinidad and Tobago typically charge on an hourly basis and their fees can vary. It is important to ask for an estimate of the cost before hiring a lawyer.

  3. Contact: The Law Association of Trinidad and Tobago can be contacted at lawassociationtt.org.

Pitfall and Problems

  1. Title Issues: Expats may encounter title issues when purchasing property in Trinidad and Tobago. It is important to have a lawyer thoroughly review the title to ensure that it is clear and free of any liens or encumbrances.

  2. Legal Fees: Expats should be aware that legal fees can be quite high in Trinidad and Tobago, and it is important to budget accordingly.

  3. Timeframe: The process of buying a property in Trinidad and Tobago can be lengthy, and it is important to be patient.

Purchasing Property Through a Company in Trinidad and Tobago

  1. Possible: It is possible to purchase property through a company in Trinidad and Tobago.

  2. Desirable: It may be desirable to purchase property through a company in Trinidad and Tobago for certain reasons, such as to protect assets or for tax purposes. It is important to consult a lawyer before making the decision to purchase property through a company.


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