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At Terra Caribbean, we believe the best results are guided by data. That’s why we invest heavily in our acquiring and banking knowledge on the property market in Trinidad & Tobago. Like us, our clients value real estate market information because it helps them make more informed and confident decisions. Whether you are looking to buy your first home in Trinidad and Tobago, investing in commercial real estate or land, or renting out office space, you can rely on our team to provide you with the information you need to make sound decisions.

Buying Process

Operating in Trinidad and Tobago since 2000, Terra Caribbean’s highly skilled team is dedicated to streamlining the entire property purchasing process, ensuring you find your ideal home with ease and confidence. Below are a few key insights to consider.

Key Insights:

  • Written offer and acceptance (in some cases a reservation agreement may apply)
  • Appointment of an attorney-at-law
  • Exchange of contracts for sale and payment of a 10% deposit to an escrow agent
  • Current Valuation Report (up to six months)
  • Conveyance and payment of 90% remaining balance within 90 days.

(In the case of off-plan developments, stage payments based on construction progress may apply.)

  • Stamp Duty is payable by the Purchaser, upon registration of the title document.
  • Real Estate is and FIU (Financial Intelligence Unit) regulated industry in Trinidad and Tobago. As such, both purchasers and vendors are asked to comply in accordance with the law of Trinidad and Tobago.

Foreign Purchasers:

Foreign investors in Trinidad (including individuals and companies) can purchase:

  • up to one (1) acre of land for residential purposes; and
  • up to five (5) acres for commercial purposes.

without a foreign investment license.

However, purchasing land in Tobago and in excess of the stipulated acreages mentioned above in Trinidad, the foreign investor must obtain a licence to purchase.

Transaction Costs:

  • Attorney fees are vary in accordance with the value of the actual mortgage.
  • Titles and Searches on properties cost approximately TT$2,000 and TT$3,000.
  • Valuation Reports conducted by Terra Caribbean are usually 0.25% of the value of the property plus 12.5% VAT. Special cases apply where the property value is below a particular threshold.
  • Stamp Duty

The Stamp Duty on Residential Property (with a house) varies as follows:

Value of Property Applicable Rate
Up to $850,000 = $0 0%
$850,001 – $1,250,000 = $12,000 3%
$1,250,001 – $1,750,001 = $25,000 5%
Over $1,750,000 7.5%

The Stamp Duty on Residential Land is as follows:

Value of Property Applicable Rate
Up to $450,000 = $0 0%
$450,001 – $650,000 = $4,000 2%
$650,001 – $850,000 = $10,000 5%
Over $850,000 7.5%

The Stamp Duty on Commercial Property (Land and/or Building) is as follows:

Value of Property Applicable Rate
$0 – $300,000 0%
$300,001 – $400,000 5% on full amount
Over $400,000 7% on full amount

The Stamp Duty on Agricultural Land (more than 1 acre) is as follows:

Value of Property Applicable Rate
Up to $450,000 = $0 0%
$450,001 – $650,000 = $4,000 2%
$650,001 – $850,000 = $10,000 5%
Over $850,000 7%

Agricultural Land less than 1 acre is exempt from Stamp Duty.

Selling Process

In this dynamic market, every client and every property is vastly different. Therefore, we take the time to get to know you, your motivation in selling the property and the property itself. We work with you every step of the way, ensuring you have all the information and resources you need to make the right decisions on the sale of your property in Trinidad and Tobago. Below are few insights worth noting.

Transaction Costs:

  • Real estate agent’s fees will be 3% to 5% – this fee includes marketing, viewing, signage, etc.
  • Property Land and Building Tax up-to-date

The Property Tax is 2% of the (ATV) Annual Taxable Value for Residential properties and 5% of the Annual Taxable Value for Commercial properties. The Annual Taxable Value is 90% of the Annual Rental Value of the property.

Standard Sale Procedure:

  • Written offer and acceptance
  • Exchange of contracts for sale with consideration
  • Draft conveyance sent to the vendor for perusal
  • Provision of clear title of property, and any statutory property documents, such as Deed and Cadastral
  • Signing of conveyance/assignment documents within 90 days
  • Property tax bills and water bills must be fully paid up: Land and Building Tax Receipts; WASA Clearance Certificate
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