Property Development and Real Estate
While the stock market suffered a significant reversal in 2006, Trinidad and Tobago’s banking and financial services industry continued to perform strongly in its home base in 2006 and to be a leading provider of capital in the region.
Real estate prices are trending downwards. Somewhat.
That’s the word from real estate agents and brokers from Scarborough in Tobago to San Fernando in Trinidad.
Dawn Glaisher, owner of SeaJade Investments in Tobago, said the real estate market on the smaller of the two islands is “fairly active, but prices are starting to fall.”
“Prices have gone too high. Everybody is feeling that,” Glaisher said.
More negotiating is taking place. Buyers and sellers are looking for deals, cheaper buys. “If someone is interested, the price they are willing to entertain is lower than otherwise,” the broker said. “In one instance, the price (paid) was 20 per cent less (than the asking price).
“Although locals account for 70 per cent o...
