Property Development and Real Estate
East is the New West
Confirming this is Richard Saunders, president of the Association of Real Estate Agents (AREA).
Demand for residential properties in east Trinidad has all to do with the development of the University of Trinidad and Tobago (UTT). Demand from lecturers, many of whom are coming from overseas — India, Australia, the United Kingdom — is fuelling the need for residential space. “You are now getting US-quoted rentals for some of the properties in the east, the Arima area. People with a pool and things like that would get a good price, rental,” Saunders said. A three-bedroom property with a pool can command a monthly US$2,500 monthly rental.
Such a figure is highly unusual for that area, Saunders said. “It’s like the expat-quality they would look for in the northwest peninsula.” A million square feet of shopping space at Trincity Mall is compelling attraction to living in the east. This is a new growth area for real estate. “It is a n...
