What's selling in T&T?

In our first edition of The Red Book Trinidad & Tobago 2019, we highlighted in our Residential Sale Insights that demand in the middle to lower Residential Sale segment remained stable over the period 2014 to 2018, while the high-end property segment decreased during the same period.

As we near the end of 2019, we asked the same question “What’s selling this year in T&T?” A closer look at the Residential Sale segment for the first 10 months of this year showed a similar trend in composition and price ranges of residential sales so far.

Of the data gathered, from January to October 2019, the high-end market continues to feel the pressures of reduced investor confidence and economic woes. Just 6% of residential sales were in the $4m to $6m bracket with sales over $6m even less at 4%. On the other hand, 54% of sales in the residential segment were below $2m, and 36% between $2m to $4m. Of this 36%, sales between $2m to $3m accounted for 24%.

When analyzed by property type, condo living (apartments and townhouses) continues to be a popular option for sales over houses. Condominium units accounted for 46% of residential sales, outweighing house sales by 8%. Land remains a cheaper alternative for first time homeowners and is steady at 16% for the year so far.